American Financial Group, Inc. $AFG Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 16.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 64,591 shares of the insurance provider’s stock after acquiring an additional 9,263 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in American Financial Group were worth $8,152,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AFG. Envestnet Asset Management Inc. raised its holdings in shares of American Financial Group by 10.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 59,633 shares of the insurance provider’s stock worth $7,832,000 after acquiring an additional 5,799 shares during the period. Nordea Investment Management AB increased its position in American Financial Group by 72.5% during the second quarter. Nordea Investment Management AB now owns 57,894 shares of the insurance provider’s stock worth $7,249,000 after purchasing an additional 24,334 shares during the last quarter. LPL Financial LLC increased its position in American Financial Group by 116.5% during the first quarter. LPL Financial LLC now owns 14,821 shares of the insurance provider’s stock worth $1,947,000 after purchasing an additional 7,975 shares during the last quarter. Raymond James Financial Inc. raised its stake in American Financial Group by 133.7% during the first quarter. Raymond James Financial Inc. now owns 49,064 shares of the insurance provider’s stock worth $6,444,000 after purchasing an additional 28,068 shares during the period. Finally, Focus Partners Wealth boosted its holdings in American Financial Group by 50.5% in the 1st quarter. Focus Partners Wealth now owns 41,374 shares of the insurance provider’s stock valued at $5,434,000 after purchasing an additional 13,886 shares during the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.

American Financial Group Stock Down 0.2%

Shares of NYSE AFG opened at $142.02 on Thursday. The firm has a market cap of $11.84 billion, a price-to-earnings ratio of 15.61 and a beta of 0.78. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.33. American Financial Group, Inc. has a 52-week low of $114.73 and a 52-week high of $150.19. The business’s 50 day moving average is $138.95 and its two-hundred day moving average is $131.08.

American Financial Group (NYSE:AFG) last released its quarterly earnings results on Tuesday, November 4th. The insurance provider reported $2.69 EPS for the quarter, topping the consensus estimate of $2.35 by $0.34. American Financial Group had a return on equity of 17.41% and a net margin of 9.21%.The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the business posted $2.31 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. Research analysts predict that American Financial Group, Inc. will post 10.5 EPS for the current year.

American Financial Group Dividend Announcement

The company also recently announced a special dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th will be given a $2.00 dividend. The ex-dividend date of this dividend is Monday, November 17th. American Financial Group’s payout ratio is currently 36.97%.

Insider Activity

In other American Financial Group news, CFO Brian S. Hertzman sold 1,777 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $142.51, for a total transaction of $253,240.27. Following the sale, the chief financial officer directly owned 11,300 shares in the company, valued at $1,610,363. This represents a 13.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $134.31, for a total transaction of $1,343,100.00. Following the sale, the director directly owned 326,730 shares in the company, valued at $43,883,106.30. This represents a 2.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 17.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of American Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Weiss Ratings raised American Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, November 7th. Keefe, Bruyette & Woods cut their target price on American Financial Group from $127.00 to $124.00 and set a “market perform” rating for the company in a research note on Tuesday, August 12th. Jefferies Financial Group restated a “hold” rating and issued a $142.00 target price on shares of American Financial Group in a research report on Tuesday. Finally, Piper Sandler increased their price target on American Financial Group from $130.00 to $139.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $137.00.

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.