Northwestern Mutual Wealth Management Co. Buys 16,274 Shares of American Financial Group, Inc. $AFG

Northwestern Mutual Wealth Management Co. grew its stake in American Financial Group, Inc. (NYSE:AFG) by 452.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,871 shares of the insurance provider’s stock after purchasing an additional 16,274 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in American Financial Group were worth $2,508,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AFG. Advisors Asset Management Inc. raised its position in American Financial Group by 3.2% in the second quarter. Advisors Asset Management Inc. now owns 2,640 shares of the insurance provider’s stock worth $333,000 after purchasing an additional 83 shares in the last quarter. Diversified Trust Co boosted its stake in American Financial Group by 4.6% in the 2nd quarter. Diversified Trust Co now owns 2,356 shares of the insurance provider’s stock valued at $297,000 after buying an additional 103 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of American Financial Group by 15.6% during the second quarter. UMB Bank n.a. now owns 776 shares of the insurance provider’s stock valued at $98,000 after acquiring an additional 105 shares during the period. CX Institutional boosted its stake in shares of American Financial Group by 4.5% in the 2nd quarter. CX Institutional now owns 2,839 shares of the insurance provider’s stock valued at $358,000 after purchasing an additional 122 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in shares of American Financial Group by 421.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 198 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 160 shares during the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.

Analysts Set New Price Targets

AFG has been the topic of a number of research analyst reports. Piper Sandler raised their price target on American Financial Group from $130.00 to $139.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of American Financial Group in a report on Monday. Keefe, Bruyette & Woods decreased their price target on American Financial Group from $127.00 to $124.00 and set a “market perform” rating on the stock in a report on Tuesday, August 12th. Wall Street Zen raised shares of American Financial Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $142.00 price objective on shares of American Financial Group in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $135.00.

American Financial Group Price Performance

Shares of AFG opened at $133.34 on Friday. American Financial Group, Inc. has a twelve month low of $114.73 and a twelve month high of $150.02. The company has a 50 day moving average of $137.95 and a 200-day moving average of $132.33. The stock has a market capitalization of $11.12 billion, a P/E ratio of 14.01 and a beta of 0.69. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.38.

American Financial Group (NYSE:AFG) last issued its earnings results on Wednesday, November 5th. The insurance provider reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.35 by $0.34. American Financial Group had a net margin of 9.66% and a return on equity of 18.05%. The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the company earned $2.31 earnings per share. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, equities research analysts forecast that American Financial Group, Inc. will post 10.5 EPS for the current fiscal year.

American Financial Group Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, November 17th. American Financial Group’s payout ratio is 36.97%.

Insider Activity

In related news, CFO Brian S. Hertzman sold 1,777 shares of American Financial Group stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $142.51, for a total transaction of $253,240.27. Following the completion of the sale, the chief financial officer owned 11,300 shares of the company’s stock, valued at approximately $1,610,363. The trade was a 13.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 17.40% of the company’s stock.

About American Financial Group

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.