MCF Advisors LLC Grows Stock Holdings in American Financial Group, Inc. (NYSE:AFG)

MCF Advisors LLC lifted its holdings in American Financial Group, Inc. (NYSE:AFG) by 5,862.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,114 shares of the insurance provider’s stock after acquiring an additional 4,045 shares during the period. MCF Advisors LLC’s holdings in American Financial Group were worth $561,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in American Financial Group by 47.0% during the third quarter. Envestnet Asset Management Inc. now owns 37,663 shares of the insurance provider’s stock valued at $4,206,000 after acquiring an additional 12,049 shares during the last quarter. Stifel Financial Corp grew its holdings in American Financial Group by 7.3% during the 3rd quarter. Stifel Financial Corp now owns 45,660 shares of the insurance provider’s stock valued at $5,099,000 after purchasing an additional 3,113 shares during the last quarter. Northern Trust Corp raised its position in American Financial Group by 4.0% in the 3rd quarter. Northern Trust Corp now owns 635,387 shares of the insurance provider’s stock worth $70,954,000 after purchasing an additional 24,630 shares during the period. Natixis Advisors L.P. lifted its stake in American Financial Group by 3.0% in the third quarter. Natixis Advisors L.P. now owns 15,353 shares of the insurance provider’s stock worth $1,714,000 after purchasing an additional 447 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of American Financial Group during the third quarter valued at approximately $314,000. Hedge funds and other institutional investors own 64.37% of the company’s stock.

American Financial Group Trading Down 1.9 %

Shares of American Financial Group stock traded down $2.43 on Friday, hitting $123.02. 647,454 shares of the company traded hands, compared to its average volume of 235,084. The stock’s 50 day moving average price is $128.25 and its 200-day moving average price is $125.86. The company has a market cap of $10.32 billion, a PE ratio of 11.77 and a beta of 0.79. American Financial Group, Inc. has a 52 week low of $105.22 and a 52 week high of $137.71. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.35.

American Financial Group (NYSE:AFG) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.70 by $0.06. American Financial Group had a return on equity of 21.34% and a net margin of 11.03%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the company earned $2.89 EPS. Equities research analysts predict that American Financial Group, Inc. will post 10.94 EPS for the current year.

American Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.31%. American Financial Group’s dividend payout ratio is presently 27.18%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AFG shares. Piper Sandler increased their price target on American Financial Group from $129.00 to $135.00 and gave the stock a “neutral” rating in a report on Monday, May 6th. Citigroup lowered American Financial Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $144.00 to $137.00 in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $131.75.

Insiders Place Their Bets

In related news, Director Amy Y. Murray purchased 1,200 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $125.17 per share, for a total transaction of $150,204.00. Following the acquisition, the director now owns 1,200 shares of the company’s stock, valued at approximately $150,204. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 14.50% of the stock is owned by company insiders.

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.