The Manufacturers Life Insurance Company Takes $21.16 Million Position in American Financial Group, Inc. $AFG

The Manufacturers Life Insurance Company acquired a new position in American Financial Group, Inc. (NYSE:AFG) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 151,187 shares of the insurance provider’s stock, valued at approximately $21,157,000.

A number of other institutional investors also recently bought and sold shares of AFG. Cassaday & Co Wealth Management LLC purchased a new stake in American Financial Group in the first quarter worth about $26,000. Global Retirement Partners LLC lifted its position in shares of American Financial Group by 904.8% during the 4th quarter. Global Retirement Partners LLC now owns 211 shares of the insurance provider’s stock valued at $29,000 after buying an additional 190 shares in the last quarter. Clearstead Advisors LLC lifted its position in shares of American Financial Group by 87.7% during 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 in the last quarter. Keating Financial Advisory Services Inc. bought a new position in shares of American Financial Group during the 2nd quarter valued at approximately $42,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of American Financial Group during the 4th quarter valued at approximately $45,000. 64.37% of the stock is owned by institutional investors.

Insider Buying and Selling at American Financial Group

In other American Financial Group news, SVP Michelle A. Gillis sold 2,247 shares of American Financial Group stock in a transaction on Wednesday, June 24th. The shares were 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 approximately $1,825,765. The trade was a 14.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 completion of the sale, the insider 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 SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 16,430 shares of company stock worth $2,255,061. Insiders own 16.90% of the company’s stock.

American Financial Group Trading Down 1.7%

AFG stock opened at $142.55 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.49 and a quick ratio of 0.49. American Financial Group, Inc. has a 1-year low of $123.09 and a 1-year high of $150.02. The business has a 50 day simple moving average of $142.11 and a two-hundred day simple moving average of $134.86. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of 12.46 and a beta of 0.62.

American Financial Group (NYSE:AFG) last released its quarterly earnings data on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.50. American Financial Group had a net margin of 11.51% and a return on equity of 20.35%. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the business posted $2.14 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Research analysts anticipate that American Financial Group, Inc. will post 12.13 EPS for the current fiscal year.

American Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Wednesday, July 15th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, July 15th. American Financial Group’s dividend payout ratio (DPR) is presently 30.77%.

Analysts Set New Price Targets

A number of research firms have commented on AFG. Weiss Ratings upgraded shares of American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Piper Sandler increased their price objective on shares of American Financial Group from $140.00 to $156.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Wall Street Zen upgraded shares of American Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Wells Fargo & Company lifted their target price on shares of American Financial Group from $158.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Finally, Keefe, Bruyette & Woods upped their target price on shares of American Financial Group from $148.00 to $153.00 and gave the stock a “market perform” rating in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $156.00.

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.