Elevation Point Wealth Partners LLC Increases Holdings in American Financial Group, Inc. $AFG

Elevation Point Wealth Partners LLC boosted its stake in American Financial Group, Inc. (NYSE:AFG) by 21,948.0% in the 3rd quarter, Holdings Channel reports. The firm owned 11,024 shares of the insurance provider’s stock after buying an additional 10,974 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in American Financial Group were worth $1,606,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its position in shares of American Financial Group by 8.0% in the third quarter. ProShare Advisors LLC now owns 278,279 shares of the insurance provider’s stock worth $40,551,000 after buying an additional 20,554 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of American Financial Group by 9.7% during the 3rd quarter. Allianz Asset Management GmbH now owns 335,673 shares of the insurance provider’s stock valued at $48,914,000 after buying an additional 29,593 shares during the period. Caxton Associates LLP purchased a new stake in shares of American Financial Group during the 2nd quarter valued at about $1,790,000. Brandywine Global Investment Management LLC lifted its position in American Financial Group by 33.6% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 94,788 shares of the insurance provider’s stock worth $11,963,000 after acquiring an additional 23,838 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in American Financial Group by 10.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,127,518 shares of the insurance provider’s stock worth $164,293,000 after acquiring an additional 110,872 shares in the last quarter. 64.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AFG has been the subject of several recent research reports. Weiss Ratings downgraded shares of American Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Wells Fargo & Company reduced their target price on shares of American Financial Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $141.25.

American Financial Group Stock Down 0.1%

Shares of NYSE AFG opened at $128.12 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.23 and a current ratio of 0.23. American Financial Group, Inc. has a 1 year low of $114.73 and a 1 year high of $150.02. The stock’s 50-day simple moving average is $130.45 and its 200-day simple moving average is $135.29. The firm has a market cap of $10.67 billion, a price-to-earnings ratio of 12.72 and a beta of 0.69.

American Financial Group (NYSE:AFG) last issued its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $3.65 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.47. American Financial Group had a return on equity of 18.64% and a net margin of 10.30%.The firm had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the business posted $3.12 earnings per share. American Financial Group’s revenue for the quarter was down 4.0% on a year-over-year basis. As a group, equities analysts anticipate that American Financial Group, Inc. will post 10.5 earnings per share for the current fiscal year.

American Financial Group Announces Dividend

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

Insider Activity at American Financial Group

In other news, CFO Brian S. Hertzman sold 1,663 shares of the firm’s 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 completion of the sale, the chief financial officer 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 17.40% of the company’s stock.

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.