Seven Eight Capital LP Makes New $304,000 Investment in American Financial Group, Inc. (NYSE:AFG)

Seven Eight Capital LP bought a new stake in American Financial Group, Inc. (NYSE:AFG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,474 shares of the insurance provider’s stock, valued at approximately $304,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in American Financial Group by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 836,619 shares of the insurance provider’s stock valued at $102,921,000 after purchasing an additional 7,797 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of American Financial Group by 3.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 648,878 shares of the insurance provider’s stock valued at $77,145,000 after buying an additional 18,945 shares during the last quarter. Johnson Investment Counsel Inc. grew its stake in shares of American Financial Group by 0.4% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 576,174 shares of the insurance provider’s stock worth $70,881,000 after acquiring an additional 2,389 shares during the period. Bahl & Gaynor Inc. increased its holdings in American Financial Group by 8.6% in the 2nd quarter. Bahl & Gaynor Inc. now owns 492,021 shares of the insurance provider’s stock worth $60,528,000 after acquiring an additional 38,937 shares during the last quarter. Finally, Boston Trust Walden Corp raised its stake in American Financial Group by 2.8% in the 2nd quarter. Boston Trust Walden Corp now owns 431,218 shares of the insurance provider’s stock valued at $53,048,000 after acquiring an additional 11,897 shares during the period. 64.37% of the stock is owned by institutional investors.

American Financial Group Price Performance

American Financial Group stock opened at $135.62 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.46 and a quick ratio of 0.46. American Financial Group, Inc. has a one year low of $105.22 and a one year high of $137.95. The firm has a market capitalization of $11.37 billion, a P/E ratio of 12.98 and a beta of 0.78. The business has a fifty day moving average price of $130.23 and a 200-day moving average price of $129.18.

American Financial Group (NYSE:AFG) last posted its earnings results on Tuesday, August 6th. The insurance provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.11. American Financial Group had a return on equity of 21.16% and a net margin of 11.06%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the firm earned $2.38 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts forecast that American Financial Group, Inc. will post 10.96 EPS for the current year.

American Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 15th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.09%. The ex-dividend date was Monday, July 15th. American Financial Group’s dividend payout ratio is presently 27.18%.

Wall Street Analysts Forecast Growth

Separately, Citigroup lowered shares of American Financial Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $144.00 to $137.00 in a research report on Friday, June 28th.

Insider Buying and Selling at American Financial Group

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

American Financial Group Company 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.