Heritage Wealth Management Inc. Invests $307,000 in American Financial Group, Inc. (NYSE:AFG)

Heritage Wealth Management Inc. bought a new position in American Financial Group, Inc. (NYSE:AFG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,567 shares of the insurance provider’s stock, valued at approximately $307,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Innealta Capital LLC acquired a new stake in American Financial Group during the second quarter valued at $30,000. Headlands Technologies LLC acquired a new stake in American Financial Group during the second quarter valued at $38,000. Covestor Ltd boosted its position in American Financial Group by 402.3% during the first quarter. Covestor Ltd now owns 432 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 346 shares during the last quarter. Blue Trust Inc. boosted its position in American Financial Group by 44.3% during the second quarter. Blue Trust Inc. now owns 433 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 133 shares during the last quarter. Finally, Abich Financial Wealth Management LLC boosted its position in American Financial Group by 10,460.0% during the first quarter. Abich Financial Wealth Management LLC now owns 528 shares of the insurance provider’s stock valued at $72,000 after purchasing an additional 523 shares during the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.

American Financial Group Price Performance

NYSE AFG opened at $134.78 on Thursday. American Financial Group, Inc. has a fifty-two week low of $105.22 and a fifty-two week high of $137.95. The stock’s 50-day moving average is $131.33 and its two-hundred day moving average is $129.45. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.46 and a quick ratio of 0.46. The firm has a market cap of $11.31 billion, a P/E ratio of 12.90 and a beta of 0.78.

American Financial Group (NYSE:AFG) last posted its earnings results on Tuesday, August 6th. The insurance provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.11. American Financial Group had a return on equity of 21.16% and a net margin of 11.06%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the company earned $2.38 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. On average, analysts anticipate that American Financial Group, Inc. will post 10.96 earnings per share for the current fiscal year.

American Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders 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 dividend yield of 2.37%. American Financial Group’s payout ratio is presently 27.18%.

Analyst Ratings Changes

Separately, Citigroup cut American Financial Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $144.00 to $137.00 in a research report on Friday, June 28th.

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.