American Financial Group, Inc. $AFG Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 32.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 407,772 shares of the insurance provider’s stock after acquiring an additional 99,898 shares during the quarter. JPMorgan Chase & Co.’s holdings in American Financial Group were worth $59,421,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Hantz Financial Services Inc. raised its stake in shares of American Financial Group by 421.1% in the 2nd 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 purchased a new position in shares of American Financial Group during the 2nd quarter worth approximately $27,000. Alpine Bank Wealth Management acquired a new stake in American Financial Group in the 3rd quarter valued at approximately $30,000. Root Financial Partners LLC purchased a new stake in American Financial Group in the third quarter valued at approximately $34,000. Finally, Smartleaf Asset Management LLC raised its position in American Financial Group by 165.0% in the third quarter. Smartleaf Asset Management LLC now owns 273 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 170 shares during the period. 64.37% of the stock is currently owned by institutional investors and hedge funds.

American Financial Group Trading Up 0.7%

Shares of NYSE:AFG opened at $131.76 on Thursday. 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 moving average is $132.03 and its two-hundred day moving average is $135.45. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.38. The company has a market cap of $10.99 billion, a PE ratio of 13.08 and a beta of 0.71.

American Financial Group (NYSE:AFG) last released its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $3.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.47. The business had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.79 billion. American Financial Group had a net margin of 10.30% and a return on equity of 18.92%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.12 EPS. Equities analysts predict 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 declared a special dividend, which was paid on Wednesday, February 25th. Shareholders 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 34.96%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AFG. Wells Fargo & Company lowered their price target on American Financial Group from $165.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Piper Sandler increased their target price on American Financial Group from $130.00 to $139.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Jefferies Financial Group restated a “hold” rating and set a $142.00 target price on shares of American Financial Group in a report on Tuesday, November 11th. Finally, Weiss Ratings downgraded American Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. One equities 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.com, the company has an average rating of “Hold” and an average price target of $141.25.

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.