American Financial Group (NYSE:AFG) Hits New 52-Week High Following Dividend Announcement

American Financial Group, Inc. (NYSE:AFG)’s stock price reached a new 52-week high on Wednesday following a dividend announcement from the company. The stock traded as high as $140.00 and last traded at $140.00, with a volume of 1399 shares changing hands. The stock had previously closed at $127.44.

The newly announced dividend which will be paid on Tuesday, November 26th. Shareholders of record on Friday, November 15th will be given a dividend of $4.00 per share. This is an increase from American Financial Group’s previous None dividend of $1.00. The ex-dividend date of this dividend is Friday, November 15th. American Financial Group’s payout ratio is presently 29.99%.

Wall Street Analysts Forecast Growth

Separately, 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 3.4 %

The company has a market capitalization of $11.64 billion, a P/E ratio of 13.01 and a beta of 0.79. The company has a 50-day moving average of $133.99 and a two-hundred day moving average of $129.81. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.34.

American Financial Group (NYSE:AFG) last announced its quarterly earnings data on Tuesday, November 5th. The insurance provider reported $2.31 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.20). The firm had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.80 billion. American Financial Group had a net margin of 10.84% and a return on equity of 20.45%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.45 EPS. On average, research analysts predict that American Financial Group, Inc. will post 10.98 EPS for the current year.

Hedge Funds Weigh In On American Financial Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its stake in shares of American Financial Group by 59.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the insurance provider’s stock worth $201,000 after buying an additional 547 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of American Financial Group by 11.5% during the first quarter. Nordea Investment Management AB now owns 4,832 shares of the insurance provider’s stock valued at $662,000 after acquiring an additional 498 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of American Financial Group by 2.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 4,674 shares of the insurance provider’s stock worth $638,000 after purchasing an additional 100 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in American Financial Group by 691.7% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,148 shares of the insurance provider’s stock worth $157,000 after purchasing an additional 1,003 shares in the last quarter. Finally, Texas Permanent School Fund Corp boosted its stake in American Financial Group by 1.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 57,094 shares of the insurance provider’s stock worth $7,792,000 after purchasing an additional 643 shares in the last quarter. Institutional investors own 64.37% of the company’s stock.

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.