Assenagon Asset Management S.A. Buys 38,718 Shares of American Financial Group, Inc. (NYSE:AFG)

Assenagon Asset Management S.A. increased its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 302.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,509 shares of the insurance provider’s stock after purchasing an additional 38,718 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.06% of American Financial Group worth $6,337,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new position in shares of American Financial Group during the fourth quarter worth $53,000. Covestor Ltd increased its position in American Financial Group by 402.3% during the 1st quarter. Covestor Ltd now owns 432 shares of the insurance provider’s stock valued at $59,000 after buying an additional 346 shares in the last quarter. Abich Financial Wealth Management LLC boosted its holdings in American Financial Group by 10,460.0% in the first quarter. Abich Financial Wealth Management LLC now owns 528 shares of the insurance provider’s stock valued at $72,000 after purchasing an additional 523 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in American Financial Group by 7,616.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 926 shares of the insurance provider’s stock worth $110,000 after purchasing an additional 914 shares during the period. Finally, Swedbank AB acquired a new stake in American Financial Group during the 1st quarter worth about $133,000. Institutional investors own 64.37% of the company’s stock.

American Financial Group Stock Performance

NYSE:AFG opened at $129.12 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.46 and a current ratio of 0.46. The stock has a market capitalization of $10.83 billion, a PE ratio of 12.36 and a beta of 0.78. American Financial Group, Inc. has a fifty-two week low of $105.22 and a fifty-two week high of $137.71. The company has a fifty day moving average of $125.73 and a two-hundred day moving average of $127.53.

American Financial Group (NYSE:AFG) last issued its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.45 by $0.11. American Financial Group had a return on equity of 21.16% and a net margin of 11.06%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the business earned $2.38 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, research analysts forecast that American Financial Group, Inc. will post 10.97 earnings per share for the current fiscal year.

American Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 15th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Monday, July 15th. American Financial Group’s dividend payout ratio (DPR) is 27.18%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AFG shares. Citigroup cut shares of American Financial Group from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $144.00 to $137.00 in a research note on Friday, June 28th. Piper Sandler lifted their price target on American Financial Group from $129.00 to $135.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $131.75.

Insider Transactions at American Financial Group

In related news, Director Amy Y. Murray purchased 1,200 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average price of $125.17 per share, with a total value of $150,204.00. Following the completion of the acquisition, the director now owns 1,200 shares in the company, valued at $150,204. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 14.50% of the company’s stock.

About American Financial Group

American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. The company 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.