Rakuten Investment Management Inc. Takes $9.43 Million Position in American Financial Group, Inc. $AFG

Rakuten Investment Management Inc. purchased a new position in shares of American Financial Group, Inc. (NYSE:AFG) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 64,728 shares of the insurance provider’s stock, valued at approximately $9,432,000. Rakuten Investment Management Inc. owned about 0.08% of American Financial Group at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. raised its holdings in American Financial Group by 3.2% in the second quarter. Advisors Asset Management Inc. now owns 2,640 shares of the insurance provider’s stock valued at $333,000 after buying an additional 83 shares during the period. Diversified Trust Co boosted its position in American Financial Group by 4.6% in the 2nd quarter. Diversified Trust Co now owns 2,356 shares of the insurance provider’s stock valued at $297,000 after buying an additional 103 shares during the last quarter. UMB Bank n.a. grew its stake in shares of American Financial Group by 15.6% during the second quarter. UMB Bank n.a. now owns 776 shares of the insurance provider’s stock valued at $98,000 after acquiring an additional 105 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of American Financial Group by 1.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,405 shares of the insurance provider’s stock worth $1,087,000 after acquiring an additional 115 shares during the last quarter. Finally, CX Institutional lifted its stake in shares of American Financial Group by 4.5% in the second quarter. CX Institutional now owns 2,839 shares of the insurance provider’s stock worth $358,000 after acquiring an additional 122 shares in the last quarter. 64.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Brian S. Hertzman sold 1,777 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $142.51, for a total transaction of $253,240.27. Following the completion of the transaction, the chief financial officer owned 11,300 shares in the company, valued at $1,610,363. The trade was a 13.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 17.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wells Fargo & Company initiated coverage on American Financial Group in a report on Thursday, January 15th. They set an “overweight” rating and a $165.00 price objective on the stock. Weiss Ratings downgraded shares of American Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Piper Sandler upped their price target on shares of American Financial Group from $130.00 to $139.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $142.00 price objective on shares of American Financial Group in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $142.50.

American Financial Group Price Performance

Shares of NYSE AFG opened at $131.32 on Thursday. 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 capitalization of $10.95 billion, a price-to-earnings ratio of 13.79 and a beta of 0.70. American Financial Group, Inc. has a twelve month low of $114.73 and a twelve month high of $150.02. The business has a 50 day simple moving average of $135.54 and a 200-day simple moving average of $134.91.

American Financial Group (NYSE:AFG) last released its earnings results on Wednesday, November 5th. The insurance provider reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.34. American Financial Group had a net margin of 9.66% and a return on equity of 18.05%. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the previous year, the firm earned $2.31 earnings per share. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, equities research analysts expect that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 27th. Stockholders of record on Thursday, January 15th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Thursday, January 15th. American Financial Group’s dividend payout ratio is presently 36.97%.

American Financial Group Company 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.