Assenagon Asset Management S.A. Buys 90,523 Shares of American Financial Group, Inc. $AFG

Assenagon Asset Management S.A. raised its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 3,295.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 93,270 shares of the insurance provider’s stock after buying an additional 90,523 shares during the period. Assenagon Asset Management S.A.’s holdings in American Financial Group were worth $12,748,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. ProShare Advisors LLC grew its holdings in shares of American Financial Group by 8.0% in the third quarter. ProShare Advisors LLC now owns 278,279 shares of the insurance provider’s stock worth $40,551,000 after acquiring an additional 20,554 shares during the period. Allianz Asset Management GmbH increased its position in American Financial Group by 9.7% during the third quarter. Allianz Asset Management GmbH now owns 335,673 shares of the insurance provider’s stock valued at $48,914,000 after acquiring an additional 29,593 shares during the last quarter. Caxton Associates LLP bought a new position in American Financial Group in the second quarter valued at about $1,790,000. Dimensional Fund Advisors LP boosted its position in American Financial Group by 10.9% in 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 during the last quarter. Finally, American Century Companies Inc. boosted its position in American Financial Group by 23.0% in the second quarter. American Century Companies Inc. now owns 182,284 shares of the insurance provider’s stock worth $23,006,000 after purchasing an additional 34,027 shares during the last quarter. 64.37% of the stock is owned by institutional investors.

American Financial Group Price Performance

American Financial Group stock opened at $125.58 on Friday. American Financial Group, Inc. has a 52-week low of $114.73 and a 52-week high of $150.02. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.38. The firm’s fifty day moving average is $129.35 and its 200 day moving average is $134.60. The company has a market cap of $10.46 billion, a price-to-earnings ratio of 12.47 and a beta of 0.69.

American Financial Group (NYSE:AFG) last posted its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $3.65 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.47. The business had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.79 billion. American Financial Group had a net margin of 10.30% and a return on equity of 18.64%. The business’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.12 earnings per share. Sell-side analysts forecast that American Financial Group, Inc. will post 10.5 EPS for the current fiscal year.

American Financial Group Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Wednesday, February 25th. Investors of record on Monday, February 16th were issued 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 (DPR) is presently 34.96%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AFG shares. Keefe, Bruyette & Woods upped their price target on shares of American Financial Group from $134.00 to $140.00 and gave the company a “market perform” rating in a research report on Wednesday. Wells Fargo & Company dropped their price objective on shares of American Financial Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. Finally, Weiss Ratings raised shares of American Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 16th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $145.25.

Insider Buying and Selling

In other American Financial Group news, CFO Brian S. Hertzman sold 1,663 shares of the company’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $133.70, for a total transaction of $222,343.10. Following the completion of the sale, the chief financial officer owned 12,073 shares in the company, valued at $1,614,160.10. This represents a 12.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 17.40% of the stock is owned by company insiders.

About American Financial Group

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.