Truist Financial Corp Purchases 1,560 Shares of American Financial Group, Inc. (NYSE:AFG)

Truist Financial Corp boosted its position in shares of American Financial Group, Inc. (NYSE:AFG) by 14.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,150 shares of the insurance provider’s stock after purchasing an additional 1,560 shares during the period. Truist Financial Corp’s holdings in American Financial Group were worth $1,495,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AFG. Goldman Sachs Group Inc. grew its holdings in American Financial Group by 3.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 648,878 shares of the insurance provider’s stock valued at $77,145,000 after purchasing an additional 18,945 shares during the last quarter. Slagle Financial LLC grew its holdings in American Financial Group by 103.7% during the 4th quarter. Slagle Financial LLC now owns 28,730 shares of the insurance provider’s stock valued at $3,416,000 after purchasing an additional 14,623 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in American Financial Group in the 4th quarter worth about $7,133,000. Quadrature Capital Ltd grew its stake in American Financial Group by 67.3% in the 4th quarter. Quadrature Capital Ltd now owns 17,584 shares of the insurance provider’s stock worth $2,092,000 after acquiring an additional 7,073 shares in the last quarter. Finally, Symmetry Partners LLC bought a new position in American Financial Group in the 1st quarter worth about $219,000. 64.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AFG has been the topic of a number of research analyst reports. Citigroup downgraded shares of American Financial Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $144.00 to $137.00 in a research note on Friday, June 28th. BMO Capital Markets upped their target price on shares of 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 Price Performance

NYSE AFG opened at $135.94 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.46 and a current ratio of 0.46. The firm’s 50 day moving average price is $132.60 and its 200-day moving average price is $129.67. American Financial Group, Inc. has a 52-week low of $105.22 and a 52-week high of $138.81. The company has a market cap of $11.40 billion, a PE ratio of 13.01 and a beta of 0.78.

American Financial Group (NYSE:AFG) last released its quarterly earnings data on Tuesday, August 6th. The insurance provider reported $2.56 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.72 billion. During the same period last year, the firm earned $2.38 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Sell-side analysts forecast that American Financial Group, Inc. will post 10.99 EPS for the current fiscal year.

American Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Tuesday, October 15th will be given a dividend of $0.80 per share. This is a boost 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 yield of 2.35%. American Financial Group’s dividend payout ratio is presently 30.62%.

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.