Commerce Bank Invests $898,000 in American Financial Group, Inc. $AFG

Commerce Bank bought a new position in American Financial Group, Inc. (NYSE:AFG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,418 shares of the insurance provider’s stock, valued at approximately $898,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Cassaday & Co Wealth Management LLC acquired a new position in American Financial Group in the first quarter worth approximately $26,000. Global Retirement Partners LLC increased its holdings in shares of American Financial Group by 904.8% in the fourth quarter. Global Retirement Partners LLC now owns 211 shares of the insurance provider’s stock valued at $29,000 after buying an additional 190 shares in the last quarter. Clearstead Advisors LLC increased its holdings in shares of American Financial Group by 87.7% in the fourth quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider’s stock valued at $35,000 after buying an additional 121 shares in the last quarter. Keating Financial Advisory Services Inc. acquired a new stake in shares of American Financial Group during the 2nd quarter valued at $42,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of American Financial Group during the 4th quarter valued at $45,000. 64.37% of the stock is owned by institutional investors and hedge funds.

American Financial Group Stock Up 0.9%

Shares of NYSE:AFG opened at $144.95 on Thursday. The firm has a 50 day simple moving average of $141.92 and a 200 day simple moving average of $134.78. American Financial Group, Inc. has a 52 week low of $123.09 and a 52 week high of $150.02. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.49 and a current ratio of 0.49. The company has a market cap of $12.02 billion, a PE ratio of 12.67 and a beta of 0.62.

American Financial Group (NYSE:AFG) last posted its quarterly earnings data on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.50. American Financial Group had a net margin of 11.51% and a return on equity of 20.35%. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the company posted $2.14 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, 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 announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Wednesday, July 15th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, July 15th. American Financial Group’s dividend payout ratio (DPR) is 30.77%.

Insider Transactions at American Financial Group

In other news, insider David Lawrence Thompson, Jr. sold 11,370 shares of American Financial Group stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $135.05, for a total transaction of $1,535,518.50. Following the transaction, the insider owned 584,098 shares in the company, valued at approximately $78,882,434.90. The trade was a 1.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michelle A. Gillis sold 2,247 shares of American Financial Group stock in a transaction 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 owned 13,135 shares in the company, valued at $1,825,765. This represents a 14.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 16,430 shares of company stock valued at $2,255,061 over the last quarter. Company insiders own 16.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AFG shares. Weiss Ratings upgraded American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report 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. Piper Sandler upped their target price on American Financial Group from $140.00 to $156.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Keefe, Bruyette & Woods increased their price target on American Financial Group from $148.00 to $153.00 and gave the company a “market perform” rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company lifted their price target on American Financial Group from $158.00 to $173.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, American Financial Group currently has a consensus rating of “Hold” and an average target price of $156.00.

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.