103,013 Shares in American Financial Group, Inc. $AFG Acquired by Freestone Grove Partners LP

Freestone Grove Partners LP acquired a new position in shares of American Financial Group, Inc. (NYSE:AFG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 103,013 shares of the insurance provider’s stock, valued at approximately $14,416,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AFG. Louisiana State Employees Retirement System acquired a new stake in American Financial Group during the first quarter worth about $2,567,000. UBS Group AG raised its position in shares of American Financial Group by 10.1% in the 4th quarter. UBS Group AG now owns 581,805 shares of the insurance provider’s stock valued at $79,521,000 after buying an additional 53,431 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of American Financial Group by 433.2% during the 1st quarter. First Trust Advisors LP now owns 316,974 shares of the insurance provider’s stock worth $40,481,000 after acquiring an additional 257,522 shares during the period. Y Intercept Hong Kong Ltd lifted its holdings in shares of American Financial Group by 281.1% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 28,243 shares of the insurance provider’s stock worth $3,607,000 after acquiring an additional 20,832 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of American Financial Group by 377.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 49,681 shares of the insurance provider’s stock worth $6,790,000 after acquiring an additional 39,279 shares in the last quarter. 64.37% of the stock is owned by institutional investors and hedge funds.

American Financial Group Price Performance

Shares of AFG opened at $142.55 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.38. The stock has a market cap of $11.82 billion, a PE ratio of 12.46 and a beta of 0.62. American Financial Group, Inc. has a 12-month low of $123.09 and a 12-month high of $150.02. The business has a 50-day simple moving average of $142.11 and a two-hundred day simple moving average of $134.86.

American Financial Group (NYSE:AFG) last announced its quarterly earnings results on Tuesday, August 4th. The insurance provider reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.50. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.85 billion. American Financial Group had a return on equity of 20.35% and a net margin of 11.51%.The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm posted $2.14 earnings per share. Analysts anticipate that American Financial Group, Inc. will post 12.13 earnings per share for the current fiscal year.

American Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Wednesday, July 15th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Wednesday, July 15th. American Financial Group’s dividend payout ratio is presently 30.77%.

Analysts Set New Price Targets

AFG has been the subject of several research analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of American Financial Group from $148.00 to $153.00 and gave the company a “market perform” rating in a research report on Tuesday, August 11th. Wells Fargo & Company boosted their target price on American Financial Group from $158.00 to $173.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Piper Sandler raised their price target on shares of American Financial Group from $140.00 to $156.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Wall Street Zen raised shares of American Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Weiss Ratings upgraded shares of American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $156.00.

Insider Activity at American Financial Group

In other American Financial Group 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 value of $1,535,518.50. Following the sale, the insider owned 584,098 shares in the company, valued at approximately $78,882,434.90. The trade was a 1.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Mark A. Weiss sold 2,813 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $144.76, for a total value of $407,209.88. Following the completion of the sale, the vice president directly owned 6,648 shares of the company’s stock, valued at approximately $962,364.48. The trade was a 29.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 16,430 shares of company stock worth $2,255,061 over the last three months. Company insiders own 16.90% of the company’s stock.

American Financial Group Company 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.