FCG Investment Co Buys Shares of 7,858 American Financial Group, Inc. (NYSE:AFG)

FCG Investment Co bought a new stake in American Financial Group, Inc. (NYSE:AFG) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,858 shares of the insurance provider’s stock, valued at approximately $1,058,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AFG. Allspring Global Investments Holdings LLC boosted its position in shares of American Financial Group by 59.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the insurance provider’s stock worth $201,000 after buying an additional 547 shares during the period. State of Michigan Retirement System raised its holdings in American Financial Group by 1.8% during the first quarter. State of Michigan Retirement System now owns 17,110 shares of the insurance provider’s stock worth $2,335,000 after purchasing an additional 300 shares in the last quarter. Norden Group LLC bought a new stake in American Financial Group during the first quarter worth approximately $885,000. Taylor Frigon Capital Management LLC bought a new stake in American Financial Group during the first quarter worth approximately $1,512,000. Finally, BNP Paribas Financial Markets raised its holdings in American Financial Group by 6.2% during the first quarter. BNP Paribas Financial Markets now owns 62,607 shares of the insurance provider’s stock worth $8,545,000 after purchasing an additional 3,638 shares in the last quarter. 64.37% of the stock is currently owned by institutional investors and hedge funds.

American Financial Group Price Performance

NYSE AFG opened at $129.41 on Monday. The stock has a market capitalization of $10.85 billion, a P/E ratio of 12.38 and a beta of 0.78. American Financial Group, Inc. has a 1 year low of $106.62 and a 1 year high of $138.81. The business’s fifty day moving average is $134.18 and its two-hundred day moving average is $129.66. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.46 and a current ratio of 0.46.

American Financial Group (NYSE:AFG) last posted its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.11. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.72 billion. American Financial Group had a return on equity of 21.16% and a net margin of 11.06%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.38 earnings per share. On average, research analysts forecast that American Financial Group, Inc. will post 10.99 earnings per share for the current fiscal year.

American Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Tuesday, October 15th were paid a dividend of $0.80 per share. This is an increase from American Financial Group’s previous quarterly dividend of $0.71. This represents a $3.20 annualized dividend and a yield of 2.47%. The ex-dividend date was Tuesday, October 15th. American Financial Group’s payout ratio is 30.62%.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets boosted their target price on American Financial Group from $132.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, October 8th.

American Financial Group 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.