129,645 Shares in American Financial Group, Inc. $AFG Acquired by Man Group plc

Man Group plc acquired a new position in shares of American Financial Group, Inc. (NYSE:AFG) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 129,645 shares of the insurance provider’s stock, valued at approximately $18,143,000.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of American Financial Group during the 2nd quarter valued at about $1,079,329,000. Charles Schwab Investment Management Inc. increased its position in American Financial Group by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,567,721 shares of the insurance provider’s stock worth $350,956,000 after purchasing an additional 57,246 shares during the last quarter. Geode Capital Management LLC increased its position in American Financial Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 1,732,557 shares of the insurance provider’s stock worth $236,645,000 after purchasing an additional 29,731 shares during the last quarter. Dimensional Fund Advisors LP increased its position in American Financial Group by 19.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,506,510 shares of the insurance provider’s stock worth $192,395,000 after purchasing an additional 240,509 shares during the last quarter. Finally, Northern Trust Corp raised its stake in American Financial Group by 33.2% during the third quarter. Northern Trust Corp now owns 1,026,783 shares of the insurance provider’s stock worth $149,623,000 after purchasing an additional 255,693 shares during the period. 64.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at American Financial Group

In related news, SVP Michelle A. Gillis sold 2,247 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $139.00, for a total transaction of $312,333.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Mark A. Weiss sold 2,813 shares of American Financial Group stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $144.76, for a total transaction of $407,209.88. Following the completion of the sale, the vice president owned 6,648 shares of the company’s stock, valued at $962,364.48. This trade represents a 29.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 16,430 shares of company stock worth $2,255,061. 16.90% of the stock is currently owned by insiders.

American Financial Group Stock Down 1.7%

Shares of AFG opened at $142.55 on Friday. The firm has a market cap of $11.82 billion, a P/E 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 company’s 50-day moving average price is $142.11 and its 200 day moving average price is $134.86. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.38.

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, topping the consensus estimate of $2.32 by $0.50. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.85 billion. American Financial Group had a net margin of 11.51% and a return on equity of 20.35%. American Financial Group’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.14 earnings per share. On average, sell-side analysts forecast that American Financial Group, Inc. will post 12.13 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, July 24th. Stockholders of record on Wednesday, July 15th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Wednesday, July 15th. American Financial Group’s dividend payout ratio is currently 30.77%.

Analysts Set New Price Targets

Several equities analysts have weighed in on AFG shares. Wall Street Zen upgraded shares of American Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Wells Fargo & Company raised 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. Keefe, Bruyette & Woods lifted their price target 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. Weiss Ratings upgraded American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Finally, Piper Sandler increased their price objective on American Financial Group from $140.00 to $156.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $156.00.

About American Financial Group

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.