Insider Buying: American Financial Group, Inc. (NYSE:AFG) Director Buys $363,000.00 in Stock

American Financial Group, Inc. (NYSE:AFG) Director Gregory G. Joseph bought 3,000 shares of the stock in a transaction on Thursday, February 20th. The shares were acquired at an average cost of $121.00 per share, for a total transaction of $363,000.00. Following the completion of the transaction, the director now directly owns 57,477 shares of the company’s stock, valued at approximately $6,954,717. The trade was a 5.51 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

American Financial Group Trading Up 0.4 %

Shares of NYSE:AFG opened at $122.97 on Thursday. 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 50-day moving average is $132.13 and its 200-day moving average is $134.58. The company has a market cap of $10.32 billion, a P/E ratio of 11.63 and a beta of 0.83. American Financial Group, Inc. has a 52-week low of $118.97 and a 52-week high of $150.19.

American Financial Group (NYSE:AFG) last announced its earnings results on Tuesday, February 4th. The insurance provider reported $3.12 earnings per share for the quarter, missing the consensus estimate of $3.15 by ($0.03). American Financial Group had a net margin of 10.66% and a return on equity of 20.30%. Equities research analysts predict that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Tuesday, January 14th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Tuesday, January 14th. American Financial Group’s dividend payout ratio (DPR) is currently 30.27%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AFG. BMO Capital Markets upped their price target 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 upped their target price 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. Finally, Keefe, Bruyette & Woods downgraded American Financial Group from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $164.00 to $144.00 in a report on Friday, February 7th.

Hedge Funds Weigh In On American Financial Group

Large investors have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. raised its position in shares of American Financial Group by 2.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 151,771 shares of the insurance provider’s stock valued at $20,782,000 after buying an additional 3,911 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in American Financial Group by 55.2% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,837 shares of the insurance provider’s stock valued at $1,073,000 after acquiring an additional 2,789 shares during the period. JPMorgan Chase & Co. raised its holdings in American Financial Group by 78.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 333,078 shares of the insurance provider’s stock valued at $44,832,000 after acquiring an additional 146,237 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of American Financial Group by 17.4% in the 3rd quarter. Franklin Resources Inc. now owns 49,796 shares of the insurance provider’s stock worth $6,833,000 after acquiring an additional 7,365 shares during the period. Finally, Argent Capital Management LLC grew its holdings in shares of American Financial Group by 9.8% during the 4th quarter. Argent Capital Management LLC now owns 31,362 shares of the insurance provider’s stock worth $4,294,000 after purchasing an additional 2,787 shares in the last quarter. 64.37% of the stock is currently owned by institutional investors and hedge funds.

About American Financial Group

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.