Empowered Funds LLC Makes New $2.21 Million Investment in American Financial Group, Inc. $AFG

Empowered Funds LLC purchased a new position in shares of American Financial Group, Inc. (NYSE:AFG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 15,812 shares of the insurance provider’s stock, valued at approximately $2,213,000.

Several other institutional investors have also modified their holdings of the business. BlackRock Inc. bought a new stake in American Financial Group during the 2nd quarter worth approximately $1,079,329,000. Norges Bank bought a new position in American Financial Group in the fourth quarter valued at approximately $114,661,000. Bank of New York Mellon Corp bought a new position in American Financial Group in the second quarter valued at approximately $102,590,000. Vestor Capital LLC boosted its holdings in shares of American Financial Group by 100,006.8% in the fourth quarter. Vestor Capital LLC now owns 600,641 shares of the insurance provider’s stock valued at $82,096,000 after buying an additional 600,041 shares during the period. Finally, Bank of America Corp DE acquired a new position in shares of American Financial Group in the second quarter valued at approximately $53,939,000. Institutional investors own 64.37% of the company’s stock.

Analyst Ratings Changes

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

American Financial Group Trading Up 0.2%

NYSE:AFG opened at $142.72 on Thursday. The company has a market cap of $11.83 billion, a P/E ratio of 12.48 and a beta of 0.60. American Financial Group, Inc. has a twelve month low of $123.09 and a twelve month high of $150.02. The business has a 50 day moving average price of $142.68 and a two-hundred day moving average price of $135.24. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.38.

American Financial Group (NYSE:AFG) last posted its quarterly earnings data on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.50. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.85 billion. American Financial Group had a net margin of 11.51% and a return on equity of 20.35%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $2.14 earnings per share. As a group, analysts expect that American Financial Group, Inc. will post 12.13 EPS for the current fiscal year.

American Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Wednesday, July 15th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, July 15th. American Financial Group’s payout ratio is presently 30.77%.

Insider Buying and Selling at American Financial Group

In other American Financial Group news, SVP Michelle A. Gillis sold 2,247 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were 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. The trade was a 14.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Mark A. Weiss sold 2,813 shares of American Financial Group stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $144.76, for a total value of $407,209.88. Following the completion of the sale, the vice president directly owned 6,648 shares in the company, valued at approximately $962,364.48. This represents a 29.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 17,380 shares of company stock valued at $2,390,788. Corporate insiders own 16.90% of the company’s stock.

American Financial Group 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.