Johnson Investment Counsel Inc. Grows Position in American Financial Group, Inc. $AFG

Johnson Investment Counsel Inc. grew its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 6.1% in the second quarter, HoldingsChannel.com reports. The firm owned 602,558 shares of the insurance provider’s stock after buying an additional 34,876 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in American Financial Group were worth $76,049,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Private Trust Co. NA lifted its stake in American Financial Group by 144.3% in the first quarter. Private Trust Co. NA now owns 215 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 127 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in American Financial Group in the first quarter worth $34,000. Headlands Technologies LLC purchased a new stake in American Financial Group in the first quarter worth $55,000. IFP Advisors Inc lifted its stake in American Financial Group by 86.7% in the second quarter. IFP Advisors Inc now owns 422 shares of the insurance provider’s stock worth $57,000 after acquiring an additional 196 shares during the period. Finally, Costello Asset Management INC purchased a new stake in American Financial Group in the first quarter worth $68,000. Hedge funds and other institutional investors own 64.37% of the company’s stock.

Insider Buying and Selling at American Financial Group

In other news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the firm’s 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 in the company, valued at $43,883,106.30. This trade represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 17.40% of the stock is owned by insiders.

American Financial Group Price Performance

AFG opened at $137.26 on Friday. The stock has a fifty day simple moving average of $137.76 and a two-hundred day simple moving average of $129.72. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.33. The company has a market cap of $11.45 billion, a price-to-earnings ratio of 15.08 and a beta of 0.74. American Financial Group, Inc. has a 12-month low of $114.73 and a 12-month high of $150.19.

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

American Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.88 per share. The ex-dividend date is Wednesday, October 15th. This is a boost from American Financial Group’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 2.6%. American Financial Group’s dividend payout ratio is 38.68%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Keefe, Bruyette & Woods dropped their price target on American Financial Group from $127.00 to $124.00 and set a “market perform” rating for the company in a research note on Tuesday, August 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of American Financial Group in a research note on Wednesday. Wall Street Zen raised American Financial Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Jefferies Financial Group raised their price target on American Financial Group from $125.00 to $130.00 and gave the stock a “hold” rating in a research note on Monday, August 11th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, American Financial Group presently has a consensus rating of “Hold” and an average target price 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.