M&T Bank Corp Raises Stake in American Financial Group, Inc. (NYSE:AFG)

M&T Bank Corp lifted its position in American Financial Group, Inc. (NYSE:AFG) by 6.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,019 shares of the insurance provider’s stock after acquiring an additional 182 shares during the quarter. M&T Bank Corp’s holdings in American Financial Group were worth $396,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sowell Financial Services LLC bought a new stake in shares of American Financial Group in the first quarter valued at about $282,000. Intech Investment Management LLC raised its holdings in shares of American Financial Group by 57.1% in the fourth quarter. Intech Investment Management LLC now owns 38,623 shares of the insurance provider’s stock valued at $5,289,000 after acquiring an additional 14,045 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of American Financial Group in the first quarter valued at about $1,370,000. Private Trust Co. NA raised its holdings in shares of American Financial Group by 144.3% in the first quarter. Private Trust Co. NA now owns 215 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 127 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in shares of American Financial Group by 10.5% in the first quarter. QRG Capital Management Inc. now owns 5,427 shares of the insurance provider’s stock valued at $713,000 after acquiring an additional 514 shares in the last quarter. 64.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wall Street Zen downgraded American Financial Group from a “hold” rating to a “sell” rating in a report on Saturday, June 21st. Keefe, Bruyette & Woods boosted their target price on shares of American Financial Group from $125.00 to $127.00 and gave the stock a “market perform” rating in a report on Wednesday, July 9th.

American Financial Group Stock Performance

Shares of American Financial Group stock opened at $125.46 on Thursday. The company has a market capitalization of $10.50 billion, a PE ratio of 13.18 and a beta of 0.71. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.67 and a current ratio of 0.67. The company has a 50-day simple moving average of $124.48 and a two-hundred day simple moving average of $127.17. American Financial Group, Inc. has a one year low of $114.73 and a one year high of $150.19.

American Financial Group (NYSE:AFG) last announced its earnings results on Tuesday, May 6th. The insurance provider reported $1.81 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.36). American Financial Group had a return on equity of 18.34% and a net margin of 9.66%. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the firm posted $2.76 earnings per share. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. Research analysts expect that American Financial Group, Inc. will post 10.5 EPS for the current fiscal year.

American Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Tuesday, July 15th will be paid a dividend of $0.80 per share. The ex-dividend date is Tuesday, July 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.55%. American Financial Group’s payout ratio is 33.61%.

About American Financial Group

American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. The company 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.