Brooklyn Investment Group Acquires Shares of 968 American Financial Group, Inc. (NYSE:AFG)

Brooklyn Investment Group acquired a new stake in American Financial Group, Inc. (NYSE:AFG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 968 shares of the insurance provider’s stock, valued at approximately $130,000.

A number of other hedge funds have also recently modified their holdings of AFG. Oppenheimer & Co. Inc. lifted its holdings in American Financial Group by 4.0% in the third quarter. Oppenheimer & Co. Inc. now owns 2,165 shares of the insurance provider’s stock valued at $291,000 after acquiring an additional 83 shares during the period. Sei Investments Co. lifted its stake in shares of American Financial Group by 0.3% in the 2nd quarter. Sei Investments Co. now owns 26,059 shares of the insurance provider’s stock valued at $3,206,000 after purchasing an additional 86 shares during the period. Diversified Trust Co boosted its holdings in American Financial Group by 5.0% during the second quarter. Diversified Trust Co now owns 2,105 shares of the insurance provider’s stock worth $259,000 after buying an additional 100 shares in the last quarter. Verdence Capital Advisors LLC grew its position in American Financial Group by 6.3% during the third quarter. Verdence Capital Advisors LLC now owns 2,100 shares of the insurance provider’s stock valued at $283,000 after buying an additional 125 shares during the period. Finally, Blue Trust Inc. increased its holdings in American Financial Group by 44.3% in 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 in the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.

American Financial Group Stock Performance

Shares of AFG stock opened at $148.06 on Thursday. American Financial Group, Inc. has a fifty-two week low of $110.53 and a fifty-two week high of $150.19. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.53 and a current ratio of 0.53. The stock’s fifty day moving average is $136.42 and its two-hundred day moving average is $131.19. The firm has a market capitalization of $12.43 billion, a P/E ratio of 13.88 and a beta of 0.79.

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). The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.80 billion. American Financial Group had a net margin of 10.84% and a return on equity of 19.97%. American Financial Group’s revenue for the quarter 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. Research analysts expect that American Financial Group, Inc. will post 10.73 earnings per share for the current fiscal year.

American Financial Group Increases Dividend

The company also recently declared a None dividend, which was paid on Tuesday, November 26th. Stockholders of record on Friday, November 15th were given a dividend of $4.00 per share. This is a boost from American Financial Group’s previous None dividend of $1.00. The ex-dividend date was Friday, November 15th. American Financial Group’s payout ratio is presently 29.99%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AFG. Piper Sandler upped their price target on American Financial Group from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. BMO Capital Markets boosted their price objective on American Financial Group from $135.00 to $143.00 and gave the company a “market perform” rating in a research report on Friday, November 15th.

American Financial Group 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.