Argent Capital Management LLC Purchases 676 Shares of American Financial Group, Inc. (NYSE:AFG)

Argent Capital Management LLC raised its position in American Financial Group, Inc. (NYSE:AFG) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,575 shares of the insurance provider’s stock after purchasing an additional 676 shares during the period. Argent Capital Management LLC’s holdings in American Financial Group were worth $3,846,000 at the end of the most recent reporting period.

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

American Financial Group Price Performance

AFG traded up $0.70 during midday trading on Thursday, hitting $132.72. The stock had a trading volume of 37,431 shares, compared to its average volume of 300,162. American Financial Group, Inc. has a 1 year low of $106.62 and a 1 year high of $138.81. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.46 and a current ratio of 0.46. The business has a fifty day moving average of $134.08 and a 200 day moving average of $129.68. The company has a market cap of $11.13 billion, a P/E ratio of 12.63 and a beta of 0.78.

American Financial Group (NYSE:AFG) last announced its quarterly earnings data on Tuesday, August 6th. The insurance provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.11. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.72 billion. American Financial Group had a net margin of 11.06% and a return on equity of 21.16%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.38 EPS. As a group, equities analysts forecast that American Financial Group, Inc. will post 10.99 earnings per share for the current fiscal year.

American Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Tuesday, October 15th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.41%. This is a positive change from American Financial Group’s previous quarterly dividend of $0.71. The ex-dividend date is Tuesday, October 15th. American Financial Group’s dividend payout ratio (DPR) is presently 30.62%.

Wall Street Analysts Forecast Growth

AFG has been the subject of a number of research reports. Citigroup cut shares of American Financial Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $144.00 to $137.00 in a research note on Friday, June 28th. BMO Capital Markets upped their target price on shares of American Financial Group from $132.00 to $135.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 8th.

American Financial Group Company Profile

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.