The Manufacturers Life Insurance Company Takes $21.16 Million Position in American Financial Group, Inc. $AFG

The Manufacturers Life Insurance Company purchased a new position in American Financial Group, Inc. (NYSE:AFG) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 151,187 shares of the insurance provider’s stock, valued at approximately $21,157,000. The Manufacturers Life Insurance Company owned about 0.18% of American Financial Group at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Steph & Co. increased its stake in American Financial Group by 11.5% during the 1st quarter. Steph & Co. now owns 787 shares of the insurance provider’s stock valued at $101,000 after purchasing an additional 81 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in shares of American Financial Group by 4.4% in the first quarter. Fifth Third Wealth Advisors LLC now owns 1,975 shares of the insurance provider’s stock worth $252,000 after buying an additional 83 shares in the last quarter. Valmark Advisers Inc. lifted its stake in shares of American Financial Group by 1.0% in the first quarter. Valmark Advisers Inc. now owns 8,307 shares of the insurance provider’s stock worth $1,061,000 after buying an additional 85 shares in the last quarter. OMERS ADMINISTRATION Corp grew its holdings in shares of American Financial Group by 3.0% during the first quarter. OMERS ADMINISTRATION Corp now owns 3,061 shares of the insurance provider’s stock valued at $391,000 after buying an additional 88 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of American Financial Group by 2.2% during the fourth quarter. Larson Financial Group LLC now owns 4,546 shares of the insurance provider’s stock valued at $621,000 after buying an additional 98 shares during the last quarter. Institutional investors own 64.37% of the company’s stock.

American Financial Group Price Performance

Shares of AFG opened at $142.55 on Friday. The firm has a fifty day simple moving average of $142.11 and a two-hundred day simple moving average of $134.86. The firm has a market cap of $11.82 billion, a PE ratio of 12.46 and a beta of 0.62. 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, Inc. has a 1-year low of $123.09 and a 1-year high of $150.02.

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

American Financial Group Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently commented on AFG shares. Wells Fargo & Company increased their price objective on American Financial Group from $158.00 to $173.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Piper Sandler boosted their target price 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. Keefe, Bruyette & Woods upped their target price on shares of American Financial Group from $148.00 to $153.00 and gave the company a “market perform” rating in a research note on Tuesday, August 11th. 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 raised shares of American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, American Financial Group presently has a consensus rating of “Hold” and a consensus price target of $156.00.

Insiders Place Their Bets

In other American Financial Group news, VP Mark A. Weiss sold 2,813 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was 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 directly owned 6,648 shares in the company, valued at $962,364.48. The trade was a 29.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michelle A. Gillis sold 2,247 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $139.00, for a total transaction of $312,333.00. Following the sale, the senior vice president directly owned 13,135 shares of the company’s stock, valued at $1,825,765. The trade was a 14.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 16,430 shares of company stock valued at $2,255,061. 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.