Allworth Financial LP Grows Stock Holdings in American Financial Group, Inc. $AFG

Allworth Financial LP raised its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 4,760.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 46,468 shares of the insurance provider’s stock after buying an additional 45,512 shares during the period. Allworth Financial LP owned about 0.06% of American Financial Group worth $5,865,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its position in American Financial Group by 421.1% during the second quarter. Hantz Financial Services Inc. now owns 198 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 160 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of American Financial Group during the 2nd quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of American Financial Group during the 1st quarter worth $34,000. Headlands Technologies LLC acquired a new position in American Financial Group in the 1st quarter valued at about $55,000. Finally, IFP Advisors Inc increased its stake in American Financial Group by 86.7% during the second quarter. IFP Advisors Inc now owns 422 shares of the insurance provider’s stock worth $57,000 after acquiring an additional 196 shares during the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.

Insiders Place Their Bets

In related news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $134.31, for a total value of $1,343,100.00. Following the transaction, the director owned 326,730 shares in the company, valued at approximately $43,883,106.30. The trade was a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brian S. Hertzman sold 1,777 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $142.51, for a total transaction of $253,240.27. Following the transaction, the chief financial officer owned 11,300 shares in the company, valued at $1,610,363. This trade represents a 13.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 17.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AFG shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $142.00 price objective on shares of American Financial Group in a research note on Tuesday. Keefe, Bruyette & Woods decreased their price target on American Financial Group from $127.00 to $124.00 and set a “market perform” rating for the company in a report on Tuesday, August 12th. Wall Street Zen upgraded shares of American Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Piper Sandler upped their target price on American Financial Group from $130.00 to $139.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings raised shares of American Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $137.00.

American Financial Group Stock Performance

Shares of AFG opened at $142.32 on Wednesday. American Financial Group, Inc. has a 1 year low of $114.73 and a 1 year high of $150.19. The company’s 50 day simple moving average is $138.85 and its 200 day simple moving average is $131.01. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $11.87 billion, a price-to-earnings ratio of 15.64 and a beta of 0.78.

American Financial Group (NYSE:AFG) last released its earnings results on Tuesday, November 4th. The insurance provider reported $2.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.34. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.02 billion. American Financial Group had a net margin of 9.21% and a return on equity of 17.41%. American Financial Group’s revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.31 earnings per share. On average, sell-side analysts predict that American Financial Group, Inc. will post 10.5 EPS for the current year.

American Financial Group Announces Dividend

The company also recently announced a special dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Monday, November 17th. American Financial Group’s payout ratio is presently 36.97%.

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.