Intech Investment Management LLC Reduces Position in American Financial Group, Inc. (NYSE:AFG)

Intech Investment Management LLC lowered its position in American Financial Group, Inc. (NYSE:AFG) by 36.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 24,578 shares of the insurance provider’s stock after selling 13,949 shares during the period. Intech Investment Management LLC’s holdings in American Financial Group were worth $3,308,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in shares of American Financial Group by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 836,619 shares of the insurance provider’s stock valued at $102,921,000 after acquiring an additional 7,797 shares during the period. Johnson Investment Counsel Inc. increased its stake in American Financial Group by 0.4% in the second quarter. Johnson Investment Counsel Inc. now owns 576,174 shares of the insurance provider’s stock valued at $70,881,000 after purchasing an additional 2,389 shares during the period. EULAV Asset Management raised its holdings in shares of American Financial Group by 9.4% in the third quarter. EULAV Asset Management now owns 498,721 shares of the insurance provider’s stock valued at $67,128,000 after buying an additional 42,902 shares during the last quarter. Bahl & Gaynor Inc. boosted its stake in shares of American Financial Group by 8.6% during the second quarter. Bahl & Gaynor Inc. now owns 492,021 shares of the insurance provider’s stock worth $60,528,000 after buying an additional 38,937 shares during the period. Finally, Boston Trust Walden Corp grew its holdings in shares of American Financial Group by 2.8% during the second quarter. Boston Trust Walden Corp now owns 431,218 shares of the insurance provider’s stock worth $53,048,000 after buying an additional 11,897 shares during the last quarter. 64.37% of the stock is owned by institutional investors and hedge funds.

American Financial Group Price Performance

Shares of NYSE:AFG opened at $146.47 on Friday. American Financial Group, Inc. has a 52 week low of $110.53 and a 52 week high of $147.01. The company has a 50-day moving average price of $135.68 and a 200 day moving average price of $130.81. The company has a market cap of $12.29 billion, a P/E ratio of 13.73 and a beta of 0.79. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.31.

American Financial Group (NYSE:AFG) last posted its quarterly earnings results on Tuesday, November 5th. The insurance provider reported $2.31 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.20). American Financial Group had a net margin of 10.84% and a return on equity of 19.97%. The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the business earned $2.45 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. Research analysts predict that American Financial Group, Inc. will post 10.73 earnings per share for the current year.

American Financial Group Increases Dividend

The business also recently declared a None dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Friday, November 15th will be issued a $4.00 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from American Financial Group’s previous None dividend of $1.00. American Financial Group’s dividend payout ratio (DPR) is currently 29.99%.

Analysts Set New Price Targets

AFG has been the subject of several analyst reports. Piper Sandler upped their price objective on American Financial Group from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. BMO Capital Markets upped their price target on American Financial Group from $135.00 to $143.00 and gave the stock a “market perform” rating in a research note on Friday, November 15th.

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.