Freestone Grove Partners LP Takes Position in American Financial Group, Inc. $AFG

Freestone Grove Partners LP bought a new stake in 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 fund bought 103,013 shares of the insurance provider’s stock, valued at approximately $14,416,000. Freestone Grove Partners LP owned about 0.12% of American Financial Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Royal Bank of Canada increased its position in shares of American Financial Group by 11.1% during the 1st quarter. Royal Bank of Canada now owns 75,421 shares of the insurance provider’s stock worth $9,905,000 after purchasing an additional 7,554 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of American Financial Group in the first quarter valued at $2,330,000. Jones Financial Companies Lllp grew its stake in shares of American Financial Group by 145.8% in the first quarter. Jones Financial Companies Lllp now owns 1,278 shares of the insurance provider’s stock valued at $168,000 after buying an additional 758 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in American Financial Group by 144.8% during the second quarter. EverSource Wealth Advisors LLC now owns 793 shares of the insurance provider’s stock worth $100,000 after buying an additional 469 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in American Financial Group by 62.4% during the second quarter. Cerity Partners LLC now owns 2,941 shares of the insurance provider’s stock worth $371,000 after buying an additional 1,130 shares during the last quarter. 64.37% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at American Financial Group

In other American Financial Group news, insider David Lawrence Thompson, Jr. sold 11,370 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $135.05, for a total value of $1,535,518.50. Following the transaction, the insider directly owned 584,098 shares of the company’s stock, valued at $78,882,434.90. This represents a 1.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Mark A. Weiss sold 2,813 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $144.76, for a total transaction of $407,209.88. Following the completion of the transaction, the vice president owned 6,648 shares in the company, valued at $962,364.48. This trade represents a 29.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 16,430 shares of company stock worth $2,255,061. Company insiders own 16.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wall Street Zen upgraded shares of American Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Wells Fargo & Company upped their target price on shares of American Financial Group from $158.00 to $173.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Piper Sandler raised their target price on shares of American Financial Group from $140.00 to $156.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. 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 boosted their price target on American Financial Group from $148.00 to $153.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $156.00.

American Financial Group Price Performance

NYSE:AFG opened at $142.55 on Friday. The company has a market cap of $11.82 billion, a P/E ratio of 12.46 and a beta of 0.62. The firm’s fifty day moving average price is $142.11 and its two-hundred day moving average price is $134.86. American Financial Group, Inc. has a one year low of $123.09 and a one year high of $150.02. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.49 and a quick ratio of 0.49.

American Financial Group (NYSE:AFG) last announced its earnings results on Tuesday, August 4th. The insurance provider reported $2.82 EPS for the quarter, topping the consensus estimate of $2.32 by $0.50. The business had revenue of $2.03 billion during 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%. American Financial Group’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.14 EPS. Equities analysts expect that American Financial Group, Inc. will post 12.13 earnings per share for the current year.

American Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Wednesday, July 15th were paid a dividend of $0.88 per share. The ex-dividend date was Wednesday, July 15th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. American Financial Group’s dividend payout ratio (DPR) is 30.77%.

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.