Corient Private Wealth LP Makes New Investment in American Financial Group, Inc. $AFG

Corient Private Wealth LP bought a new stake in American Financial Group, Inc. (NYSE:AFG) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 26,616 shares of the insurance provider’s stock, valued at approximately $3,725,000.

A number of other institutional investors also recently made changes to their positions in the business. Louisiana State Employees Retirement System bought a new stake in shares of American Financial Group in the first quarter worth $2,567,000. First Trust Advisors LP raised its holdings in American Financial Group by 433.2% in the first quarter. First Trust Advisors LP now owns 316,974 shares of the insurance provider’s stock valued at $40,481,000 after acquiring an additional 257,522 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in American Financial Group by 281.1% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 28,243 shares of the insurance provider’s stock valued at $3,607,000 after acquiring an additional 20,832 shares during the last quarter. Bank of Nova Scotia bought a new position in American Financial Group during the 2nd quarter valued at $6,760,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in American Financial Group by 377.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 49,681 shares of the insurance provider’s stock worth $6,790,000 after acquiring an additional 39,279 shares in the last quarter. 64.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity at American Financial Group

In related news, SVP Michelle A. Gillis sold 2,247 shares of the 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 sale, the senior vice president owned 13,135 shares in the company, valued at $1,825,765. This represents a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mark A. Weiss sold 2,813 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was 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 directly owned 6,648 shares in the company, valued at $962,364.48. This represents a 29.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,430 shares of company stock valued at $2,255,061 in the last quarter. Insiders own 16.90% of the company’s stock.

Analysts Set New Price Targets

AFG has been the subject of several research analyst reports. Piper Sandler boosted their target price on shares of American Financial Group from $140.00 to $156.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Weiss Ratings raised shares of American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Keefe, Bruyette & Woods lifted their price target on American Financial Group from $148.00 to $153.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 11th. Wall Street Zen raised American Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Wells Fargo & Company upped their price objective on American Financial Group from $158.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $156.00.

American Financial Group Stock Performance

American Financial Group stock opened at $142.00 on Wednesday. The company has a market cap of $11.77 billion, a PE ratio of 12.41 and a beta of 0.60. The company has a fifty day moving average price of $142.60 and a two-hundred day moving average price of $135.14. 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, Inc. has a 12 month low of $123.09 and a 12 month high of $150.02.

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

American Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Wednesday, July 15th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Wednesday, July 15th. American Financial Group’s dividend payout ratio is currently 30.77%.

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.