Frank Rimerman Advisors LLC Raises Stake in American Financial Group, Inc. $AFG

Frank Rimerman Advisors LLC lifted its position in American Financial Group, Inc. (NYSE:AFG) by 124.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,737 shares of the insurance provider’s stock after purchasing an additional 5,947 shares during the period. Frank Rimerman Advisors LLC’s holdings in American Financial Group were worth $1,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hantz Financial Services Inc. lifted its stake in shares of American Financial Group by 421.1% during the 2nd quarter. Hantz Financial Services Inc. now owns 198 shares of the insurance provider’s stock valued at $25,000 after buying an additional 160 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in American Financial Group during the second quarter valued at about $27,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of American Financial Group in the first quarter valued at about $34,000. Headlands Technologies LLC bought a new position in shares of American Financial Group in the first quarter worth about $55,000. Finally, IFP Advisors Inc grew its position in shares of American Financial Group by 86.7% during the second quarter. IFP Advisors Inc now owns 422 shares of the insurance provider’s stock worth $57,000 after purchasing an additional 196 shares in the last quarter. 64.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AFG has been the topic of a number of research analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of American Financial Group in a report on Thursday, November 13th. Piper Sandler boosted their target price on shares of American Financial Group from $130.00 to $139.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Jefferies Financial Group reaffirmed a “hold” rating and set a $142.00 target price on shares of American Financial Group in a research note on Tuesday, November 11th. Keefe, Bruyette & Woods reduced their price target on shares of American Financial Group from $127.00 to $124.00 and set a “market perform” rating on the stock in a report on Tuesday, August 12th. Finally, Wall Street Zen upgraded shares of American Financial Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $135.00.

Insider Activity

In other news, CFO Brian S. Hertzman sold 1,777 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $142.51, for a total value of $253,240.27. Following the completion of the sale, the chief financial officer directly owned 11,300 shares of the company’s stock, valued at $1,610,363. This trade represents a 13.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $134.31, for a total value of $1,343,100.00. Following the transaction, the director directly owned 326,730 shares in the company, valued at approximately $43,883,106.30. This represents a 2.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 17.40% of the company’s stock.

American Financial Group Stock Down 0.3%

NYSE AFG opened at $138.53 on Wednesday. The stock has a 50 day moving average price of $139.12 and a 200-day moving average price of $131.48. American Financial Group, Inc. has a one year low of $114.73 and a one year high of $150.19. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $11.55 billion, a P/E ratio of 15.22 and a beta of 0.78.

American Financial Group (NYSE:AFG) last released its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $2.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.34. American Financial Group had a net margin of 9.21% and a return on equity of 17.41%. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the prior year, the firm earned $2.31 earnings per share. American Financial Group’s revenue was up 13.4% on a year-over-year basis. As a group, equities analysts predict that American Financial Group, Inc. will post 10.5 EPS for the current fiscal year.

American Financial Group Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 17th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Monday, November 17th. American Financial Group’s dividend payout ratio (DPR) is presently 36.97%.

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.