DnB Asset Management AS increased its position in shares of American Financial Group, Inc. (NYSE:AFG – Get Rating) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,204 shares of the insurance provider’s stock after acquiring an additional 104 shares during the quarter. DnB Asset Management AS’s holdings in American Financial Group were worth $1,833,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of AFG. Vanguard Group Inc. raised its holdings in American Financial Group by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 7,544,354 shares of the insurance provider’s stock worth $1,098,609,000 after buying an additional 313,115 shares during the period. Lord Abbett & CO. LLC raised its holdings in American Financial Group by 15.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 2,051,853 shares of the insurance provider’s stock worth $298,791,000 after buying an additional 266,859 shares during the period. Point72 Asset Management L.P. raised its holdings in American Financial Group by 213.2% during the 4th quarter. Point72 Asset Management L.P. now owns 372,177 shares of the insurance provider’s stock worth $51,107,000 after buying an additional 253,337 shares during the period. State Street Corp raised its holdings in American Financial Group by 5.5% during the 4th quarter. State Street Corp now owns 2,940,094 shares of the insurance provider’s stock worth $403,734,000 after buying an additional 152,866 shares during the period. Finally, Gillson Capital LP raised its holdings in American Financial Group by 235.9% during the 1st quarter. Gillson Capital LP now owns 190,370 shares of the insurance provider’s stock worth $27,722,000 after buying an additional 133,694 shares during the period. Institutional investors own 69.11% of the company’s stock.
American Financial Group Trading Down 1.6 %
AFG stock opened at $125.75 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.44 and a quick ratio of 0.44. The company has a fifty day moving average price of $131.11 and a two-hundred day moving average price of $137.40. American Financial Group, Inc. has a one year low of $122.71 and a one year high of $152.29. The stock has a market cap of $10.71 billion, a price-to-earnings ratio of 10.39 and a beta of 0.82.
American Financial Group Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 25th. Stockholders of record on Friday, July 15th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Thursday, July 14th. American Financial Group’s dividend payout ratio is currently 18.51%.
Analyst Ratings Changes
Separately, Morgan Stanley lowered their price objective on shares of American Financial Group from $147.00 to $146.00 and set an “equal weight” rating on the stock in a report on Friday, August 19th.
About American Financial Group
American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. It offers property and transportation insurance products, such as physical damage and liability coverage for buses and trucks, inland and ocean marine, agricultural-related products, and other commercial property and specialty transportation coverages; specialty casualty insurance, including primarily excess and surplus, executive and professional liability, general liability, umbrella and excess liability, and specialty coverage in targeted markets, as well as customized programs for small to mid-sized businesses and workers' compensation insurance; and specialty financial insurance products comprising risk management insurance programs for lending and leasing institutions, fidelity and surety products, and trade credit insurance.
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