The Manufacturers Life Insurance Company Purchases 16,267 Shares of American Financial Group, Inc. (NYSE:AFG)

The Manufacturers Life Insurance Company raised its position in shares of American Financial Group, Inc. (NYSE:AFG) by 27.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,218 shares of the insurance provider’s stock after acquiring an additional 16,267 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.09% of American Financial Group worth $9,253,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of AFG. Bank of Montreal Can increased its position in American Financial Group by 251.1% during the second quarter. Bank of Montreal Can now owns 147,892 shares of the insurance provider’s stock valued at $19,442,000 after acquiring an additional 105,764 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of American Financial Group by 43.5% in the fourth quarter. First Trust Advisors LP now owns 264,183 shares of the insurance provider’s stock worth $31,409,000 after purchasing an additional 80,034 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of American Financial Group in the fourth quarter worth about $7,133,000. Lord Abbett & CO. LLC grew its holdings in shares of American Financial Group by 13.4% in the first quarter. Lord Abbett & CO. LLC now owns 396,355 shares of the insurance provider’s stock worth $54,095,000 after purchasing an additional 46,702 shares during the last quarter. Finally, Bahl & Gaynor Inc. grew its holdings in shares of American Financial Group by 8.6% in the second quarter. Bahl & Gaynor Inc. now owns 492,021 shares of the insurance provider’s stock worth $60,528,000 after purchasing an additional 38,937 shares during the last quarter. Institutional investors own 64.37% of the company’s stock.

Analyst Ratings Changes

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

American Financial Group Trading Up 3.0 %

NYSE AFG opened at $138.65 on Friday. The company’s 50-day moving average price is $131.95 and its 200-day moving average price is $129.58. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.34. The stock has a market cap of $11.63 billion, a PE ratio of 13.27 and a beta of 0.78. American Financial Group, Inc. has a 12 month low of $105.22 and a 12 month high of $138.72.

American Financial Group (NYSE:AFG) last released its quarterly earnings data on Tuesday, August 6th. The insurance provider reported $2.56 earnings per share 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 company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the firm earned $2.38 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts forecast that American Financial Group, Inc. will post 10.96 earnings per share for the current year.

American Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Tuesday, October 15th will be paid a $0.80 dividend. The ex-dividend date is Tuesday, October 15th. This is a positive change from American Financial Group’s previous quarterly dividend of $0.71. This represents a $3.20 dividend on an annualized basis and a yield of 2.31%. American Financial Group’s dividend payout ratio is 30.62%.

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.