Sumitomo Mitsui Trust Group Inc. Has $19.90 Million Holdings in American Financial Group, Inc. (NYSE:AFG)

Sumitomo Mitsui Trust Group Inc. raised its position in American Financial Group, Inc. (NYSE:AFG) by 3.8% during the third quarter, Holdings Channel reports. The institutional investor owned 147,860 shares of the insurance provider’s stock after buying an additional 5,352 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in American Financial Group were worth $19,902,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Innealta Capital LLC acquired a new position in American Financial Group during the second quarter worth approximately $30,000. Headlands Technologies LLC acquired a new stake in American Financial Group during the 2nd quarter worth about $38,000. Covestor Ltd grew its stake in shares of American Financial Group by 402.3% in the 1st quarter. Covestor Ltd now owns 432 shares of the insurance provider’s stock valued at $59,000 after buying an additional 346 shares during the period. Blue Trust Inc. lifted its position in shares of American Financial Group by 44.3% during the 2nd quarter. Blue Trust Inc. now owns 433 shares of the insurance provider’s stock worth $59,000 after buying an additional 133 shares in the last quarter. Finally, Abich Financial Wealth Management LLC increased its stake in shares of American Financial Group by 10,460.0% during the 1st quarter. Abich Financial Wealth Management LLC now owns 528 shares of the insurance provider’s stock worth $72,000 after purchasing an additional 523 shares during the last quarter. 64.37% of the stock is currently owned by institutional investors.

American Financial Group Stock Performance

NYSE AFG opened at $137.82 on Monday. The stock has a 50-day moving average of $134.93 and a two-hundred day moving average of $130.36. The company has a market cap of $11.57 billion, a P/E ratio of 12.92 and a beta of 0.79. American Financial Group, Inc. has a 1-year low of $108.39 and a 1-year high of $144.81. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.53 and a quick ratio of 0.46.

American Financial Group (NYSE:AFG) last released its earnings results on Tuesday, November 5th. The insurance provider reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.20). American Financial Group had a return on equity of 19.97% and a net margin of 10.84%. The business had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the company posted $2.45 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, analysts anticipate that American Financial Group, Inc. will post 10.88 EPS for the current year.

American Financial Group Increases Dividend

The company also recently disclosed a None dividend, which will be paid on Tuesday, November 26th. Investors of record on Friday, November 15th will be given a dividend of $4.00 per share. This is a boost from American Financial Group’s previous None dividend of $1.00. The ex-dividend date of this dividend is Friday, November 15th. American Financial Group’s dividend payout ratio (DPR) is presently 29.99%.

Analysts Set New Price Targets

A number of research analysts have recently commented on AFG shares. BMO Capital Markets boosted their price target on shares of American Financial Group from $135.00 to $143.00 and gave the company a “market perform” rating in a research report on Friday. Piper Sandler increased their price objective on shares of American Financial Group from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th.

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.