Nordea Investment Management AB Boosts Stake in American Financial Group, Inc. $AFG

Nordea Investment Management AB lifted its stake in American Financial Group, Inc. (NYSE:AFG) by 72.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,894 shares of the insurance provider’s stock after buying an additional 24,334 shares during the period. Nordea Investment Management AB’s holdings in American Financial Group were worth $7,249,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of AFG. Wealth Enhancement Advisory Services LLC boosted its position in shares of American Financial Group by 31.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,389 shares of the insurance provider’s stock worth $1,102,000 after buying an additional 2,006 shares during the period. State of Alaska Department of Revenue boosted its position in shares of American Financial Group by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 9,303 shares of the insurance provider’s stock worth $1,221,000 after buying an additional 230 shares during the period. Synergy Asset Management LLC purchased a new stake in shares of American Financial Group in the first quarter worth about $357,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of American Financial Group by 1,113.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,796 shares of the insurance provider’s stock worth $2,469,000 after buying an additional 17,247 shares during the period. Finally, Valmark Advisers Inc. purchased a new stake in shares of American Financial Group in the first quarter worth about $1,080,000. Hedge funds and other institutional investors own 64.37% of the company’s stock.

Insider Transactions at American Financial Group

In related news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $134.31, for a total value of $1,343,100.00. Following the completion of the transaction, the director directly owned 326,730 shares of the company’s stock, valued at $43,883,106.30. This represents a 2.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 17.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AFG. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of American Financial Group in a research report on Wednesday, October 8th. Jefferies Financial Group increased their price target on American Financial Group from $125.00 to $130.00 and gave the company a “hold” rating in a report on Monday, August 11th. Wall Street Zen raised American Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Finally, Keefe, Bruyette & Woods reduced their price target on American Financial Group from $127.00 to $124.00 and set a “market perform” rating for the company in a report on Tuesday, August 12th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $136.75.

American Financial Group Stock Down 0.4%

Shares of American Financial Group stock opened at $130.63 on Tuesday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.33. The business’s 50 day simple moving average is $138.71 and its 200-day simple moving average is $129.95. The stock has a market capitalization of $10.89 billion, a price-to-earnings ratio of 14.35 and a beta of 0.74. American Financial Group, Inc. has a twelve month low of $114.73 and a twelve month high of $150.19.

American Financial Group (NYSE:AFG) last announced its quarterly earnings results on Tuesday, August 5th. The insurance provider reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.06. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.77 billion. American Financial Group had a return on equity of 17.41% and a net margin of 9.21%.The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.56 EPS. Equities research analysts forecast that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Wednesday, October 15th will be issued a $0.88 dividend. This is a positive change from American Financial Group’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $3.52 dividend on an annualized basis and a yield of 2.7%. American Financial Group’s dividend payout ratio is currently 38.68%.

American Financial Group Profile

American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. The company offers property and transportation insurance products, such as physical damage and liability coverage for buses and trucks, inland and ocean marine, agricultural-related products, and other commercial property and specialty transportation coverages; specialty casualty insurance, including primarily excess and surplus, executive and professional liability, general liability, umbrella and excess liability, and specialty coverage in targeted markets, as well as customized programs for small to mid-sized businesses and workers’ compensation insurance; and specialty financial insurance products comprising risk management insurance programs for lending and leasing institutions, fidelity and surety products, and trade credit insurance.