Illinois Municipal Retirement Fund Boosts Stake in American Financial Group, Inc. $AFG

Illinois Municipal Retirement Fund lifted its position in American Financial Group, Inc. (NYSE:AFG) by 34.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,836 shares of the insurance provider’s stock after purchasing an additional 7,661 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in American Financial Group were worth $4,348,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in AFG. Hantz Financial Services Inc. boosted its holdings in shares of American Financial Group by 421.1% in the second quarter. Hantz Financial Services Inc. now owns 198 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 160 shares during the period. Atlantic Union Bankshares Corp acquired a new position in shares of American Financial Group in the 2nd quarter valued at $27,000. Alpine Bank Wealth Management purchased a new stake in American Financial Group in the 3rd quarter valued at $30,000. Root Financial Partners LLC purchased a new stake in American Financial Group in the 3rd quarter valued at $34,000. Finally, Smartleaf Asset Management LLC boosted its stake in 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. Institutional investors and hedge funds own 64.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on AFG. Weiss Ratings lowered shares of American Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Jefferies Financial Group reissued a “hold” rating and set a $142.00 price target on shares of American Financial Group in a report on Tuesday, November 11th. Wells Fargo & Company reduced their price objective on American Financial Group from $165.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. Finally, Piper Sandler increased their price objective on American Financial Group from $130.00 to $139.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $141.25.

American Financial Group Trading Down 0.1%

Shares of American Financial Group stock opened at $128.85 on Friday. The firm has a market cap of $10.75 billion, a price-to-earnings ratio of 12.80 and a beta of 0.71. American Financial Group, Inc. has a 52-week low of $114.73 and a 52-week high of $150.02. The company’s 50-day simple moving average is $132.84 and its 200-day simple moving average is $135.18. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.38.

American Financial Group (NYSE:AFG) last announced its quarterly earnings data 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 net margin of 10.30% and a return on equity of 18.92%. The firm had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the firm earned $3.12 earnings per share. The firm’s revenue was down 4.0% compared to the same quarter last year. As a group, equities research analysts anticipate that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Wednesday, February 25th. Investors of record on Monday, February 16th will be paid a $1.50 dividend. The ex-dividend date is Friday, February 13th. American Financial Group’s payout ratio is 34.96%.

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.