MBL Wealth LLC Makes New $501,000 Investment in American Financial Group, Inc. $AFG

MBL Wealth LLC acquired a new stake in American Financial Group, Inc. (NYSE:AFG) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 3,664 shares of the insurance provider’s stock, valued at approximately $501,000.

Several other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in American Financial Group during the second quarter worth about $1,079,329,000. Dimensional Fund Advisors LP boosted its position in shares of American Financial Group by 19.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,506,510 shares of the insurance provider’s stock valued at $192,395,000 after purchasing an additional 240,509 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of American Financial Group in the 2nd quarter worth approximately $102,590,000. Boston Trust Walden Corp grew its stake in shares of American Financial Group by 11.9% in the 1st quarter. Boston Trust Walden Corp now owns 525,691 shares of the insurance provider’s stock worth $67,136,000 after purchasing an additional 56,046 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of American Financial Group by 337.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 431,144 shares of the insurance provider’s stock worth $55,061,000 after purchasing an additional 332,517 shares during the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on AFG. Piper Sandler boosted their price objective on American Financial Group from $140.00 to $156.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Wells Fargo & Company decreased their price objective on shares of American Financial Group from $175.00 to $166.00 and set an “overweight” rating for the company in a report on Monday, October 12th. Weiss Ratings raised American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Keefe, Bruyette & Woods dropped their target price on shares of American Financial Group from $153.00 to $147.00 and set a “market perform” rating on the stock in a report on Monday, October 12th. Finally, Wall Street Zen raised American Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, American Financial Group currently has an average rating of “Hold” and an average price target of $152.75.

American Financial Group Stock Down 1.8%

NYSE AFG opened at $150.63 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.49 and a current ratio of 0.49. American Financial Group, Inc. has a 52 week low of $123.09 and a 52 week high of $154.99. The stock has a market capitalization of $12.49 billion, a P/E ratio of 13.17 and a beta of 0.59. The stock has a fifty day moving average of $143.05 and a 200-day moving average of $138.70.

American Financial Group (NYSE:AFG) last released its earnings results on Tuesday, August 4th. The insurance provider reported $2.82 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the business earned $2.14 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts forecast that American Financial Group, Inc. will post 12.29 EPS for the current year.

American Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Thursday, October 15th were issued a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 2.6%. This is a boost from American Financial Group’s previous quarterly dividend of $0.88. The ex-dividend date was Thursday, October 15th. American Financial Group’s dividend payout ratio is currently 33.92%.

Insiders Place Their Bets

In other American Financial Group 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 completion of the transaction, the vice president directly owned 6,648 shares in the company, valued at $962,364.48. This trade represents a 29.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian S. Hertzman sold 950 shares of the business’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $142.87, for a total transaction of $135,726.50. Following the transaction, the chief financial officer owned 11,123 shares in the company, valued at approximately $1,589,143.01. The trade was a 7.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 16.90% of the stock is currently owned by corporate insiders.

About American Financial Group

American Financial Group, Inc (NYSE:AFG) is an insurance holding company headquartered in Cincinnati, Ohio. Through its Great American Insurance Group operations, the company primarily provides property and casualty insurance, with an emphasis on specialty commercial products and markets.

Its insurance offerings serve businesses, organizations and individuals across a range of industries. Product lines have included commercial property and liability coverage, workers’ compensation, transportation, agriculture and crop insurance, marine and other specialty risks.