American Financial Group, Inc. $AFG Shares Bought by Millennium Management LLC

Millennium Management LLC increased its holdings in American Financial Group, Inc. (NYSE:AFG) by 166.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 280,012 shares of the insurance provider’s stock after buying an additional 175,015 shares during the period. Millennium Management LLC owned about 0.33% of American Financial Group worth $36,777,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Envestnet Asset Management Inc. lifted its holdings in American Financial Group by 10.8% in the first quarter. Envestnet Asset Management Inc. now owns 59,633 shares of the insurance provider’s stock worth $7,832,000 after acquiring an additional 5,799 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in shares of American Financial Group during the 1st quarter worth approximately $282,000. Teacher Retirement System of Texas bought a new stake in shares of American Financial Group in the 1st quarter worth approximately $1,370,000. Private Trust Co. NA boosted its position in American Financial Group by 144.3% during the 1st quarter. Private Trust Co. NA now owns 215 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 127 shares during the period. Finally, QRG Capital Management Inc. boosted its position in American Financial Group by 10.5% during the 1st quarter. QRG Capital Management Inc. now owns 5,427 shares of the insurance provider’s stock valued at $713,000 after purchasing an additional 514 shares during the period. Institutional investors own 64.37% of the company’s stock.

Insiders Place Their Bets

In other American Financial Group news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $134.31, for a total transaction of $1,343,100.00. Following the completion of the transaction, the director directly owned 326,730 shares of the company’s stock, valued at approximately $43,883,106.30. This trade represents a 2.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 17.40% of the stock is owned by company insiders.

American Financial Group Price Performance

Shares of AFG opened at $138.28 on Wednesday. American Financial Group, Inc. has a one year low of $114.73 and a one year high of $150.19. The stock’s fifty day moving average is $129.98 and its 200-day moving average is $126.95. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market capitalization of $11.53 billion, a price-to-earnings ratio of 15.20 and a beta of 0.73.

American Financial Group (NYSE:AFG) last announced its earnings results on Tuesday, August 5th. The insurance provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.06. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.77 billion. American Financial Group had a net margin of 9.21% and a return on equity of 17.41%. American Financial Group’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.56 EPS. Equities analysts anticipate that American Financial Group, Inc. will post 10.5 EPS for the current year.

American Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Tuesday, July 15th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $3.20 annualized dividend and a yield of 2.3%. American Financial Group’s payout ratio is presently 35.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AFG shares. Keefe, Bruyette & Woods cut their target price on American Financial Group from $127.00 to $124.00 and set a “market perform” rating on the stock in a research note on Tuesday, August 12th. Jefferies Financial Group lifted their price objective on shares of American Financial Group from $125.00 to $130.00 and gave the company a “hold” rating in a research report on Monday, August 11th. Finally, Wall Street Zen cut shares of American Financial Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 30th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $136.75.

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.