M&G Plc Acquires New Holdings in American Financial Group, Inc. (NYSE:AFG)

M&G Plc bought a new position in American Financial Group, Inc. (NYSE:AFG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,729 shares of the insurance provider’s stock, valued at approximately $459,000.

Other large investors also recently added to or reduced their stakes in the company. Covestor Ltd raised its holdings in American Financial Group by 402.3% during the first quarter. Covestor Ltd now owns 432 shares of the insurance provider’s stock valued at $59,000 after buying an additional 346 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of American Financial Group during the 4th quarter valued at about $53,000. Abich Financial Wealth Management LLC raised its stake in shares of American Financial Group by 10,460.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 528 shares of the insurance provider’s stock valued at $72,000 after acquiring an additional 523 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in American Financial Group by 7,616.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 926 shares of the insurance provider’s stock worth $110,000 after purchasing an additional 914 shares during the last quarter. Finally, Swedbank AB acquired a new position in American Financial Group during the first quarter valued at approximately $133,000. 64.37% of the stock is owned by institutional investors.

Insider Activity

In other American Financial Group news, Director Amy Y. Murray purchased 1,200 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average price of $125.17 per share, with a total value of $150,204.00. Following the completion of the transaction, the director now directly owns 1,200 shares of the company’s stock, valued at approximately $150,204. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 14.50% of the stock is owned by company insiders.

American Financial Group Stock Up 1.2 %

AFG stock opened at $126.59 on Wednesday. American Financial Group, Inc. has a twelve month low of $105.22 and a twelve month high of $137.71. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.35. The company has a market cap of $10.62 billion, a PE ratio of 12.11 and a beta of 0.78. The business’s 50-day simple moving average is $125.75 and its 200 day simple moving average is $127.33.

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. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.72 billion. American Financial Group had a return on equity of 21.44% and a net margin of 11.06%. American Financial Group’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.38 earnings per share. On average, research analysts anticipate that American Financial Group, Inc. will post 10.93 earnings per share for the current year.

American Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Monday, July 15th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Monday, July 15th. American Financial Group’s payout ratio is 27.18%.

Analyst Upgrades and Downgrades

AFG has been the subject of a number of research analyst reports. Citigroup lowered shares of American Financial Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $144.00 to $137.00 in a research report on Friday, June 28th. Piper Sandler raised their target price on American Financial Group from $129.00 to $135.00 and gave the company a “neutral” rating in a report on Monday, May 6th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $131.75.

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.