Inceptionr LLC Takes $1.84 Million Position in American Financial Group, Inc. $AFG

Inceptionr LLC purchased a new stake in shares of American Financial Group, Inc. (NYSE:AFG) during the first quarter, Holdings Channel.com reports. The fund purchased 14,374 shares of the insurance provider’s stock, valued at approximately $1,836,000. American Financial Group accounts for approximately 0.4% of Inceptionr LLC’s portfolio, making the stock its 29th largest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cassaday & Co Wealth Management LLC bought a new position in shares of American Financial Group during the 1st quarter worth approximately $26,000. Global Retirement Partners LLC grew its holdings in shares of American Financial Group by 904.8% in the fourth quarter. Global Retirement Partners LLC now owns 211 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 190 shares in the last quarter. Clearstead Advisors LLC increased its position in shares of American Financial Group by 87.7% during the fourth quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 121 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of American Financial Group during the fourth quarter valued at approximately $45,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in American Financial Group by 86.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 376 shares of the insurance provider’s stock worth $51,000 after acquiring an additional 174 shares during the period. 64.37% of the stock is currently owned by hedge funds and other institutional investors.

American Financial Group Trading Up 0.5%

Shares of AFG opened at $141.09 on Friday. American Financial Group, Inc. has a fifty-two week low of $122.11 and a fifty-two week high of $150.02. The business has a 50-day moving average of $136.64 and a 200 day moving average of $132.47. The firm has a market cap of $11.72 billion, a P/E ratio of 13.41 and a beta of 0.62. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.48 and a current ratio of 0.48.

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

American Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Wednesday, July 15th will be given a $0.88 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. American Financial Group’s payout ratio is 33.46%.

Insider Buying and Selling at American Financial Group

In related news, insider David Lawrence Thompson, Jr. sold 11,370 shares of the business’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $135.05, for a total transaction of $1,535,518.50. Following the sale, the insider directly owned 584,098 shares in the company, valued at approximately $78,882,434.90. The trade was a 1.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michelle A. Gillis sold 2,247 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $139.00, for a total value of $312,333.00. Following the sale, the senior vice president directly owned 13,135 shares in the company, valued at $1,825,765. This trade represents a 14.61% decrease in their position. The disclosure for this sale is available in the SEC filing. 16.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AFG shares. Wells Fargo & Company boosted their price objective on American Financial Group from $158.00 to $173.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Piper Sandler lifted their target price on American Financial Group from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods increased their price target on shares of American Financial Group from $140.00 to $148.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American Financial Group in a research report on Thursday, June 11th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, American Financial Group presently has an average rating of “Hold” and a consensus target price of $150.75.

American Financial Group 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.