JPMorgan Chase & Co. Has $44.83 Million Stock Holdings in American Financial Group, Inc. (NYSE:AFG)

JPMorgan Chase & Co. lifted its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 78.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 333,078 shares of the insurance provider’s stock after purchasing an additional 146,237 shares during the quarter. JPMorgan Chase & Co.’s holdings in American Financial Group were worth $44,832,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Van ECK Associates Corp raised its position in shares of American Financial Group by 3.4% in the 2nd quarter. Van ECK Associates Corp now owns 10,756 shares of the insurance provider’s stock valued at $1,323,000 after buying an additional 356 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of American Financial Group by 6.0% during the 2nd quarter. Natixis Advisors LLC now owns 17,385 shares of the insurance provider’s stock worth $2,139,000 after acquiring an additional 991 shares in the last quarter. TD Asset Management Inc increased its stake in American Financial Group by 7.1% in the second quarter. TD Asset Management Inc now owns 27,831 shares of the insurance provider’s stock valued at $3,424,000 after acquiring an additional 1,854 shares during the last quarter. Acadian Asset Management LLC acquired a new position in American Financial Group during the second quarter valued at approximately $85,000. Finally, Oak Thistle LLC bought a new stake in American Financial Group during the second quarter worth $987,000. Institutional investors own 64.37% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AFG. Piper Sandler lifted their price target on American Financial Group from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. BMO Capital Markets raised their price objective on American Financial Group from $135.00 to $143.00 and gave the company a “market perform” rating in a research note on Friday, November 15th.

American Financial Group Price Performance

American Financial Group stock opened at $135.00 on Monday. The firm has a market cap of $11.33 billion, a P/E ratio of 12.65 and a beta of 0.83. The stock’s 50 day moving average is $138.73 and its 200 day moving average is $133.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.53 and a quick ratio of 0.53. American Financial Group, Inc. has a one year low of $115.64 and a one year high of $150.19.

American Financial Group (NYSE:AFG) last released its earnings results on Tuesday, November 5th. The insurance provider reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.20). American Financial Group had a net margin of 10.84% and a return on equity of 19.97%. The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the firm earned $2.45 EPS. American Financial Group’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, research analysts expect that American Financial Group, Inc. will post 10.73 EPS for the current year.

American Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Tuesday, January 14th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $3.20 annualized dividend and a yield of 2.37%. American Financial Group’s dividend payout ratio is currently 29.99%.

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.