Dockside LLC Makes New Investment in American Financial Group, Inc. $AFG

Dockside LLC acquired a new stake in American Financial Group, Inc. (NYSE:AFG) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 8,539 shares of the insurance provider’s stock, valued at approximately $1,195,000.

Other institutional investors also recently modified their holdings of the company. Cassaday & Co Wealth Management LLC acquired a new stake in shares of American Financial Group in the first quarter valued at approximately $26,000. Global Retirement Partners LLC lifted its holdings in American Financial Group by 904.8% during the 4th quarter. Global Retirement Partners LLC now owns 211 shares of the insurance provider’s stock worth $29,000 after buying an additional 190 shares in the last quarter. Clearstead Advisors LLC boosted its position in American Financial Group by 87.7% in the 4th quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider’s stock valued at $35,000 after buying an additional 121 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in American Financial Group in the 4th quarter valued at $45,000. Finally, CIBC Private Wealth Group LLC boosted its position in American Financial Group by 86.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 376 shares of the insurance provider’s stock valued at $51,000 after buying an additional 174 shares during the last quarter. 64.37% of the stock is owned by institutional investors.

Insider Activity at American Financial Group

In other American Financial Group news, SVP Michelle A. Gillis sold 2,247 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $139.00, for a total transaction of $312,333.00. Following the transaction, the senior vice president owned 13,135 shares in the company, valued at approximately $1,825,765. This trade represents a 14.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $135.05, for a total value of $1,535,518.50. Following the transaction, the insider owned 584,098 shares of the company’s stock, valued at $78,882,434.90. The trade was a 1.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 16,430 shares of company stock worth $2,255,061. 16.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AFG. Weiss Ratings upgraded American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. Piper Sandler raised their price target on American Financial Group from $140.00 to $156.00 and gave the company a “neutral” rating in a report on Monday. Wells Fargo & Company lifted 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. Wall Street Zen raised American Financial Group from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Keefe, Bruyette & Woods upped their target price on shares of American Financial Group from $148.00 to $153.00 and gave the company a “market perform” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $156.00.

American Financial Group Price Performance

AFG opened at $146.15 on Friday. The company has a fifty day moving average price of $140.07 and a two-hundred day moving average price of $133.85. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.49 and a current ratio of 0.49. American Financial Group, Inc. has a 52 week low of $123.09 and a 52 week high of $150.02. The firm has a market capitalization of $12.12 billion, a PE ratio of 12.78 and a beta of 0.62.

American Financial Group (NYSE:AFG) last issued its earnings results on Tuesday, August 4th. The insurance provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.32 by $0.50. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.85 billion. American Financial Group had a net margin of 11.51% and a return on equity of 20.35%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.14 EPS. As a group, analysts anticipate that American Financial Group, Inc. will post 11.73 earnings per share for the current year.

American Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Wednesday, July 15th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Wednesday, July 15th. American Financial Group’s dividend payout ratio is currently 30.77%.

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.