WBI Investments LLC Buys New Position in American Financial Group, Inc. $AFG

WBI Investments LLC purchased a new stake in American Financial Group, Inc. (NYSE:AFG) in the third quarter, Holdings Channel.com reports. The fund purchased 4,603 shares of the insurance provider’s stock, valued at approximately $671,000.

Several other large investors have also bought and sold shares of the stock. Alpine Bank Wealth Management purchased a new position in American Financial Group during the 3rd quarter worth $30,000. Root Financial Partners LLC purchased a new position in American Financial Group during the third quarter worth about $34,000. Smartleaf Asset Management LLC boosted its holdings in American Financial Group by 165.0% during the third quarter. Smartleaf Asset Management LLC now owns 273 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 170 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in American Financial Group in the 3rd quarter worth about $44,000. Finally, Quent Capital LLC purchased a new stake in American Financial Group in the 3rd quarter valued at about $46,000. 64.37% of the stock is currently owned by institutional investors.

American Financial Group Price Performance

Shares of NYSE:AFG opened at $127.06 on Thursday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $10.58 billion, a PE ratio of 12.62 and a beta of 0.69. American Financial Group, Inc. has a twelve month low of $114.73 and a twelve month high of $150.02. The company has a 50-day moving average price of $130.10 and a two-hundred day moving average price of $135.13.

American Financial Group (NYSE:AFG) last posted its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $3.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.47. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.79 billion. American Financial Group had a net margin of 10.30% and a return on equity of 18.64%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.12 earnings per share. Equities analysts forecast that American Financial Group, Inc. will post 10.5 EPS for the current year.

American Financial Group Announces Dividend

The business also recently declared a special dividend, which was paid on Wednesday, February 25th. Stockholders of record on Monday, February 16th were issued a $1.50 dividend. The ex-dividend date of this dividend was Friday, February 13th. American Financial Group’s dividend payout ratio (DPR) is presently 34.96%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AFG shares. Wells Fargo & Company cut their target price on American Financial Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. Weiss Ratings raised American Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $141.25.

Insider Activity at American Financial Group

In other American Financial Group news, CFO Brian S. Hertzman sold 1,663 shares of American Financial Group stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $133.70, for a total transaction of $222,343.10. Following the completion of the transaction, the chief financial officer owned 12,073 shares of the company’s stock, valued at $1,614,160.10. The trade was a 12.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 17.40% of the stock is owned by insiders.

About American Financial Group

American Financial Group, Inc (NYSE: AFG) is a diversified holding company primarily engaged in property and casualty insurance and reinsurance. Through its flagship subsidiary, Great American Insurance Company, the firm underwrites a broad range of specialty insurance products for commercial and industrial clients, including inland marine, excess and surplus lines, executive liability, and environmental liability coverage. In addition, American Financial Group offers supplemental accident and health insurance and assumes reinsurance risks from other insurers, helping to diversify its underwriting portfolio.

The company traces its roots to 1946, when it was founded by Carl Lindner, Sr.