Healthcare of Ontario Pension Plan Trust Fund Takes $6.51 Million Position in American Financial Group, Inc. $AFG

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in American Financial Group, Inc. (NYSE:AFG) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 51,000 shares of the insurance provider’s stock, valued at approximately $6,513,000.

Several other large investors have also modified their holdings of AFG. Norges Bank acquired a new position in American Financial Group in the 4th quarter valued at $114,661,000. M&T Bank Corp raised its holdings in American Financial Group by 20,131.5% in the 4th quarter. M&T Bank Corp now owns 637,090 shares of the insurance provider’s stock worth $87,077,000 after acquiring an additional 633,941 shares during the period. Vestor Capital LLC lifted its position in American Financial Group by 100,006.8% during the 4th quarter. Vestor Capital LLC now owns 600,641 shares of the insurance provider’s stock worth $82,096,000 after acquiring an additional 600,041 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in American Financial Group by 337.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 431,144 shares of the insurance provider’s stock worth $55,061,000 after acquiring an additional 332,517 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new stake in American Financial Group during the fourth quarter valued at about $43,832,000. 64.37% of the stock is owned by institutional investors.

American Financial Group Trading Down 1.0%

Shares of American Financial Group stock opened at $143.49 on Thursday. American Financial Group, Inc. has a 52-week low of $122.11 and a 52-week high of $150.02. The firm has a market capitalization of $11.92 billion, a PE ratio of 13.64 and a beta of 0.62. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.48 and a quick ratio of 0.48. The company’s fifty day moving average price is $137.28 and its two-hundred day moving average price is $132.74.

American Financial Group (NYSE:AFG) last released its quarterly earnings data on Thursday, April 30th. The insurance provider reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.07). American Financial Group had a return on equity of 19.50% and a net margin of 10.76%.The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the business posted $1.81 earnings per share. American Financial Group’s revenue was down .1% on a year-over-year basis. On average, analysts expect that American Financial Group, Inc. will post 11.37 EPS for the current year.

American Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Wednesday, July 15th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, July 15th. American Financial Group’s dividend payout ratio is 33.46%.

Insider Transactions at American Financial Group

In other news, insider David Lawrence Thompson, Jr. sold 11,370 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $135.05, for a total value of $1,535,518.50. Following the completion of the transaction, the insider directly owned 584,098 shares of the company’s stock, valued at approximately $78,882,434.90. This represents a 1.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michelle A. Gillis sold 2,247 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $139.00, for a total value of $312,333.00. Following the completion of the transaction, the senior vice president directly owned 13,135 shares of the company’s stock, valued at approximately $1,825,765. The trade was a 14.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 16.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AFG. Wells Fargo & Company raised their price target on American Financial Group from $158.00 to $173.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of American Financial Group in a research report on Thursday, June 11th. Keefe, Bruyette & Woods increased their target price on American Financial Group from $140.00 to $148.00 and gave the company a “market perform” rating in a research note on Wednesday, July 8th. Finally, Piper Sandler raised their target price on American Financial Group from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, American Financial Group has an average rating of “Hold” and an average price target of $150.75.

American Financial Group Company Profile

American Financial Group, Inc (NYSE: AFG) is a diversified holding company primarily engaged in property and casualty insurance and reinsurance. Through its flagship subsidiary, Great American Insurance Company, the firm underwrites a broad range of specialty insurance products for commercial and industrial clients, including inland marine, excess and surplus lines, executive liability, and environmental liability coverage. In addition, American Financial Group offers supplemental accident and health insurance and assumes reinsurance risks from other insurers, helping to diversify its underwriting portfolio.

The company traces its roots to 1946, when it was founded by Carl Lindner, Sr.