Quantinno Capital Management LP Purchases 3,532 Shares of American Financial Group, Inc. $AFG

Quantinno Capital Management LP increased its position in shares of American Financial Group, Inc. (NYSE:AFG) by 7.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,326 shares of the insurance provider’s stock after purchasing an additional 3,532 shares during the period. Quantinno Capital Management LP owned approximately 0.06% of American Financial Group worth $6,172,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of American Financial Group during the fourth quarter valued at approximately $114,661,000. M&T Bank Corp grew its position in American Financial Group by 20,131.5% in the 4th quarter. M&T Bank Corp now owns 637,090 shares of the insurance provider’s stock valued at $87,077,000 after acquiring an additional 633,941 shares during the last quarter. Vestor Capital LLC grew its position in American Financial Group by 100,006.8% in the 4th quarter. Vestor Capital LLC now owns 600,641 shares of the insurance provider’s stock valued at $82,096,000 after acquiring an additional 600,041 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in American Financial Group by 337.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 431,144 shares of the insurance provider’s stock worth $55,061,000 after purchasing an additional 332,517 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in American Financial Group in the fourth quarter worth $43,832,000. 64.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AFG. Keefe, Bruyette & Woods lifted their target price on American Financial Group from $140.00 to $148.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Wells Fargo & Company upped their price target on shares of American Financial Group from $158.00 to $173.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Piper Sandler raised their price target on shares of American Financial Group from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of American Financial Group in a report on Thursday, June 11th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $150.75.

American Financial Group Stock Up 4.0%

Shares of American Financial Group stock opened at $146.26 on Thursday. American Financial Group, Inc. has a 52-week low of $122.88 and a 52-week high of $150.02. The firm’s 50 day moving average price is $137.93 and its 200-day moving average price is $133.14. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.39. The company has a market cap of $12.15 billion, a P/E ratio of 12.79 and a beta of 0.62.

American Financial Group (NYSE:AFG) last announced its earnings results on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.50. American Financial Group had a net margin of 11.51% and a return on equity of 20.43%. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the firm earned $2.14 earnings per share. American Financial Group’s revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts predict that American Financial Group, Inc. will post 11.37 EPS for the current fiscal year.

American Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Wednesday, July 15th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.4%. The ex-dividend date was Wednesday, July 15th. American Financial Group’s payout ratio is 33.46%.

Insider Buying and Selling at American Financial Group

In related news, insider David Lawrence Thompson, Jr. sold 11,370 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $135.05, for a total transaction of $1,535,518.50. Following the transaction, the insider directly owned 584,098 shares of the company’s stock, valued at $78,882,434.90. This represents a 1.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Michelle A. Gillis sold 2,247 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $139.00, for a total value of $312,333.00. Following the completion of the sale, the senior vice president owned 13,135 shares of the company’s stock, valued at approximately $1,825,765. This trade represents a 14.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 16.90% of the stock is owned by insiders.

American Financial Group Profile

American Financial Group, Inc (NYSE: AFG) is a diversified holding company primarily engaged in property and casualty insurance and reinsurance. Through its flagship subsidiary, Great American Insurance Company, the firm underwrites a broad range of specialty insurance products for commercial and industrial clients, including inland marine, excess and surplus lines, executive liability, and environmental liability coverage. In addition, American Financial Group offers supplemental accident and health insurance and assumes reinsurance risks from other insurers, helping to diversify its underwriting portfolio.

The company traces its roots to 1946, when it was founded by Carl Lindner, Sr.