Pallas Capital Advisors LLC boosted its stake in shares of American Financial Group, Inc. (NYSE:AFG – Free Report) by 77.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,594 shares of the insurance provider’s stock after acquiring an additional 5,075 shares during the quarter. Pallas Capital Advisors LLC’s holdings in American Financial Group were worth $1,396,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Machina Capital S.A.S. bought a new stake in shares of American Financial Group in the 1st quarter worth about $26,000. Raleigh Capital Management Inc. boosted its position in American Financial Group by 219.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 201 shares of the insurance provider’s stock valued at $28,000 after buying an additional 138 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in American Financial Group during the fourth quarter worth about $29,000. Money Concepts Capital Corp acquired a new stake in shares of American Financial Group during the fourth quarter worth approximately $35,000. Finally, Parallel Advisors LLC raised its stake in shares of American Financial Group by 372.1% in the first quarter. Parallel Advisors LLC now owns 321 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 253 shares during the last quarter. 63.42% of the stock is owned by institutional investors.
Analysts Set New Price Targets
AFG has been the subject of a number of recent analyst reports. StockNews.com assumed coverage on American Financial Group in a report on Thursday, May 18th. They set a “hold” rating for the company. Piper Sandler lowered their target price on American Financial Group from $162.00 to $150.00 in a research note on Thursday, July 6th.
Insider Buying and Selling
In other American Financial Group news, Director Terry S. Jacobs sold 761 shares of American Financial Group stock in a transaction on Monday, June 12th. The shares were sold at an average price of $115.84, for a total transaction of $88,154.24. Following the completion of the sale, the director now owns 7,500 shares of the company’s stock, valued at approximately $868,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other American Financial Group news, Director Terry S. Jacobs sold 761 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $115.84, for a total transaction of $88,154.24. Following the transaction, the director now owns 7,500 shares in the company, valued at $868,800. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Lehman John I. Von sold 1,479 shares of the business’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $117.39, for a total value of $173,619.81. Following the transaction, the director now owns 14,116 shares of the company’s stock, valued at $1,657,077.24. The disclosure for this sale can be found here. 14.60% of the stock is currently owned by insiders.
American Financial Group Stock Up 1.4 %
Shares of AFG opened at $119.76 on Friday. The business’s fifty day moving average price is $116.44 and its two-hundred day moving average price is $124.27. The firm has a market capitalization of $10.20 billion, a price-to-earnings ratio of 12.45 and a beta of 0.82. American Financial Group, Inc. has a 52 week low of $111.54 and a 52 week high of $150.98. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.42 and a current ratio of 0.42.
American Financial Group (NYSE:AFG – Get Free Report) last issued its quarterly earnings results on Tuesday, May 2nd. The insurance provider reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.88 by $0.01. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.57 billion. American Financial Group had a return on equity of 23.44% and a net margin of 11.40%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.56 earnings per share. On average, analysts predict that American Financial Group, Inc. will post 11.52 earnings per share for the current year.
American Financial Group Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 25th. Stockholders of record on Friday, July 14th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Thursday, July 13th. American Financial Group’s dividend payout ratio is 26.20%.
About American Financial Group
American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. It 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.
See Also
Want to see what other hedge funds are holding AFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Financial Group, Inc. (NYSE:AFG – Free Report).
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