VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Shares in American Financial Group, Inc. $AFG

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in American Financial Group, Inc. (NYSE:AFG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,400 shares of the insurance provider’s stock, valued at approximately $2,715,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Cassaday & Co Wealth Management LLC bought a new stake in American Financial Group during the 1st quarter worth approximately $26,000. Global Retirement Partners LLC raised its position in American Financial Group by 904.8% in the 4th quarter. Global Retirement Partners LLC now owns 211 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 190 shares during the last quarter. Clearstead Advisors LLC boosted its stake in American Financial Group by 87.7% in the fourth quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 121 shares in the last quarter. Keating Financial Advisory Services Inc. acquired a new position in American Financial Group in the second quarter worth $42,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of American Financial Group during the second quarter worth $46,000. 64.37% of the stock is currently owned by institutional investors and hedge funds.

American Financial Group Trading Up 0.7%

NYSE:AFG opened at $141.50 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.49 and a quick ratio of 0.49. The business’s 50-day simple moving average is $142.99 and its 200-day simple moving average is $135.76. American Financial Group, Inc. has a fifty-two week low of $123.09 and a fifty-two week high of $150.02. The stock has a market capitalization of $11.73 billion, a PE ratio of 12.37 and a beta of 0.60.

American Financial Group (NYSE:AFG) last posted its earnings results on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.50. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.85 billion. American Financial Group had a return on equity of 20.35% and a net margin of 11.51%.American Financial Group’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.14 EPS. Sell-side analysts expect that American Financial Group, Inc. will post 12.13 earnings per share for the current fiscal year.

American Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Wednesday, July 15th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. American Financial Group’s dividend payout ratio is currently 30.77%.

Wall Street Analysts Forecast Growth

AFG has been the subject of a number of research analyst reports. Piper Sandler lifted their price target on American Financial Group from $140.00 to $156.00 and gave the company a “neutral” rating in a report on Monday, August 10th. 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 report on Tuesday, August 11th. Weiss Ratings raised shares of American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Wells Fargo & Company increased their price target on shares of American Financial Group from $158.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Finally, Wall Street Zen raised shares of American Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $156.00.

Insider Activity at American Financial Group

In related news, insider David Thompson, Jr. sold 11,370 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $135.05, for a total transaction of $1,535,518.50. Following the sale, the insider directly owned 584,098 shares in the company, valued at $78,882,434.90. This trade represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brian Hertzman sold 950 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $142.87, for a total transaction of $135,726.50. Following the completion of the transaction, the chief financial officer directly owned 11,123 shares of the company’s stock, valued at approximately $1,589,143.01. The trade was a 7.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 17,380 shares of company stock valued at $2,390,788. Insiders own 16.90% of the company’s stock.

American Financial Group Company Profile

American Financial Group, Inc (NYSE:AFG) is an insurance holding company headquartered in Cincinnati, Ohio. Through its Great American Insurance Group subsidiaries, the company primarily underwrites specialty property and casualty insurance and sells annuity products.

Its property and casualty operations serve businesses, organizations and individuals through specialized products that include commercial transportation, agricultural and crop insurance, workers’ compensation, casualty coverage, financial institution insurance, surety and fidelity bonds, marine insurance, travel insurance and public-sector coverage.