Cwm LLC Buys 1,133 Shares of American Financial Group, Inc. (NYSE:AFG)

Cwm LLC raised its stake in American Financial Group, Inc. (NYSE:AFG) by 952.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,252 shares of the insurance provider’s stock after acquiring an additional 1,133 shares during the period. Cwm LLC’s holdings in American Financial Group were worth $169,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Hengehold Capital Management LLC grew its holdings in American Financial Group by 40.0% during the 1st quarter. Hengehold Capital Management LLC now owns 25,532 shares of the insurance provider’s stock valued at $3,485,000 after buying an additional 7,295 shares in the last quarter. Astoria Portfolio Advisors LLC. bought a new position in American Financial Group during the first quarter valued at $214,000. MCF Advisors LLC grew its stake in shares of American Financial Group by 5,862.3% in the 1st quarter. MCF Advisors LLC now owns 4,114 shares of the insurance provider’s stock worth $561,000 after buying an additional 4,045 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of American Financial Group by 59.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the insurance provider’s stock worth $201,000 after buying an additional 547 shares during the last quarter. Finally, State of Michigan Retirement System increased its holdings in shares of American Financial Group by 1.8% in the 1st quarter. State of Michigan Retirement System now owns 17,110 shares of the insurance provider’s stock worth $2,335,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.

Wall Street Analysts Forecast Growth

AFG has been the subject of several recent research reports. Citigroup lowered American Financial Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $144.00 to $137.00 in a research report on Friday, June 28th. BMO Capital Markets lifted their target price on American Financial Group from $132.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, October 8th.

American Financial Group Price Performance

AFG opened at $132.02 on Thursday. The business has a fifty day moving average of $134.08 and a 200 day moving average of $129.68. The stock has a market cap of $11.07 billion, a P/E ratio of 12.63 and a beta of 0.78. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.34. American Financial Group, Inc. has a 52-week low of $106.46 and a 52-week high of $138.81.

American Financial Group (NYSE:AFG) last posted its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $2.56 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 firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the business posted $2.38 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, sell-side analysts anticipate that American Financial Group, Inc. will post 10.99 EPS for the current year.

American Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Tuesday, October 15th. This is an increase from American Financial Group’s previous quarterly dividend of $0.71. American Financial Group’s payout ratio is currently 30.62%.

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.