Martingale Asset Management L P Purchases 259 Shares of American Financial Group, Inc. (NYSE:AFG)

Martingale Asset Management L P boosted its holdings in American Financial Group, Inc. (NYSE:AFG) by 13.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,155 shares of the insurance provider’s stock after buying an additional 259 shares during the quarter. Martingale Asset Management L P’s holdings in American Financial Group were worth $290,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in AFG. Oppenheimer & Co. Inc. raised its stake in shares of American Financial Group by 4.0% during 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 last quarter. Sei Investments Co. raised its position in American Financial Group by 0.3% during the 2nd quarter. Sei Investments Co. now owns 26,059 shares of the insurance provider’s stock worth $3,206,000 after purchasing an additional 86 shares during the last quarter. Diversified Trust Co lifted its holdings in American Financial Group by 5.0% during the 2nd quarter. Diversified Trust Co now owns 2,105 shares of the insurance provider’s stock worth $259,000 after buying an additional 100 shares during the period. Verdence Capital Advisors LLC grew its position in shares of American Financial Group by 6.3% in the 3rd 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 last quarter. Finally, Blue Trust Inc. increased its stake in shares of 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 during the period. 64.37% of the stock is currently owned by institutional investors and hedge funds.

American Financial Group Price Performance

Shares of AFG opened at $142.03 on Wednesday. The business’s 50 day moving average price is $137.13 and its two-hundred day moving average price is $131.55. The firm has a market cap of $11.92 billion, a PE ratio of 13.31 and a beta of 0.82. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.53 and a current ratio of 0.53. American Financial Group, Inc. has a 52-week low of $114.73 and a 52-week high of $150.19.

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 analysts’ consensus estimates of $2.51 by ($0.20). American Financial Group had a return on equity of 19.97% and a net margin of 10.84%. The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the business posted $2.45 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities analysts anticipate that American Financial Group, Inc. will post 10.73 EPS for the current year.

American Financial Group Increases Dividend

The company also recently declared a None dividend, which was paid on Tuesday, November 26th. Shareholders of record on Friday, November 15th were issued a $4.00 dividend. 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 is presently 29.99%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AFG shares. BMO Capital Markets lifted their price objective on American Financial Group from $135.00 to $143.00 and gave the stock a “market perform” rating in a research note on Friday, November 15th. Piper Sandler increased their price objective on shares of American Financial Group from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th.

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.