Argent Capital Management LLC Increases Stock Position in American Financial Group, Inc. (NYSE:AFG)

Argent Capital Management LLC raised its position in American Financial Group, Inc. (NYSE:AFG) by 2.4% during the third quarter, Holdings Channel.com reports. The fund owned 28,575 shares of the insurance provider’s stock after purchasing an additional 676 shares during the quarter. Argent Capital Management LLC’s holdings in American Financial Group were worth $3,846,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Innealta Capital LLC bought a new stake in shares of American Financial Group in the second quarter worth about $30,000. Headlands Technologies LLC purchased a new stake in American Financial Group in the 2nd quarter worth approximately $38,000. Covestor Ltd grew its position in shares of American Financial Group by 402.3% in the 1st quarter. Covestor Ltd now owns 432 shares of the insurance provider’s stock worth $59,000 after buying an additional 346 shares during the last quarter. Blue Trust Inc. increased its stake in shares of American Financial Group by 44.3% during the second quarter. Blue Trust Inc. now owns 433 shares of the insurance provider’s stock valued at $59,000 after buying an additional 133 shares during the period. Finally, Abich Financial Wealth Management LLC increased its stake in shares of American Financial Group by 10,460.0% during the first quarter. Abich Financial Wealth Management LLC now owns 528 shares of the insurance provider’s stock valued at $72,000 after buying an additional 523 shares during the period. 64.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AFG has been the topic of several recent analyst reports. Citigroup cut shares of American Financial Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $144.00 to $137.00 in a report on Friday, June 28th. BMO Capital Markets lifted their target price on shares of American Financial Group from $132.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, October 8th.

American Financial Group Stock Up 0.5 %

Shares of AFG traded up $0.70 on Thursday, reaching $132.72. The stock had a trading volume of 37,431 shares, compared to its average volume of 300,162. The company has a 50-day simple moving average of $134.08 and a 200-day simple moving average of $129.68. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.46 and a current ratio of 0.46. The firm has a market capitalization of $11.13 billion, a price-to-earnings ratio of 12.63 and a beta of 0.78. American Financial Group, Inc. has a 12-month low of $106.62 and a 12-month high of $138.81.

American Financial Group (NYSE:AFG) last announced its earnings results on Tuesday, August 6th. The insurance provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.11. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.72 billion. American Financial Group had a net margin of 11.06% and a return on equity of 21.16%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.38 EPS. Sell-side analysts predict that American Financial Group, Inc. will post 10.99 EPS for the current year.

American Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Tuesday, October 15th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Tuesday, October 15th. This is a boost from American Financial Group’s previous quarterly dividend of $0.71. American Financial Group’s dividend payout ratio is 30.62%.

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.