Pensionfund Sabic Makes New $1.27 Million Investment in American Financial Group, Inc. $AFG

Pensionfund Sabic purchased a new position in shares of American Financial Group, Inc. (NYSE:AFG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,300 shares of the insurance provider’s stock, valued at approximately $1,271,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada grew its holdings in shares of American Financial Group by 11.1% in the first quarter. Royal Bank of Canada now owns 75,421 shares of the insurance provider’s stock valued at $9,905,000 after purchasing an additional 7,554 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in American Financial Group during the first quarter worth about $2,330,000. Jones Financial Companies Lllp raised its stake in American Financial Group by 145.8% during the first quarter. Jones Financial Companies Lllp now owns 1,278 shares of the insurance provider’s stock worth $168,000 after purchasing an additional 758 shares during the period. Swiss National Bank boosted its holdings in American Financial Group by 0.7% in the 2nd quarter. Swiss National Bank now owns 202,600 shares of the insurance provider’s stock valued at $25,570,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Entropy Technologies LP acquired a new position in American Financial Group in the 2nd quarter valued at about $418,000. Institutional investors and hedge funds own 64.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of American Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 16th. Wells Fargo & Company decreased their price objective on American Financial Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, American Financial Group currently has an average rating of “Hold” and an average target price of $141.25.

Insider Activity at American Financial Group

In other news, CFO Brian S. Hertzman sold 1,663 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $133.70, for a total value of $222,343.10. Following the completion of the transaction, the chief financial officer owned 12,073 shares of the company’s stock, valued at approximately $1,614,160.10. This trade represents a 12.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 17.40% of the company’s stock.

American Financial Group Price Performance

AFG stock opened at $127.72 on Wednesday. The business’s fifty day moving average price is $129.61 and its 200 day moving average price is $134.78. American Financial Group, Inc. has a 12-month low of $114.73 and a 12-month high of $150.02. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $10.64 billion, a PE ratio of 12.68 and a beta of 0.69.

American Financial Group (NYSE:AFG) last announced its earnings results on Wednesday, February 4th. The insurance provider reported $3.65 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.47. The company had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.79 billion. American Financial Group had a return on equity of 18.64% and a net margin of 10.30%.American Financial Group’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period last year, the business posted $3.12 EPS. On average, sell-side analysts anticipate that American Financial Group, Inc. will post 10.5 EPS for the current year.

American Financial Group Dividend Announcement

The firm also recently declared a special dividend, which was paid on Wednesday, February 25th. Stockholders of record on Monday, February 16th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Friday, February 13th. American Financial Group’s dividend payout ratio is currently 34.96%.

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.