Trust Point Inc. Makes New Investment in American Financial Group, Inc. (NYSE:AFG)

Trust Point Inc. acquired a new position in shares of American Financial Group, Inc. (NYSE:AFG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,491 shares of the insurance provider’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sei Investments Co. grew its stake in American Financial Group by 0.3% during the 2nd quarter. Sei Investments Co. now owns 26,059 shares of the insurance provider’s stock valued at $3,206,000 after acquiring an additional 86 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in American Financial Group by 2.2% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,674 shares of the insurance provider’s stock valued at $638,000 after acquiring an additional 100 shares in the last quarter. Diversified Trust Co grew its stake in American Financial Group by 5.0% during the 2nd quarter. Diversified Trust Co now owns 2,105 shares of the insurance provider’s stock valued at $259,000 after acquiring an additional 100 shares in the last quarter. Blue Trust Inc. grew 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 acquiring an additional 133 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in American Financial Group by 2.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 6,882 shares of the insurance provider’s stock valued at $937,000 after acquiring an additional 136 shares in the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.

American Financial Group Stock Down 1.2 %

American Financial Group stock opened at $136.32 on Monday. 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 1-year low of $105.22 and a 1-year high of $138.81. The firm’s fifty day simple moving average is $133.71 and its 200-day simple moving average is $129.66. The company has a market capitalization of $11.43 billion, a P/E ratio of 13.04 and a beta of 0.78.

American Financial Group (NYSE:AFG) last announced its quarterly earnings results 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. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.72 billion. American Financial Group had a return on equity of 21.16% and a net margin of 11.06%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.38 earnings per share. Sell-side analysts forecast that American Financial Group, Inc. will post 10.99 earnings per share for the current fiscal year.

American Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Tuesday, October 15th will be given a $0.80 dividend. This is a positive change from American Financial Group’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.35%. American Financial Group’s dividend payout ratio (DPR) is currently 30.62%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AFG. Citigroup cut American Financial Group from a “buy” rating to a “neutral” rating and lowered their target price for the company from $144.00 to $137.00 in a research note on Friday, June 28th. BMO Capital Markets lifted their target price on American Financial Group from $132.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, October 8th.

About American Financial Group

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.