Tokio Marine Asset Management Co. Ltd. Makes New Investment in American Financial Group, Inc. (NYSE:AFG)

Tokio Marine Asset Management Co. Ltd. purchased a new position in American Financial Group, Inc. (NYSE:AFG) during the third quarter, HoldingsChannel.com reports. The fund purchased 2,129 shares of the insurance provider’s stock, valued at approximately $287,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in American Financial Group by 13.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 37,701 shares of the insurance provider’s stock worth $5,145,000 after acquiring an additional 4,420 shares during the last quarter. Vident Advisory LLC lifted its holdings in shares of American Financial Group by 360.7% in the 1st quarter. Vident Advisory LLC now owns 27,155 shares of the insurance provider’s stock worth $3,706,000 after purchasing an additional 21,261 shares during the last quarter. Edgestream Partners L.P. boosted its position in American Financial Group by 308.5% during the 1st quarter. Edgestream Partners L.P. now owns 24,080 shares of the insurance provider’s stock valued at $3,286,000 after purchasing an additional 18,185 shares during the period. Oak Thistle LLC bought a new position in American Financial Group during the 2nd quarter worth $987,000. Finally, Assenagon Asset Management S.A. increased its position in American Financial Group by 302.7% in the second quarter. Assenagon Asset Management S.A. now owns 51,509 shares of the insurance provider’s stock worth $6,337,000 after buying an additional 38,718 shares during the period. 64.37% of the stock is owned by institutional investors and hedge funds.

American Financial Group Price Performance

Shares of AFG opened at $137.82 on Friday. The firm has a market capitalization of $11.57 billion, a price-to-earnings ratio of 12.92 and a beta of 0.79. The stock’s fifty day moving average is $134.93 and its 200-day moving average is $130.36. American Financial Group, Inc. has a one year low of $108.39 and a one year high of $144.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.46 and a current ratio of 0.53.

American Financial Group (NYSE:AFG) last released its 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 for 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 quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.45 EPS. Equities analysts anticipate that American Financial Group, Inc. will post 10.88 EPS for the current year.

American Financial Group Increases Dividend

The company also recently announced a None dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Friday, November 15th will be given a $4.00 dividend. This is an increase from American Financial Group’s previous None dividend of $1.00. The ex-dividend date is Friday, November 15th. American Financial Group’s dividend payout ratio is 29.99%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AFG. Piper Sandler upped their price target 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. BMO Capital Markets boosted their target price on shares of American Financial Group from $135.00 to $143.00 and gave the company a “market perform” rating in a research note on Friday.

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.