Canada Pension Plan Investment Board Makes New Investment in American Financial Group, Inc. (NYSE:AFG)

Canada Pension Plan Investment Board purchased a new stake in shares of American Financial Group, Inc. (NYSE:AFG) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 14,700 shares of the insurance provider’s stock, valued at approximately $1,808,000.

Several other large investors have also recently modified their holdings of the stock. Innealta Capital LLC purchased a new position in American Financial Group in the second quarter worth about $30,000. Headlands Technologies LLC purchased a new position in American Financial Group in the 2nd quarter worth approximately $38,000. Covestor Ltd lifted its position in American Financial Group by 402.3% in the 1st quarter. Covestor Ltd now owns 432 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 346 shares in the last quarter. Blue Trust Inc. boosted its stake in American Financial Group by 44.3% during the 2nd quarter. Blue Trust Inc. now owns 433 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 133 shares during the last quarter. Finally, Abich Financial Wealth Management LLC increased its holdings in shares of American Financial Group by 10,460.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 528 shares of the insurance provider’s stock worth $72,000 after purchasing an additional 523 shares in the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.

American Financial Group Trading Up 0.8 %

Shares of AFG stock opened at $136.32 on Friday. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.34. American Financial Group, Inc. has a 12-month low of $105.22 and a 12-month high of $137.95. The stock has a market capitalization of $11.43 billion, a P/E ratio of 13.04 and a beta of 0.78. The firm’s 50 day moving average is $130.73 and its 200 day moving average is $129.38.

American Financial Group (NYSE:AFG) last released 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 return on equity of 21.16% and a net margin of 11.06%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the business posted $2.38 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts expect that American Financial Group, Inc. will post 10.96 earnings per share for the current year.

American Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Monday, July 15th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Monday, July 15th. American Financial Group’s payout ratio is currently 27.18%.

Wall Street Analyst Weigh In

Separately, Citigroup cut 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 report on Friday, June 28th.

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.