Handelsbanken Fonder AB Acquires 3,700 Shares of American Financial Group, Inc. (NYSE:AFG)

Handelsbanken Fonder AB lifted its holdings in American Financial Group, Inc. (NYSE:AFG) by 21.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,300 shares of the insurance provider’s stock after buying an additional 3,700 shares during the quarter. Handelsbanken Fonder AB’s holdings in American Financial Group were worth $2,798,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. SG Americas Securities LLC increased its stake in American Financial Group by 6,414.6% in the first quarter. SG Americas Securities LLC now owns 129,967 shares of the insurance provider’s stock worth $17,070,000 after purchasing an additional 127,972 shares during the period. Pallas Capital Advisors LLC bought a new position in shares of American Financial Group in the first quarter worth about $216,000. Farther Finance Advisors LLC increased its stake in American Financial Group by 19.2% in the 1st quarter. Farther Finance Advisors LLC now owns 4,453 shares of the insurance provider’s stock worth $588,000 after buying an additional 718 shares during the period. Park Avenue Securities LLC purchased a new position in American Financial Group in the 1st quarter worth about $235,000. Finally, UMB Bank n.a. increased its stake in American Financial Group by 97.4% in the 1st quarter. UMB Bank n.a. now owns 671 shares of the insurance provider’s stock worth $88,000 after buying an additional 331 shares during the period. 64.37% of the stock is owned by institutional investors.

American Financial Group Trading Down 1.3%

AFG stock opened at $123.70 on Friday. The company has a market capitalization of $10.35 billion, a PE ratio of 11.70 and a beta of 0.73. American Financial Group, Inc. has a 12 month low of $114.73 and a 12 month high of $150.19. The firm’s 50-day moving average is $125.12 and its 200 day moving average is $129.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.53 and a quick ratio of 0.53.

American Financial Group (NYSE:AFG) last posted its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $1.81 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.36). The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.74 billion. American Financial Group had a return on equity of 20.30% and a net margin of 10.66%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.76 EPS. On average, research analysts anticipate that American Financial Group, Inc. will post 10.5 EPS for the current year.

American Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Tuesday, April 15th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.59%. The ex-dividend date was Tuesday, April 15th. American Financial Group’s payout ratio is 33.61%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reduced their price target on shares of American Financial Group from $126.00 to $125.00 and set a “market perform” rating on the stock in a research note on Friday, May 9th.

About American Financial Group

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.