iA Global Asset Management Inc. Makes New Investment in American Financial Group, Inc. (NYSE:AFG)

iA Global Asset Management Inc. acquired a new stake in American Financial Group, Inc. (NYSE:AFG) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 930 shares of the insurance provider’s stock, valued at approximately $125,000.

Several other institutional investors have also recently modified their holdings of the company. Innealta Capital LLC acquired a new position in American Financial Group in the 2nd quarter worth approximately $30,000. Headlands Technologies LLC acquired a new stake in American Financial Group during the 2nd quarter valued at approximately $38,000. Blue Trust Inc. boosted its holdings in shares of American Financial Group by 44.3% in the 2nd quarter. Blue Trust Inc. now owns 433 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 133 shares during the last quarter. nVerses Capital LLC increased its stake in shares of American Financial Group by 200.0% in the second quarter. nVerses Capital LLC now owns 600 shares of the insurance provider’s stock worth $74,000 after acquiring an additional 400 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in American Financial Group during the 2nd quarter worth about $85,000. 64.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AFG. 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 report on Friday, November 15th. Piper Sandler upped their price objective on 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 Price Performance

NYSE:AFG opened at $139.20 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.31. American Financial Group, Inc. has a 52 week low of $115.45 and a 52 week high of $150.19. The stock’s 50-day moving average price is $137.83 and its 200-day moving average price is $131.95. The stock has a market capitalization of $11.68 billion, a PE ratio of 13.05 and a beta of 0.82.

American Financial Group (NYSE:AFG) last issued 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 business 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%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.45 earnings per share. As a group, equities analysts expect that American Financial Group, Inc. will post 10.73 EPS for the current fiscal year.

American Financial Group Increases Dividend

The business also recently declared a None dividend, which was paid on Tuesday, November 26th. Investors 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 payout ratio is presently 29.99%.

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.