New York State Teachers Retirement System Decreases Stock Position in American Financial Group, Inc. (NYSE:AFG)

New York State Teachers Retirement System cut its holdings in American Financial Group, Inc. (NYSE:AFG) by 6.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 74,124 shares of the insurance provider’s stock after selling 4,933 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of American Financial Group worth $9,977,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in shares of American Financial Group in the second quarter worth about $30,000. Headlands Technologies LLC purchased a new position in shares of American Financial Group in the second quarter worth about $38,000. Covestor Ltd raised its stake in shares of American Financial Group by 402.3% in the first quarter. Covestor Ltd now owns 432 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 346 shares during the last quarter. Blue Trust Inc. raised its stake in shares of American Financial Group by 44.3% in the second quarter. Blue Trust Inc. now owns 433 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 133 shares during the last quarter. Finally, Abich Financial Wealth Management LLC raised its stake in shares of American Financial Group by 10,460.0% in the first 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 during the last quarter. 64.37% of the stock is currently owned by hedge funds and other institutional investors.

American Financial Group Stock Down 0.9 %

American Financial Group stock opened at $127.71 on Monday. The firm has a market cap of $10.71 billion, a price-to-earnings ratio of 12.05 and a beta of 0.79. American Financial Group, Inc. has a 52 week low of $106.62 and a 52 week high of $138.81. The business’s 50-day moving average price is $134.09 and its 200 day moving average price is $129.75. 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 (NYSE:AFG) last posted its earnings results on Tuesday, August 6th. The insurance provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.45 by $0.11. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.72 billion. American Financial Group had a return on equity of 21.16% and a net margin of 11.06%. American Financial Group’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $2.38 earnings per share. As a group, sell-side analysts anticipate that American Financial Group, Inc. will post 10.98 earnings per share for the current year.

American Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Tuesday, October 15th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.51%. This is a positive change from American Financial Group’s previous quarterly dividend of $0.71. The ex-dividend date was Tuesday, October 15th. American Financial Group’s dividend payout ratio (DPR) is 30.19%.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets raised their price objective on American Financial Group from $132.00 to $135.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 8th.

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.