The Manufacturers Life Insurance Company Has $19.40 Million Stock Position in American Financial Group, Inc. $AFG

The Manufacturers Life Insurance Company boosted its holdings in shares of American Financial Group, Inc. (NYSE:AFG) by 5.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 151,888 shares of the insurance provider’s stock after buying an additional 8,220 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in American Financial Group were worth $19,398,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Steph & Co. boosted its stake in shares of American Financial Group by 11.5% during the 1st quarter. Steph & Co. now owns 787 shares of the insurance provider’s stock worth $101,000 after acquiring an additional 81 shares during the period. Fifth Third Wealth Advisors LLC lifted its holdings in American Financial Group by 4.4% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,975 shares of the insurance provider’s stock valued at $252,000 after purchasing an additional 83 shares during the last quarter. Valmark Advisers Inc. lifted its holdings in American Financial Group by 1.0% during the 1st quarter. Valmark Advisers Inc. now owns 8,307 shares of the insurance provider’s stock valued at $1,061,000 after purchasing an additional 85 shares during the last quarter. OMERS ADMINISTRATION Corp increased its holdings in shares of American Financial Group by 3.0% in the first quarter. OMERS ADMINISTRATION Corp now owns 3,061 shares of the insurance provider’s stock valued at $391,000 after purchasing an additional 88 shares during the last quarter. Finally, JB Capital LLC lifted its stake in shares of American Financial Group by 2.1% during the 4th quarter. JB Capital LLC now owns 4,268 shares of the insurance provider’s stock worth $583,000 after buying an additional 89 shares during the last quarter. Institutional investors own 64.37% of the company’s stock.

Insiders Place Their Bets

In other news, insider David Lawrence Thompson, Jr. sold 11,370 shares of the company’s stock in a transaction on 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 completion of the sale, the insider directly owned 584,098 shares in the company, valued at approximately $78,882,434.90. This represents a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michelle A. Gillis sold 2,247 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $139.00, for a total value of $312,333.00. Following the sale, the senior vice president directly owned 13,135 shares in the company, valued at approximately $1,825,765. This trade represents a 14.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 16.90% of the company’s stock.

American Financial Group Price Performance

NYSE:AFG opened at $141.72 on Friday. American Financial Group, Inc. has a 52 week low of $122.11 and a 52 week high of $150.02. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.48 and a current ratio of 0.48. The firm’s 50-day simple moving average is $137.47 and its 200 day simple moving average is $132.87. The firm has a market cap of $11.78 billion, a price-to-earnings ratio of 13.47 and a beta of 0.62.

American Financial Group (NYSE:AFG) last posted its quarterly earnings data on Thursday, April 30th. The insurance provider reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.07). American Financial Group had a net margin of 10.76% and a return on equity of 19.50%. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the firm earned $1.81 EPS. The business’s revenue for the quarter was down .1% on a year-over-year basis. As a group, sell-side analysts predict that American Financial Group, Inc. will post 11.37 earnings per share for the current year.

American Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Wednesday, July 15th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Wednesday, July 15th. American Financial Group’s payout ratio is presently 33.46%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AFG shares. Piper Sandler upped their price target on shares of American Financial Group from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods raised their price objective on shares of 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American Financial Group in a research report on Thursday, June 11th. Finally, Wells Fargo & Company increased 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. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $150.75.

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.