Bank of New York Mellon Corp Grows Stock Holdings in American Financial Group, Inc. (NYSE:AFG)

Bank of New York Mellon Corp boosted its stake in American Financial Group, Inc. (NYSE:AFG) by 0.9% in the second quarter, Holdings Channel.com reports. The fund owned 836,619 shares of the insurance provider’s stock after buying an additional 7,797 shares during the quarter. Bank of New York Mellon Corp’s holdings in American Financial Group were worth $102,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC purchased a new stake in American Financial Group in the fourth quarter valued at $53,000. Covestor Ltd lifted its position in American Financial Group by 402.3% in the first quarter. Covestor Ltd now owns 432 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 346 shares during the last quarter. Blue Trust Inc. lifted its position in American Financial Group by 44.3% in the second quarter. Blue Trust Inc. now owns 433 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 133 shares during the last quarter. Abich Financial Wealth Management LLC increased its stake in American Financial Group by 10,460.0% in the first quarter. Abich Financial Wealth Management LLC now owns 528 shares of the insurance provider’s stock valued at $72,000 after purchasing an additional 523 shares during the period. Finally, Swedbank AB acquired a new position in American Financial Group in the first quarter valued at $133,000. 64.37% of the stock is owned by hedge funds and other institutional investors.

American Financial Group Trading Down 0.4 %

Shares of American Financial Group stock opened at $130.94 on Wednesday. American Financial Group, Inc. has a 52-week low of $105.22 and a 52-week high of $137.71. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.34. The company’s 50-day simple moving average is $126.41 and its 200-day simple moving average is $128.04. The firm has a market cap of $10.98 billion, a price-to-earnings ratio of 12.53 and a beta of 0.78.

American Financial Group (NYSE:AFG) last issued its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.11. American Financial Group had a net margin of 11.06% and a return on equity of 21.16%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the business posted $2.38 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts anticipate that American Financial Group, Inc. will post 10.97 earnings per share for the current year.

American Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Monday, July 15th were paid a dividend of $0.71 per share. The ex-dividend date was Monday, July 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.17%. American Financial Group’s dividend payout ratio (DPR) is 27.18%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AFG shares. Piper Sandler lifted their price objective on shares of American Financial Group from $129.00 to $135.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. Citigroup lowered shares of American Financial Group from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $144.00 to $137.00 in a research note on Friday, June 28th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $131.75.

Insider Transactions at American Financial Group

In other news, Director Amy Y. Murray purchased 1,200 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $125.17 per share, for a total transaction of $150,204.00. Following the completion of the purchase, the director now directly owns 1,200 shares in the company, valued at approximately $150,204. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 14.50% of the company’s stock.

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.