Mirae Asset Global Investments Co. Ltd. Purchases New Holdings in American Financial Group, Inc. $AFG

Mirae Asset Global Investments Co. Ltd. acquired a new stake in American Financial Group, Inc. (NYSE:AFG) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 65,745 shares of the insurance provider’s stock, valued at approximately $8,991,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.08% of American Financial Group at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in American Financial Group in the 2nd quarter valued at about $1,079,329,000. Dimensional Fund Advisors LP increased its stake in American Financial Group by 19.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,506,510 shares of the insurance provider’s stock valued at $192,395,000 after acquiring an additional 240,509 shares during the last quarter. Bank of New York Mellon Corp bought a new position in American Financial Group in the second quarter valued at approximately $102,590,000. Arrowstreet Capital Limited Partnership raised its position in American Financial Group by 337.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 431,144 shares of the insurance provider’s stock valued at $55,061,000 after purchasing an additional 332,517 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in American Financial Group during the second quarter worth $53,939,000. 64.37% of the stock is owned by institutional investors and hedge funds.

More American Financial Group News

Here are the key news stories impacting American Financial Group this week:

• Positive Sentiment: AFG reported third-quarter adjusted earnings of $3.97 per share, above the $3.80 analyst consensus, while revenue of $2.58 billion also exceeded estimates of $2.40 billion. Earnings were higher than a year earlier, supporting the positive reaction. American Financial Group Q3 Earnings and Revenues Top Estimates
• Positive Sentiment: The company declared a $3.50-per-share special cash dividend, payable November 25 to shareholders of record November 16. The payout may appeal to income-focused investors and signals a return of capital. American Financial Group Declares Special Cash Dividend
• Neutral Sentiment: Reported net earnings were $3.40 per share, below adjusted EPS, because non-core items reduced income by $0.57 per share. This distinction tempers the headline results but does not erase the earnings and revenue beats. American Financial Group Announces Third Quarter Results and Declares Special Dividend
• Negative Sentiment: AFG’s property-and-casualty combined ratio worsened by 90 basis points to 94%. Although still below 100%, the increase suggests some pressure on underwriting performance. AFG P&C Combined Ratio Worsens in Q3

Insider Activity

In other American Financial Group news, CFO Brian Hertzman sold 950 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $142.87, for a total value of $135,726.50. Following the sale, the chief financial officer directly owned 11,123 shares of the company’s stock, valued at approximately $1,589,143.01. This trade represents a 7.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AFG shares. Wall Street Zen raised American Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Wells Fargo & Company cut their target price on American Financial Group from $175.00 to $166.00 and set an “overweight” rating on the stock in a research note on Monday, October 12th. Keefe, Bruyette & Woods dropped their price target on shares of American Financial Group from $153.00 to $147.00 and set a “market perform” rating on the stock in a report on Monday, October 12th. Weiss Ratings raised 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 target price on American Financial Group from $140.00 to $156.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $152.75.

American Financial Group Stock Performance

Shares of NYSE:AFG opened at $154.36 on Thursday. American Financial Group, Inc. has a one year low of $123.09 and a one year high of $156.24. The firm has a market cap of $12.80 billion, a PE ratio of 12.59 and a beta of 0.55. The firm’s 50 day simple moving average is $144.40 and its 200-day simple moving average is $136.76. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.49 and a current ratio of 0.49.

American Financial Group (NYSE:AFG) last posted its earnings results on Tuesday, November 3rd. The insurance provider reported $3.97 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.17. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.40 billion. American Financial Group had a net margin of 11.96% and a return on equity of 22.50%. During the same quarter last year, the firm posted $2.69 EPS. As a group, equities analysts predict that American Financial Group, Inc. will post 12.29 EPS for the current year.

American Financial Group Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, November 16th will be paid a dividend of $3.50 per share. The ex-dividend date is Monday, November 16th. American Financial Group’s payout ratio is presently 33.92%.

American Financial Group Profile

American Financial Group, Inc (NYSE:AFG) is an insurance holding company headquartered in Cincinnati, Ohio. Through its Great American Insurance Group operations, the company primarily provides property and casualty insurance, with an emphasis on specialty commercial products and markets.

Its insurance offerings serve businesses, organizations and individuals across a range of industries. Product lines have included commercial property and liability coverage, workers’ compensation, transportation, agriculture and crop insurance, marine and other specialty risks.