New York Life Investment Management LLC Invests $908,000 in American Financial Group, Inc. $AFG

New York Life Investment Management LLC bought a new position in shares of American Financial Group, Inc. (NYSE:AFG) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 6,644 shares of the insurance provider’s stock, valued at approximately $908,000.

Other hedge funds also recently made changes to their positions in the company. Root Financial Partners LLC bought a new stake in shares of American Financial Group during the 3rd quarter worth $34,000. Smartleaf Asset Management LLC raised its stake in shares of American Financial Group by 165.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 273 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 170 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in shares of American Financial Group during the 3rd quarter worth $44,000. Bessemer Group Inc. raised its stake in shares of American Financial Group by 332.9% during the 3rd quarter. Bessemer Group Inc. now owns 368 shares of the insurance provider’s stock worth $54,000 after purchasing an additional 283 shares during the period. Finally, State of Wyoming bought a new stake in shares of American Financial Group during the 2nd quarter worth $57,000. 64.37% of the stock is currently owned by institutional investors.

American Financial Group Stock Down 0.4%

AFG stock opened at $136.29 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $11.32 billion, a PE ratio of 12.96 and a beta of 0.65. American Financial Group, Inc. has a twelve month low of $120.52 and a twelve month high of $150.02. The stock has a 50-day simple moving average of $130.09 and a two-hundred day simple moving average of $132.50.

American Financial Group (NYSE:AFG) last posted its earnings results on Thursday, April 30th. The insurance provider reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.07). The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.70 billion. American Financial Group had a net margin of 10.76% and a return on equity of 19.50%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.81 EPS. On average, equities analysts predict that American Financial Group, Inc. will post 11.21 EPS for the current fiscal year.

American Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Wednesday, April 15th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Wednesday, April 15th. American Financial Group’s payout ratio is presently 33.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AFG shares. Piper Sandler lifted their target price on American Financial Group from $129.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Wells Fargo & Company boosted their price objective on American Financial Group from $155.00 to $158.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded American Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 16th. Finally, Keefe, Bruyette & Woods boosted their price objective on American Financial Group from $134.00 to $140.00 and gave the company a “market perform” rating in a research note on Wednesday, March 25th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $143.75.

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 dated Friday, February 27th. The stock was sold at an average price of $133.70, for a total transaction of $222,343.10. Following the completion of the transaction, the chief financial officer owned 12,073 shares of the company’s stock, valued at $1,614,160.10. The trade was a 12.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 16.90% of the stock is owned by insiders.

American Financial Group Company Profile

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.