American Financial Group, Inc. (NYSE:AFG) Brief Interest Update
American Financial Group, Inc. (NYSE:AFG – Get Rating) benefited from a significant drop in short-term interest rates in July. As of July 31, there was short interest totaling 822,400 shares, down 18.6% from the July 15 total of 1,010,000 shares. Based on an average trading volume of 377,300 shares, the day-to-cover ratio is currently 2.2 days. Currently, 1.0% of the company’s shares are sold short.
Insider buying and selling at American Financial Group
Separately, director Terry S. Jacobs sold 293 shares of the company in a trade dated Thursday, June 2. The shares were sold at an average price of $140.03, for a total transaction of $41,028.79. Following the transaction, the administrator now owns 6,850 shares of the company, valued at $959,205.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. Company insiders hold 14.60% of the company’s shares.
Institutional entries and exits
Several hedge funds and other institutional investors have recently changed their positions in AFG. Bishop Rock Capital LP increased its position in American Financial Group by 5,124.6% during the second quarter. Bishop Rock Capital LP now owns 5,607,646 shares of the insurance provider valued at $40,398,000 after purchasing an additional 5,500,315 shares during the period. Vanguard Group Inc. increased its position in American Financial Group by 4.3% during the first quarter. Vanguard Group Inc. now owns 7,544,354 shares of the insurance provider valued at $1,098,609,000 after purchasing an additional 313,115 shares during the period. Lord Abbett & CO. LLC increased its position in American Financial Group by 15.0% during the first quarter. Lord Abbett & CO. LLC now owns 2,051,853 shares of the insurance provider valued at $298,791,000 after purchasing an additional 266,859 shares during the period. Point72 Asset Management LP increased its position in American Financial Group by 213.2% during the fourth quarter. Point72 Asset Management LP now owns 372,177 shares of the insurance provider valued at $51,107,000 after purchasing an additional 253,337 shares during the period. Finally, State Street Corp increased its position in American Financial Group by 5.5% during the fourth quarter. State Street Corp now owns 2,940,094 shares of the insurance provider valued at $403,734,000 after purchasing an additional 152,866 shares during the period. Institutional investors hold 64.93% of the company’s shares.
Wall Street analysts predict growth
Several stock analysts have recently released reports on the stock. Morgan Stanley assumed coverage for American Financial Group stocks in a Friday, July 15 research report. They set an “equal weight” rating and a price target of $147.00 on the stock. Keefe, Bruyette & Woods raised their price target on American Financial Group stock to $178.00 and gave the stock an “na” rating in a Monday, May 16 report.
US Financial Group Price Performance
AFG shares opened at $134.77 on Friday. The stock has a market capitalization of $11.48 billion, a PE ratio of 11.14 and a beta of 0.81. The company has a debt ratio of 0.38, a quick ratio of 0.45 and a current ratio of 0.44. American Financial Group has a fifty-two week low of $122.71 and a fifty-two week high of $152.29. The company’s 50-day simple moving average is $134.40 and its two-hundred-day simple moving average is $138.06.
American Financial Group (NYSE:AFG – Get Rating) last released its results on Wednesday, August 3. The insurance provider reported earnings per share (EPS) of $2.85 for the quarter, beating the consensus estimate of $2.24 by $0.61. American Financial Group achieved a net margin of 15.53% and a return on equity of 23.56%. During the same period of the previous year, the company achieved EPS of $2.39. Analysts expect American Financial Group to post earnings per share of 11.44 for the current fiscal year.
The American financial group cuts its dividends
The company also recently announced a quarterly dividend, which was paid on Monday, July 25. Shareholders of record on Friday, July 15 received a dividend of $0.56. The ex-dividend date was Thursday, July 14. This represents an annualized dividend of $2.24 and a dividend yield of 1.66%. American Financial Group’s dividend payout ratio is currently 18.51%.
About the American financial group
(Get a rating)
American Financial Group, Inc, an insurance holding company, offers 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, agriculture-related products and other property coverage. commercial and specialized transportation; specialty casualty insurance, including primarily excess and excess, executive and professional liability, general liability, excess and excess liability insurance, and specialty coverage in targeted markets, as well as customized programs for small and medium enterprises and workers’ compensation insurance; and specialized financial insurance products including risk management insurance programs for credit and leasing institutions, loyalty and bonding products, and trade credit insurance.
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