Van ECK Associates Corp Increases Stock Position in American Financial Group, Inc. (NYSE:AFG)

Van ECK Associates Corp boosted its stake in shares of American Financial Group, Inc. (NYSE:AFGGet Rating) by 6.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,082 shares of the insurance provider’s stock after buying an additional 468 shares during the quarter. Van ECK Associates Corp’s holdings in American Financial Group were worth $994,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Bishop Rock Capital L.P. lifted its position in shares of American Financial Group by 5,124.6% during the second quarter. Bishop Rock Capital L.P. now owns 5,607,646 shares of the insurance provider’s stock worth $40,398,000 after purchasing an additional 5,500,315 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of American Financial Group by 4.3% during the first quarter. Vanguard Group Inc. now owns 7,544,354 shares of the insurance provider’s stock worth $1,098,609,000 after purchasing an additional 313,115 shares in the last quarter. Bain Capital Public Equity Management II LLC acquired a new stake in shares of American Financial Group during the second quarter worth about $43,458,000. Prudential Financial Inc. lifted its position in shares of American Financial Group by 253.0% during the second quarter. Prudential Financial Inc. now owns 297,976 shares of the insurance provider’s stock worth $41,361,000 after purchasing an additional 213,563 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of American Financial Group by 70.2% during the second quarter. Millennium Management LLC now owns 405,373 shares of the insurance provider’s stock worth $56,270,000 after purchasing an additional 167,239 shares in the last quarter. Hedge funds and other institutional investors own 64.04% of the company’s stock.

American Financial Group Stock Up 1.3 %

Shares of NYSE:AFG opened at $143.12 on Monday. The firm’s 50 day moving average price is $139.58 and its 200 day moving average price is $134.65. The stock has a market cap of $12.19 billion, a price-to-earnings ratio of 12.48 and a beta of 0.83. American Financial Group, Inc. has a fifty-two week low of $119.01 and a fifty-two week high of $152.29. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.39.

American Financial Group (NYSE:AFGGet Rating) last issued its earnings results on Wednesday, November 2nd. The insurance provider reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.04. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.51 billion. American Financial Group had a net margin of 14.22% and a return on equity of 24.41%. The firm’s revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.71 earnings per share. As a group, equities research analysts predict that American Financial Group, Inc. will post 11.6 earnings per share for the current fiscal year.

American Financial Group Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Friday, January 13th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, January 12th. This represents a $2.52 annualized dividend and a yield of 1.76%. American Financial Group’s dividend payout ratio is currently 21.97%.

Wall Street Analyst Weigh In

AFG has been the topic of several research reports. StockNews.com initiated coverage on shares of American Financial Group in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Piper Sandler raised their target price on shares of American Financial Group from $162.00 to $168.00 and gave the company an “overweight” rating in a report on Tuesday, January 10th. Finally, Morgan Stanley raised their target price on shares of American Financial Group from $146.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, November 22nd.

Insider Buying and Selling at American Financial Group

In other American Financial Group news, insider John B. Berding sold 12,745 shares of the stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $146.24, for a total value of $1,863,828.80. Following the transaction, the insider now directly owns 36,083 shares in the company, valued at $5,276,777.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other American Financial Group news, insider John B. Berding sold 4,000 shares of the stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $148.87, for a total value of $595,480.00. Following the transaction, the insider now directly owns 36,083 shares in the company, valued at $5,371,676.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John B. Berding sold 12,745 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $146.24, for a total transaction of $1,863,828.80. Following the transaction, the insider now owns 36,083 shares in the company, valued at $5,276,777.92. The disclosure for this sale can be found here. 14.60% of the stock is currently owned by insiders.

American Financial Group Company Profile

(Get Rating)

American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. It offers property and transportation insurance products, such as physical damage and liability coverage for buses and trucks, inland and ocean marine, agricultural-related products, and other commercial property and specialty transportation coverages; specialty casualty insurance, including primarily excess and surplus, executive and professional liability, general liability, umbrella and excess liability, and specialty coverage in targeted markets, as well as customized programs for small to mid-sized businesses and workers' compensation insurance; and specialty financial insurance products comprising risk management insurance programs for lending and leasing institutions, fidelity and surety products, and trade credit insurance.

Featured Stories

Institutional Ownership by Quarter for American Financial Group (NYSE:AFG)

Receive News & Ratings for American Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.