Ontario Teachers Pension Plan Board increased its stake in shares of American Financial Group, Inc. (NYSE:AFG – Free Report) by 57.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,248 shares of the insurance provider’s stock after buying an additional 2,644 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in American Financial Group were worth $881,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Van ECK Associates Corp increased its stake in American Financial Group by 1.3% in the 4th quarter. Van ECK Associates Corp now owns 8,184 shares of the insurance provider’s stock valued at $1,123,000 after buying an additional 102 shares during the last quarter. Advisor Group Holdings Inc. grew its holdings in shares of American Financial Group by 0.5% in the fourth quarter. Advisor Group Holdings Inc. now owns 18,805 shares of the insurance provider’s stock valued at $2,583,000 after acquiring an additional 102 shares in the last quarter. Argent Capital Management LLC increased its position in shares of American Financial Group by 0.5% during the first quarter. Argent Capital Management LLC now owns 21,225 shares of the insurance provider’s stock valued at $2,579,000 after acquiring an additional 106 shares during the last quarter. Commerce Bank lifted its holdings in American Financial Group by 1.2% during the first quarter. Commerce Bank now owns 8,948 shares of the insurance provider’s stock worth $1,087,000 after acquiring an additional 107 shares during the period. Finally, CIBC Asset Management Inc boosted its position in American Financial Group by 4.1% in the first quarter. CIBC Asset Management Inc now owns 2,718 shares of the insurance provider’s stock worth $330,000 after purchasing an additional 108 shares during the last quarter. 63.50% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at American Financial Group
In related news, Director Terry S. Jacobs sold 761 shares of American Financial Group stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $115.84, for a total value of $88,154.24. Following the completion of the transaction, the director now directly owns 7,500 shares in the company, valued at approximately $868,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 14.60% of the stock is currently owned by corporate insiders.
American Financial Group Stock Performance
American Financial Group (NYSE:AFG – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The insurance provider reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.47). The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.85 billion. American Financial Group had a net margin of 11.38% and a return on equity of 22.51%. During the same quarter in the prior year, the firm posted $2.85 earnings per share. On average, equities research analysts forecast that American Financial Group, Inc. will post 10.64 EPS for the current year.
American Financial Group Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Friday, July 14th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Thursday, July 13th. American Financial Group’s dividend payout ratio (DPR) is currently 25.20%.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on AFG shares. Jefferies Financial Group initiated coverage on American Financial Group in a research report on Thursday. They set a “hold” rating and a $120.00 target price for the company. Piper Sandler decreased their price objective on shares of American Financial Group from $162.00 to $150.00 in a report on Thursday, July 6th. Finally, StockNews.com began coverage on shares of American Financial Group in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, American Financial Group presently has an average rating of “Hold” and a consensus target price of $143.75.
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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