Fifth Third Bancorp Acquires 15,663 Shares of American Financial Group, Inc. $AFG

Fifth Third Bancorp increased its stake in American Financial Group, Inc. (NYSE:AFG) by 264.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 21,579 shares of the insurance provider’s stock after buying an additional 15,663 shares during the quarter. Fifth Third Bancorp’s holdings in American Financial Group were worth $2,756,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AFG. Steph & Co. grew its holdings in American Financial Group by 11.5% during the first quarter. Steph & Co. now owns 787 shares of the insurance provider’s stock valued at $101,000 after purchasing an additional 81 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in American Financial Group by 4.4% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,975 shares of the insurance provider’s stock valued at $252,000 after acquiring an additional 83 shares during the period. JB Capital LLC lifted its holdings in American Financial Group by 2.1% during the fourth quarter. JB Capital LLC now owns 4,268 shares of the insurance provider’s stock valued at $583,000 after purchasing an additional 89 shares during the last quarter. Larson Financial Group LLC lifted its holdings in American Financial Group by 2.2% during the fourth quarter. Larson Financial Group LLC now owns 4,546 shares of the insurance provider’s stock valued at $621,000 after purchasing an additional 98 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in American Financial Group by 1.1% during the fourth quarter. Cetera Investment Advisers now owns 9,030 shares of the insurance provider’s stock worth $1,234,000 after purchasing an additional 100 shares during the period. 64.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AFG. Wells Fargo & Company lifted their target price on shares of American Financial Group from $158.00 to $173.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Keefe, Bruyette & Woods increased their target price on American Financial Group from $140.00 to $148.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Piper Sandler raised their price target on American Financial Group from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of American Financial Group in a report on Thursday, June 11th. Two 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, American Financial Group has a consensus rating of “Hold” and an average price target of $150.75.

American Financial Group Stock Up 0.3%

Shares of NYSE:AFG opened at $142.25 on Tuesday. The firm has a fifty day moving average price of $136.15 and a two-hundred day moving average price of $132.36. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.48 and a quick ratio of 0.48. American Financial Group, Inc. has a one year low of $122.11 and a one year high of $150.02. The company has a market cap of $11.82 billion, a price-to-earnings ratio of 13.52 and a beta of 0.62.

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

American Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Wednesday, July 15th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. American Financial Group’s payout ratio is presently 33.46%.

Insider Activity at American Financial Group

In related news, SVP Michelle A. Gillis sold 2,247 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $139.00, for a total value 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. This represents a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 584,098 shares in the company, valued at $78,882,434.90. This represents a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 16.90% of the stock is currently owned by corporate insiders.

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.