Oppenheimer Asset Management Inc. Invests $635,000 in American Financial Group, Inc. $AFG

Oppenheimer Asset Management Inc. purchased a new position in shares of American Financial Group, Inc. (NYSE:AFG) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 4,541 shares of the insurance provider’s stock, valued at approximately $635,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in shares of American Financial Group by 11.1% during the 1st quarter. Royal Bank of Canada now owns 75,421 shares of the insurance provider’s stock worth $9,905,000 after buying an additional 7,554 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of American Financial Group in the first quarter valued at approximately $2,330,000. Jones Financial Companies Lllp boosted its stake in shares of American Financial Group by 145.8% in the first quarter. Jones Financial Companies Lllp now owns 1,278 shares of the insurance provider’s stock valued at $168,000 after buying an additional 758 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in American Financial Group by 144.8% during the second quarter. EverSource Wealth Advisors LLC now owns 793 shares of the insurance provider’s stock worth $100,000 after acquiring an additional 469 shares during the period. Finally, Cerity Partners LLC raised its position in American Financial Group by 62.4% in the second quarter. Cerity Partners LLC now owns 2,941 shares of the insurance provider’s stock worth $371,000 after acquiring an additional 1,130 shares in the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.

American Financial Group Stock Up 0.2%

AFG opened at $146.51 on Tuesday. American Financial Group, Inc. has a one year low of $123.09 and a one year high of $150.02. The company has a market cap of $12.15 billion, a price-to-earnings ratio of 12.81 and a beta of 0.62. The business’s fifty day moving average is $140.37 and its two-hundred day moving average is $134.03. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.49 and a current ratio of 0.49.

American Financial Group (NYSE:AFG) last released its quarterly earnings results on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.50. American Financial Group had a return on equity of 20.35% and a net margin of 11.51%.The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the company posted $2.14 EPS. The business’s revenue was up 5.5% on a year-over-year basis. Analysts anticipate that American Financial Group, Inc. will post 11.73 EPS for the current fiscal year.

American Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Wednesday, July 15th were given a dividend of $0.88 per share. The ex-dividend date was Wednesday, July 15th. This represents a $3.52 dividend on an annualized basis and a yield of 2.4%. American Financial Group’s payout ratio is presently 30.77%.

Insiders Place Their Bets

In other news, SVP Michelle A. Gillis sold 2,247 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $139.00, for a total transaction 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 $1,825,765. This trade represents a 14.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Mark A. Weiss sold 2,813 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $144.76, for a total value of $407,209.88. Following the completion of the sale, the vice president directly owned 6,648 shares in the company, valued at approximately $962,364.48. The trade was a 29.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 16,430 shares of company stock worth $2,255,061. Insiders own 16.90% of the company’s stock.

Analysts Set New Price Targets

AFG has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their target price on American Financial Group from $158.00 to $173.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Wall Street Zen upgraded shares of American Financial Group from a “hold” rating to a “buy” rating in a report on Saturday. Keefe, Bruyette & Woods raised their price objective on shares of American Financial Group from $148.00 to $153.00 and gave the company a “market perform” rating in a research note on Tuesday, August 11th. Piper Sandler raised their price objective on shares of American Financial Group from $140.00 to $156.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Finally, Weiss Ratings raised shares of American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $156.00.

About American Financial Group

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.