Nilsine Partners LLC Acquires New Holdings in American Financial Group, Inc. $AFG

Nilsine Partners LLC bought a new stake in American Financial Group, Inc. (NYSE:AFG) in the second quarter, Holdings Channel.com reports. The institutional investor bought 11,174 shares of the insurance provider’s stock, valued at approximately $1,564,000.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of American Financial Group in the second quarter worth about $1,079,329,000. Norges Bank bought a new stake in shares of American Financial Group during the 4th quarter worth about $114,661,000. Bank of New York Mellon Corp acquired a new position in shares of American Financial Group during the 2nd quarter valued at about $102,590,000. Vestor Capital LLC increased its holdings in shares of American Financial Group by 100,006.8% during the 4th quarter. Vestor Capital LLC now owns 600,641 shares of the insurance provider’s stock valued at $82,096,000 after acquiring an additional 600,041 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in shares of American Financial Group in the 2nd quarter valued at approximately $53,939,000. 64.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. 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 report on Monday, August 10th. Wall Street Zen upgraded American Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings upgraded shares of American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Wells Fargo & Company boosted their price objective on shares of American Financial Group from $158.00 to $173.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of American Financial Group from $148.00 to $153.00 and gave the stock a “market perform” rating in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, American Financial Group has an average rating of “Hold” and an average price target of $156.00.

Insider Activity at American Financial Group

In related news, VP Mark 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 owned 6,648 shares in the company, valued at approximately $962,364.48. This trade represents a 29.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Thompson, Jr. sold 11,370 shares of American Financial Group 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 directly owned 584,098 shares in the company, valued at approximately $78,882,434.90. This trade represents a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 17,380 shares of company stock valued at $2,390,788. Company insiders own 16.90% of the company’s stock.

American Financial Group Price Performance

Shares of NYSE:AFG opened at $142.89 on Monday. The company has a market cap of $11.85 billion, a price-to-earnings ratio of 12.49 and a beta of 0.60. The business has a 50 day moving average price of $142.94 and a 200 day moving average price of $135.45. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.38. American Financial Group, Inc. has a twelve month low of $123.09 and a twelve month high of $150.02.

American Financial Group (NYSE:AFG) last issued its quarterly earnings results on Tuesday, August 4th. The insurance provider reported $2.82 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 company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the company earned $2.14 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Research analysts predict that American Financial Group, Inc. will post 12.13 earnings per share for the current year.

American Financial Group Dividend Announcement

The business also recently declared 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 30.77%.

American Financial Group 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.