Norges Bank Invests $114.66 Million in American Financial Group, Inc. $AFG

Norges Bank bought a new stake in American Financial Group, Inc. (NYSE:AFG) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 838,902 shares of the insurance provider’s stock, valued at approximately $114,661,000. Norges Bank owned 1.01% of American Financial Group as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. JB Capital LLC increased its position in American Financial Group by 2.1% during the fourth quarter. JB Capital LLC now owns 4,268 shares of the insurance provider’s stock worth $583,000 after buying an additional 89 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in American Financial Group by 11.5% in the third quarter. EverSource Wealth Advisors LLC now owns 884 shares of the insurance provider’s stock valued at $129,000 after buying an additional 91 shares during the period. Jones Financial Companies Lllp lifted its position in shares of American Financial Group by 12.1% in the third quarter. Jones Financial Companies Lllp now owns 863 shares of the insurance provider’s stock valued at $125,000 after buying an additional 93 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of American Financial Group by 2.2% in the fourth quarter. Larson Financial Group LLC now owns 4,546 shares of the insurance provider’s stock valued at $621,000 after buying an additional 98 shares during the last quarter. Finally, Intrust Bank NA boosted its stake in shares of American Financial Group by 3.6% during the 3rd quarter. Intrust Bank NA now owns 2,935 shares of the insurance provider’s stock worth $428,000 after acquiring an additional 102 shares during the period. 64.37% of the stock is currently owned by institutional investors and hedge funds.

American Financial Group Stock Performance

NYSE:AFG opened at $128.67 on Friday. The stock has a 50 day simple moving average of $131.39 and a 200 day simple moving average of $132.07. The stock has a market cap of $10.69 billion, a P/E ratio of 12.23 and a beta of 0.64. American Financial Group, Inc. has a 1-year low of $121.75 and a 1-year high of $150.02. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.39.

American Financial Group (NYSE:AFG) last issued its quarterly earnings data on Thursday, April 30th. The insurance provider reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.07). The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.70 billion. American Financial Group had a net margin of 10.76% and a return on equity of 19.50%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.81 earnings per share. Research analysts anticipate that American Financial Group, Inc. will post 11.37 earnings per share for the current year.

American Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Wednesday, April 15th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, April 15th. American Financial Group’s dividend payout ratio (DPR) is currently 33.46%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AFG shares. Piper Sandler increased their price target on American Financial Group from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. Weiss Ratings raised shares of American Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 16th. Keefe, Bruyette & Woods increased their price objective on shares of American Financial Group from $134.00 to $140.00 and gave the company a “market perform” rating in a research report on Wednesday, March 25th. Finally, Wells Fargo & Company raised their target price on shares of American Financial Group from $155.00 to $158.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, American Financial Group currently has an average rating of “Hold” and a consensus target price of $145.00.

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.