Geode Capital Management LLC Raises Stock Position in American Financial Group, Inc. $AFG

Geode Capital Management LLC increased its holdings in shares of American Financial Group, Inc. (NYSE:AFG) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,732,557 shares of the insurance provider’s stock after purchasing an additional 29,731 shares during the period. Geode Capital Management LLC owned approximately 2.08% of American Financial Group worth $236,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Global Retirement Partners LLC raised its holdings in shares of American Financial Group by 904.8% during the fourth quarter. Global Retirement Partners LLC now owns 211 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 190 shares during the last quarter. Clearstead Advisors LLC raised its holdings in shares of American Financial Group by 87.7% during the fourth quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 121 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of American Financial Group by 165.0% during the third quarter. Smartleaf Asset Management LLC now owns 273 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 170 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of American Financial Group during the third quarter worth $44,000. Finally, Bessemer Group Inc. raised its holdings in shares of American Financial Group by 332.9% during the third quarter. Bessemer Group Inc. now owns 368 shares of the insurance provider’s stock worth $54,000 after purchasing an additional 283 shares during the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on AFG. Keefe, Bruyette & Woods raised their target price on shares of 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 raised their target price on shares of American Financial Group from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. Wells Fargo & Company raised their target price on shares of American Financial Group from $155.00 to $158.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. 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 research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $145.00.

American Financial Group Stock Up 0.5%

AFG stock opened at $128.97 on Wednesday. The firm has a market cap of $10.72 billion, a PE ratio of 12.26 and a beta of 0.64. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.48 and a current ratio of 0.48. The firm’s fifty day moving average is $131.24 and its 200 day moving average is $132.35. American Financial Group, Inc. has a one year low of $121.75 and a one year high of $150.02.

American Financial Group (NYSE:AFG) last released its quarterly earnings results on Thursday, April 30th. The insurance provider reported $2.47 EPS for the quarter, missing the consensus estimate of $2.54 by ($0.07). The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.70 billion. American Financial Group had a net margin of 10.76% and a return on equity of 19.50%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.81 EPS. On average, research analysts forecast that American Financial Group, Inc. will post 11.37 EPS for the current year.

American Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Wednesday, April 15th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.7%. The ex-dividend date was Wednesday, April 15th. American Financial Group’s dividend payout ratio (DPR) is currently 33.46%.

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.