Man Group plc Makes New Investment in American Financial Group, Inc. $AFG

Man Group plc bought a new position in shares of American Financial Group, Inc. (NYSE:AFG) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 129,645 shares of the insurance provider’s stock, valued at approximately $18,143,000. Man Group plc owned approximately 0.16% of American Financial Group as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. BlackRock Inc. purchased a new position in American Financial Group during the second quarter worth approximately $1,079,329,000. Norges Bank purchased a new stake in shares of American Financial Group in the fourth quarter valued at approximately $114,661,000. Bank of New York Mellon Corp acquired a new position in shares of American Financial Group during the 2nd quarter worth approximately $102,590,000. Vestor Capital LLC lifted its position in shares of American Financial Group by 100,006.8% during the 4th quarter. Vestor Capital LLC now owns 600,641 shares of the insurance provider’s stock valued at $82,096,000 after buying an additional 600,041 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of American Financial Group by 337.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 431,144 shares of the insurance provider’s stock valued at $55,061,000 after buying an additional 332,517 shares in the last quarter. 64.37% of the stock is currently owned by institutional investors and hedge funds.

American Financial Group Stock Performance

Shares of NYSE:AFG opened at $142.55 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.49 and a quick ratio of 0.49. The business’s 50 day moving average price is $142.11 and its 200-day moving average price is $134.86. The firm has a market capitalization of $11.82 billion, a PE ratio of 12.46 and a beta of 0.62. American Financial Group, Inc. has a 1 year low of $123.09 and a 1 year high of $150.02.

American Financial Group (NYSE:AFG) last posted its quarterly earnings data on Tuesday, August 4th. The insurance provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.32 by $0.50. American Financial Group had a return on equity of 20.35% and a net margin of 11.51%.The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the company earned $2.14 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts expect that American Financial Group, Inc. will post 12.13 earnings per share for the current fiscal year.

American Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Wednesday, July 15th were issued a dividend of $0.88 per share. The ex-dividend date of this dividend 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 is presently 30.77%.

Insider Activity

In related news, SVP Michelle A. Gillis sold 2,247 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $139.00, for a total transaction of $312,333.00. Following the transaction, the senior vice president directly owned 13,135 shares in the company, valued at approximately $1,825,765. The trade was a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $135.05, for a total transaction of $1,535,518.50. Following the sale, the insider directly owned 584,098 shares of the company’s stock, valued at approximately $78,882,434.90. This represents a 1.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,430 shares of company stock worth $2,255,061 over the last three months. Insiders own 16.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AFG. Wells Fargo & Company boosted their price target on shares of American Financial Group from $158.00 to $173.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods increased their price objective on shares of American Financial Group from $148.00 to $153.00 and gave the company a “market perform” rating in a report on Tuesday, August 11th. Piper Sandler increased their price objective on shares of American Financial Group from $140.00 to $156.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Wall Street Zen upgraded shares of American Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings raised shares of American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $156.00.

American Financial Group 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.