Assenagon Asset Management S.A. Has $12.75 Million Stake in American Financial Group, Inc. $AFG

Assenagon Asset Management S.A. increased its holdings in shares of American Financial Group, Inc. (NYSE:AFG) by 3,295.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 93,270 shares of the insurance provider’s stock after purchasing an additional 90,523 shares during the period. Assenagon Asset Management S.A. owned approximately 0.11% of American Financial Group worth $12,748,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its holdings in shares of American Financial Group by 8.0% during the third quarter. ProShare Advisors LLC now owns 278,279 shares of the insurance provider’s stock valued at $40,551,000 after acquiring an additional 20,554 shares during the period. Allianz Asset Management GmbH grew its holdings in shares of American Financial Group by 9.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 335,673 shares of the insurance provider’s stock worth $48,914,000 after purchasing an additional 29,593 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of American Financial Group during the second quarter worth approximately $1,790,000. Dimensional Fund Advisors LP raised its stake in shares of American Financial Group by 10.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,127,518 shares of the insurance provider’s stock valued at $164,293,000 after acquiring an additional 110,872 shares during the last quarter. Finally, Rakuten Investment Management Inc. acquired a new position in shares of American Financial Group in the 3rd quarter worth approximately $9,432,000. 64.37% of the stock is currently owned by institutional investors.

American Financial Group Stock Down 2.6%

American Financial Group stock opened at $125.58 on Friday. The firm has a market capitalization of $10.46 billion, a price-to-earnings ratio of 12.47 and a beta of 0.69. The firm’s fifty day moving average price is $129.35 and its two-hundred day moving average price is $134.60. American Financial Group, Inc. has a 1-year low of $114.73 and a 1-year high of $150.02. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.38.

American Financial Group (NYSE:AFG) last posted its earnings results on Wednesday, February 4th. The insurance provider reported $3.65 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.47. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.79 billion. American Financial Group had a return on equity of 18.64% and a net margin of 10.30%.The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the company earned $3.12 earnings per share. On average, equities research analysts predict that American Financial Group, Inc. will post 10.5 earnings per share for the current fiscal year.

American Financial Group Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Wednesday, February 25th. Stockholders of record on Monday, February 16th were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Friday, February 13th. American Financial Group’s payout ratio is presently 34.96%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AFG. Keefe, Bruyette & Woods upped their target price on shares of American Financial Group from $134.00 to $140.00 and gave the stock a “market perform” rating in a research report on Wednesday. Wells Fargo & Company cut their price objective on shares of American Financial Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. Finally, Weiss Ratings upgraded shares of American Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 16th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $145.25.

Insiders Place Their Bets

In other American Financial Group news, CFO Brian S. Hertzman sold 1,663 shares of American Financial Group stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $133.70, for a total transaction of $222,343.10. Following the transaction, the chief financial officer directly owned 12,073 shares of the company’s stock, valued at approximately $1,614,160.10. This trade represents a 12.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 17.40% of the stock is owned by insiders.

About American Financial Group

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.