American Financial Group, Inc. (NYSE:AFG) Stake Increased by Franklin Resources Inc.

Franklin Resources Inc. raised its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 17.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,796 shares of the insurance provider’s stock after acquiring an additional 7,365 shares during the quarter. Franklin Resources Inc. owned approximately 0.06% of American Financial Group worth $6,833,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its holdings in shares of American Financial Group by 6.4% in the 2nd quarter. Raymond James & Associates now owns 16,157 shares of the insurance provider’s stock valued at $1,988,000 after buying an additional 969 shares during the period. Bank of New York Mellon Corp raised its position in shares of American Financial Group by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 836,619 shares of the insurance provider’s stock worth $102,921,000 after purchasing an additional 7,797 shares during the period. Burney Co. lifted its holdings in shares of American Financial Group by 6.5% in the 2nd quarter. Burney Co. now owns 25,773 shares of the insurance provider’s stock worth $3,171,000 after purchasing an additional 1,578 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in American Financial Group by 3.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,511 shares of the insurance provider’s stock valued at $1,662,000 after purchasing an additional 492 shares during the period. Finally, Innealta Capital LLC bought a new position in American Financial Group during the 2nd quarter worth $30,000. 64.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

American Financial Group Stock Up 0.4 %

Shares of American Financial Group stock opened at $136.98 on Monday. American Financial Group, Inc. has a 1-year low of $115.64 and a 1-year high of $150.19. The company has a market capitalization of $11.50 billion, a P/E ratio of 12.84 and a beta of 0.82. The business’s fifty day moving average price is $138.17 and its two-hundred day moving average price is $132.53. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.53 and a quick ratio of 0.53.

American Financial Group (NYSE:AFG) last posted its quarterly earnings data on Tuesday, November 5th. The insurance provider reported $2.31 earnings per share 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 return on equity of 19.97% and a net margin of 10.84%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.45 EPS. As a group, research analysts forecast that American Financial Group, Inc. will post 10.73 EPS for the current year.

American Financial Group Increases Dividend

The business also recently disclosed a None dividend, which was paid on Tuesday, November 26th. Investors of record on Friday, November 15th were paid a dividend of $4.00 per share. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from American Financial Group’s previous None dividend of $1.00. American Financial Group’s dividend payout ratio (DPR) is currently 29.99%.

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.