Y Intercept Hong Kong Ltd Grows Position in American Financial Group, Inc. $AFG

Y Intercept Hong Kong Ltd raised its position in American Financial Group, Inc. (NYSE:AFG) by 281.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,243 shares of the insurance provider’s stock after purchasing an additional 20,832 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in American Financial Group were worth $3,607,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Global Retirement Partners LLC grew its holdings in shares of American Financial Group by 904.8% in the fourth quarter. Global Retirement Partners LLC now owns 211 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 190 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in shares of 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. Los Angeles Capital Management LLC bought a new position in shares of American Financial Group during the 4th quarter worth $45,000. CIBC Private Wealth Group LLC raised its holdings in shares of American Financial Group by 86.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 376 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 174 shares in the last quarter. Finally, Quarry LP bought a new position in shares of American Financial Group during the fourth quarter valued at approximately $52,000. 64.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at American Financial Group

In related news, SVP Michelle A. Gillis sold 2,247 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $139.00, for a total transaction of $312,333.00. Following the sale, the senior vice president directly owned 13,135 shares of the company’s stock, valued at $1,825,765. This trade represents a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 shares were sold at an average price of $135.05, for a total value of $1,535,518.50. Following the completion of the transaction, the insider directly owned 584,098 shares of the company’s stock, valued at $78,882,434.90. The trade was a 1.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 16.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on AFG shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American Financial Group in a research report on Thursday, June 11th. Wells Fargo & Company increased their price target on American Financial Group from $155.00 to $158.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Piper Sandler upped their price objective on shares of American Financial Group from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of American Financial Group from $134.00 to $140.00 and gave the company a “market perform” rating in a research report on Wednesday, March 25th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $145.00.

American Financial Group Stock Performance

NYSE AFG traded up $1.90 during trading hours on Tuesday, reaching $143.93. The stock had a trading volume of 70,548 shares, compared to its average volume of 578,740. American Financial Group, Inc. has a 52-week low of $122.11 and a 52-week high of $150.02. The stock has a fifty day moving average of $134.14 and a 200 day moving average of $132.12. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.48 and a current ratio of 0.48. The stock has a market cap of $11.96 billion, a P/E ratio of 13.68 and a beta of 0.62.

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

American Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, July 15th. American Financial Group’s dividend payout ratio (DPR) is currently 33.46%.

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.