Intech Investment Management LLC Boosts Position in American Financial Group, Inc. $AFG

Intech Investment Management LLC increased its stake in American Financial Group, Inc. (NYSE:AFG) by 42.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,052 shares of the insurance provider’s stock after buying an additional 4,786 shares during the period. Intech Investment Management LLC’s holdings in American Financial Group were worth $2,194,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC increased its stake in American Financial Group by 904.8% in 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 during the period. Clearstead Advisors LLC increased its stake in American Financial Group by 87.7% in the 4th quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider’s stock worth $35,000 after buying an additional 121 shares during the period. Smartleaf Asset Management LLC increased its stake in American Financial Group by 165.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 273 shares of the insurance provider’s stock worth $39,000 after buying an additional 170 shares during the period. Aster Capital Management DIFC Ltd bought a new position in American Financial Group during the 3rd quarter worth about $44,000. Finally, Bessemer Group Inc. grew its holdings in American Financial Group by 332.9% during the 3rd quarter. Bessemer Group Inc. now owns 368 shares of the insurance provider’s stock worth $54,000 after acquiring an additional 283 shares in the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on AFG. Weiss Ratings upgraded shares of American Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 16th. Keefe, Bruyette & Woods increased their target price on shares of American Financial Group from $134.00 to $140.00 and gave the stock a “market perform” rating in a report on Wednesday, March 25th. Wells Fargo & Company increased their target price on shares of American Financial Group from $155.00 to $158.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Piper Sandler increased their target price on shares of American Financial Group from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $145.00.

American Financial Group Stock Up 0.2%

Shares of American Financial Group stock opened at $129.02 on Thursday. The firm’s 50 day moving average price is $131.37 and its 200-day moving average price is $132.16. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.39. American Financial Group, Inc. has a 52-week low of $121.75 and a 52-week high of $150.02. The company has a market cap of $10.72 billion, a P/E ratio of 12.26 and a beta of 0.64.

American Financial Group (NYSE:AFG) last issued its quarterly earnings data on Thursday, April 30th. The insurance provider reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.07). American Financial Group had a return on equity of 19.50% and a net margin of 10.76%.The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the firm earned $1.81 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. On average, sell-side analysts predict that American Financial Group, Inc. will post 11.37 EPS for the current fiscal year.

American Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Wednesday, April 15th were given a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.7%. American Financial Group’s payout ratio is presently 33.46%.

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.