MQS Management LLC acquired a new stake in American Financial Group, Inc. (NYSE:AFG – Get Rating) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,247 shares of the insurance provider’s stock, valued at approximately $399,000.
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A number of other hedge funds have also made changes to their positions in AFG. Raymond James & Associates increased its holdings in shares of American Financial Group by 2.7% in the 1st quarter. Raymond James & Associates now owns 10,823 shares of the insurance provider’s stock valued at $1,576,000 after acquiring an additional 284 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of American Financial Group by 26.6% in the 1st quarter. American Century Companies Inc. now owns 14,648 shares of the insurance provider’s stock valued at $2,133,000 after acquiring an additional 3,076 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of American Financial Group by 4.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,474 shares of the insurance provider’s stock valued at $798,000 after acquiring an additional 212 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of American Financial Group by 5.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 50,464 shares of the insurance provider’s stock valued at $7,610,000 after acquiring an additional 2,635 shares during the last quarter. Finally, Cibc World Market Inc. increased its holdings in shares of American Financial Group by 23.8% in the 1st quarter. Cibc World Market Inc. now owns 5,617 shares of the insurance provider’s stock valued at $818,000 after acquiring an additional 1,081 shares during the last quarter. Hedge funds and other institutional investors own 64.04% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently issued reports on AFG. BMO Capital Markets began coverage on American Financial Group in a research report on Thursday, January 19th. They issued a “market perform” rating and a $155.00 target price for the company. Piper Sandler upped their target price on American Financial Group from $162.00 to $168.00 and gave the company an “overweight” rating in a research report on Tuesday, January 10th. Finally, Morgan Stanley upped their target price on American Financial Group from $146.00 to $150.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 22nd. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, American Financial Group has a consensus rating of “Hold” and an average price target of $162.75.
Insiders Place Their Bets
In other American Financial Group news, insider John B. Berding sold 5,417 shares of the stock in a transaction that occurred on Friday, February 10th. The stock was sold at an average price of $136.62, for a total transaction of $740,070.54. Following the completion of the sale, the insider now directly owns 36,083 shares of the company’s stock, valued at approximately $4,929,659.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.60% of the stock is owned by insiders.
American Financial Group Stock Performance
Shares of NYSE AFG traded down $5.31 during trading hours on Wednesday, reaching $114.44. The stock had a trading volume of 175,211 shares, compared to its average volume of 366,283. American Financial Group, Inc. has a fifty-two week low of $114.34 and a fifty-two week high of $152.29. The firm has a 50-day moving average of $135.33 and a 200-day moving average of $134.81. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.37. The firm has a market cap of $9.75 billion, a price-to-earnings ratio of 10.89 and a beta of 0.84.
American Financial Group (NYSE:AFG – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The insurance provider reported $2.99 earnings per share for the quarter, topping analysts’ consensus estimates of $2.95 by $0.04. American Financial Group had a return on equity of 23.52% and a net margin of 12.76%. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same period last year, the firm earned $4.12 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. Equities research analysts predict that American Financial Group, Inc. will post 11.7 earnings per share for the current year.
American Financial Group Cuts Dividend
The business also recently disclosed a None dividend, which was paid on Tuesday, February 28th. Shareholders of record on Wednesday, February 15th were given a dividend of $4.00 per share. The ex-dividend date of this dividend was Tuesday, February 14th. American Financial Group’s payout ratio is 23.93%.
American Financial Group Company Profile
American Financial Group, Inc is an insurance holding company. It engages in property and casualty insurance, focusing on commercial products for businesses, and in the sale of fixed and fixed-indexed annuities in the retail, financial institutions and education markets. The company was founded by Carl Henry Lindner Jr.
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