Hudson Bay Capital Management LP Purchases Shares of 38,526 American Financial Group, Inc. (NYSE:AFG)

Hudson Bay Capital Management LP acquired a new position in American Financial Group, Inc. (NYSE:AFG) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 38,526 shares of the insurance provider’s stock, valued at approximately $5,275,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in American Financial Group during the fourth quarter worth $122,419,000. Voya Investment Management LLC boosted its holdings in American Financial Group by 89.5% during the 4th quarter. Voya Investment Management LLC now owns 672,851 shares of the insurance provider’s stock worth $92,134,000 after acquiring an additional 317,859 shares during the last quarter. Northern Trust Corp grew its stake in shares of American Financial Group by 35.8% in the 4th quarter. Northern Trust Corp now owns 802,069 shares of the insurance provider’s stock worth $109,827,000 after acquiring an additional 211,630 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of American Financial Group by 26.2% in the 4th quarter. Bank of New York Mellon Corp now owns 997,340 shares of the insurance provider’s stock worth $136,566,000 after acquiring an additional 207,285 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of American Financial Group by 27.7% in the fourth quarter. First Trust Advisors LP now owns 684,178 shares of the insurance provider’s stock valued at $93,684,000 after purchasing an additional 148,259 shares during the last quarter. 64.37% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Gregory G. Joseph acquired 3,000 shares of American Financial Group stock in a transaction on Thursday, February 20th. The stock was acquired at an average cost of $121.00 per share, with a total value of $363,000.00. Following the completion of the acquisition, the director now owns 57,477 shares in the company, valued at approximately $6,954,717. This trade represents a 5.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 17.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods cut their price target on shares of American Financial Group from $126.00 to $125.00 and set a “market perform” rating on the stock in a report on Friday.

American Financial Group Stock Performance

Shares of AFG opened at $123.35 on Tuesday. The stock has a 50 day moving average of $126.36 and a 200 day moving average of $131.74. The company has a market capitalization of $10.32 billion, a price-to-earnings ratio of 11.67 and a beta of 0.72. American Financial Group, Inc. has a 12 month low of $114.73 and a 12 month high of $150.19. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.31.

American Financial Group (NYSE:AFG) last announced its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.36). The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.74 billion. American Financial Group had a net margin of 10.66% and a return on equity of 20.30%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.76 EPS. As a group, sell-side analysts forecast that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Tuesday, April 15th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend was Tuesday, April 15th. American Financial Group’s dividend payout ratio is 33.61%.

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.