RMB Capital Management LLC lifted its stake in shares of American Financial Group Inc (NYSE:AFG) by 18.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 144,284 shares of the insurance provider’s stock after buying an additional 22,306 shares during the quarter. RMB Capital Management LLC owned approximately 0.16% of American Financial Group worth $10,111,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Investment Management Company LLC grew its position in shares of American Financial Group by 21.6% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 25,998 shares of the insurance provider’s stock worth $1,822,000 after buying an additional 4,620 shares in the last quarter. Commerce Bank grew its position in shares of American Financial Group by 32.4% during the first quarter. Commerce Bank now owns 6,511 shares of the insurance provider’s stock worth $456,000 after buying an additional 1,592 shares in the last quarter. Trexquant Investment LP acquired a new position in American Financial Group in the first quarter valued at approximately $532,000. Alberta Investment Management Corp boosted its holdings in American Financial Group by 145.2% in the first quarter. Alberta Investment Management Corp now owns 106,400 shares of the insurance provider’s stock valued at $7,457,000 after purchasing an additional 63,000 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board acquired a new position in American Financial Group in the first quarter valued at approximately $641,000. 65.76% of the stock is owned by institutional investors and hedge funds.
NYSE AFG traded down $0.70 on Friday, reaching $59.81. The stock had a trading volume of 840,867 shares, compared to its average volume of 747,420. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.14 and a current ratio of 0.14. American Financial Group Inc has a 12-month low of $44.01 and a 12-month high of $115.03. The business’s 50-day moving average price is $65.32 and its 200 day moving average price is $93.02. The stock has a market cap of $5.44 billion, a P/E ratio of 7.14 and a beta of 0.89.
American Financial Group (NYSE:AFG) last issued its quarterly earnings data on Monday, May 11th. The insurance provider reported $1.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.85 by $0.03. American Financial Group had a return on equity of 12.99% and a net margin of 3.57%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the business earned $2.02 earnings per share. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, sell-side analysts predict that American Financial Group Inc will post 6.66 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Shareholders of record on Wednesday, April 15th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Tuesday, April 14th. American Financial Group’s dividend payout ratio is currently 20.88%.
A number of equities analysts recently issued reports on AFG shares. Raymond James downgraded American Financial Group from a “market perform” rating to an “underperform” rating in a report on Friday, April 17th. TheStreet downgraded American Financial Group from a “b-” rating to a “c+” rating in a report on Thursday, March 19th. Cfra lowered their price target on American Financial Group from $118.00 to $69.00 and set a “hold” rating for the company in a report on Tuesday, May 12th. Finally, Piper Sandler lowered their price target on American Financial Group from $100.00 to $74.00 and set an “overweight” rating for the company in a report on Monday, April 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. American Financial Group currently has a consensus rating of “Hold” and a consensus target price of $92.75.
About American Financial Group
American Financial Group, Inc, an insurance holding company, provides property and casualty insurance products in the United States. The company operates through three segments: Property and Casualty Insurance, Annuity, and Other. It offers property and transportation insurance products, such as physical damage and liability coverage for buses, trucks and recreational vehicles, inland and ocean marine, agricultural-related products, and other property; specialty casualty insurance, including primarily excess and surplus, general liability, executive liability, professional 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 leasing and financing institutions, surety and fidelity products, and trade credit insurance.
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