Citigroup Inc. Boosts Stock Position in American Financial Group, Inc. (NYSE:AFG)

Citigroup Inc. boosted its position in shares of American Financial Group, Inc. (NYSE:AFG) by 17.7% in the third quarter, HoldingsChannel.com reports. The fund owned 84,910 shares of the insurance provider’s stock after purchasing an additional 12,749 shares during the period. Citigroup Inc.’s holdings in American Financial Group were worth $11,429,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of American Financial Group by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 836,619 shares of the insurance provider’s stock valued at $102,921,000 after buying an additional 7,797 shares during the period. Johnson Investment Counsel Inc. lifted its stake in American Financial Group by 0.4% in the second quarter. Johnson Investment Counsel Inc. now owns 576,174 shares of the insurance provider’s stock valued at $70,881,000 after buying an additional 2,389 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of American Financial Group by 8.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 503,115 shares of the insurance provider’s stock valued at $67,719,000 after acquiring an additional 39,623 shares during the period. EULAV Asset Management raised its position in American Financial Group by 9.4% in the 3rd quarter. EULAV Asset Management now owns 498,721 shares of the insurance provider’s stock valued at $67,128,000 after purchasing an additional 42,902 shares during the last quarter. Finally, Bahl & Gaynor Inc. boosted its stake in shares of American Financial Group by 8.6% during the second quarter. Bahl & Gaynor Inc. now owns 492,021 shares of the insurance provider’s stock worth $60,528,000 after buying an additional 38,937 shares during the period. Hedge funds and other institutional investors own 64.37% of the company’s stock.

American Financial Group Price Performance

Shares of NYSE:AFG opened at $147.93 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $136.64 and a 200 day moving average price of $131.30. American Financial Group, Inc. has a 52 week low of $110.53 and a 52 week high of $150.19. The company has a market cap of $12.42 billion, a P/E ratio of 13.86 and a beta of 0.79.

American Financial Group (NYSE:AFG) last posted its quarterly earnings results on Tuesday, November 5th. The insurance provider reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). The business had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.80 billion. American Financial Group had a net margin of 10.84% and a return on equity of 19.97%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.45 earnings per share. Research analysts predict that American Financial Group, Inc. will post 10.73 earnings per share for the current year.

American Financial Group Increases Dividend

The business also recently declared a None dividend, which was paid on Tuesday, November 26th. Stockholders of record on Friday, November 15th were paid a dividend of $4.00 per share. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from American Financial Group’s previous None dividend of $1.00. American Financial Group’s dividend payout ratio is 29.99%.

Analysts Set New Price Targets

AFG has been the topic of several recent research reports. BMO Capital Markets boosted their price target on American Financial Group from $135.00 to $143.00 and gave the company a “market perform” rating in a research report on Friday, November 15th. Piper Sandler boosted their target price on American Financial Group from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th.

American Financial Group Company Profile

American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. The company offers property and transportation insurance products, such as physical damage and liability coverage for buses and trucks, inland and ocean marine, agricultural-related products, and other commercial property and specialty transportation coverages; specialty casualty insurance, including primarily excess and surplus, executive and professional liability, general liability, umbrella and excess liability, and specialty coverage in targeted markets, as well as customized programs for small to mid-sized businesses and workers’ compensation insurance; and specialty financial insurance products comprising risk management insurance programs for lending and leasing institutions, fidelity and surety products, and trade credit insurance.