Commerce Bank Acquires New Position in American Financial Group, Inc. $AFG

Commerce Bank acquired a new stake in American Financial Group, Inc. (NYSE:AFG) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 6,418 shares of the insurance provider’s stock, valued at approximately $898,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AFG. Cassaday & Co Wealth Management LLC acquired a new position in shares of American Financial Group in the first quarter worth $26,000. Global Retirement Partners LLC raised its holdings in shares of American Financial Group by 904.8% during the fourth quarter. Global Retirement Partners LLC now owns 211 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 190 shares in the last quarter. Clearstead Advisors LLC boosted its position in American Financial Group by 87.7% during the fourth quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 121 shares during the last quarter. Keating Financial Advisory Services Inc. acquired a new stake in American Financial Group during the second quarter valued at $42,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in American Financial Group in the second quarter valued at about $46,000. Hedge funds and other institutional investors own 64.37% of the company’s stock.

Insider Transactions at American Financial Group

In related news, VP Mark A. Weiss sold 2,813 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $144.76, for a total value of $407,209.88. Following the transaction, the vice president directly owned 6,648 shares of the company’s stock, valued at approximately $962,364.48. This trade represents a 29.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider owned 584,098 shares of the company’s stock, valued at approximately $78,882,434.90. This trade represents a 1.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 16,430 shares of company stock worth $2,255,061. 16.90% of the stock is owned by corporate insiders.

American Financial Group Stock Up 0.9%

American Financial Group stock opened at $144.95 on Thursday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.38. American Financial Group, Inc. has a 1-year low of $123.09 and a 1-year high of $150.02. The firm’s fifty day simple moving average is $141.92 and its 200-day simple moving average is $134.78. The company has a market capitalization of $12.02 billion, a P/E ratio of 12.67 and a beta of 0.62.

American Financial Group (NYSE:AFG) last issued its quarterly earnings data on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.50. The firm 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%. American Financial Group’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.14 earnings per share. Sell-side analysts forecast that American Financial Group, Inc. will post 12.13 earnings per share for the current fiscal year.

American Financial Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.