New York Life Investment Management LLC Invests $908,000 in American Financial Group, Inc. $AFG

New York Life Investment Management LLC acquired a new position in shares of American Financial Group, Inc. (NYSE:AFG) in the 4th quarter, Holdings Channel reports. The fund acquired 6,644 shares of the insurance provider’s stock, valued at approximately $908,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Victory Capital Management Inc. grew its holdings in shares of American Financial Group by 12.9% during the third quarter. Victory Capital Management Inc. now owns 2,963,942 shares of the insurance provider’s stock worth $431,906,000 after purchasing an additional 337,573 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of American Financial Group by 10.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,127,518 shares of the insurance provider’s stock worth $164,293,000 after purchasing an additional 110,872 shares in the last quarter. Northern Trust Corp grew its holdings in shares of American Financial Group by 33.2% during the third quarter. Northern Trust Corp now owns 1,026,783 shares of the insurance provider’s stock worth $149,623,000 after purchasing an additional 255,693 shares in the last quarter. M&T Bank Corp grew its holdings in shares of American Financial Group by 20,131.5% during the fourth quarter. M&T Bank Corp now owns 637,090 shares of the insurance provider’s stock worth $87,077,000 after purchasing an additional 633,941 shares in the last quarter. Finally, Woodline Partners LP grew its holdings in shares of American Financial Group by 58.4% during the third quarter. Woodline Partners LP now owns 621,623 shares of the insurance provider’s stock worth $90,583,000 after purchasing an additional 229,140 shares in the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.

American Financial Group Stock Performance

NYSE:AFG opened at $136.29 on Wednesday. The business has a 50 day moving average of $130.09 and a 200 day moving average of $132.50. The company has a market capitalization of $11.32 billion, a price-to-earnings ratio of 12.96 and a beta of 0.65. American Financial Group, Inc. has a 1-year low of $120.52 and a 1-year high of $150.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.48 and a quick ratio of 0.48.

American Financial Group (NYSE:AFG) last released its earnings results on Thursday, April 30th. The insurance provider reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.07). The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.70 billion. American Financial Group had a return on equity of 19.50% and a net margin of 10.76%.The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.81 EPS. On average, sell-side analysts predict that American Financial Group, Inc. will post 11.21 earnings per share for the current fiscal year.

American Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Wednesday, April 15th were given a $0.88 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $3.52 annualized dividend and a yield of 2.6%. American Financial Group’s payout ratio is presently 33.46%.

Insiders Place Their Bets

In other American Financial Group news, CFO Brian S. Hertzman sold 1,663 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $133.70, for a total value of $222,343.10. Following the completion of the sale, the chief financial officer owned 12,073 shares in the company, valued at approximately $1,614,160.10. The trade was a 12.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 16.90% of the company’s stock.

Analyst Upgrades and Downgrades

AFG has been the subject of several recent analyst reports. Weiss Ratings raised American Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 16th. Keefe, Bruyette & Woods boosted their price objective on American Financial Group from $134.00 to $140.00 and gave the stock a “market perform” rating in a report on Wednesday, March 25th. Piper Sandler boosted their price objective on American Financial Group from $129.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, Wells Fargo & Company boosted their target price on American Financial Group from $155.00 to $158.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, American Financial Group currently has an average rating of “Hold” and a consensus target price of $143.75.

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.