Horan Securities Inc. lifted its holdings in shares of American Financial Group, Inc. (NYSE:AFG – Get Rating) by 6.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,337 shares of the insurance provider's stock after acquiring an additional 135 shares during the period. Horan Securities Inc.'s holdings in American Financial Group were worth $305,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. Great Valley Advisor Group Inc. purchased a new position in shares of American Financial Group during the second quarter worth approximately $278,000. Ritholtz Wealth Management grew its position in shares of American Financial Group by 16.3% during the second quarter. Ritholtz Wealth Management now owns 3,690 shares of the insurance provider's stock worth $512,000 after acquiring an additional 516 shares during the last quarter. Private Advisor Group LLC grew its position in shares of American Financial Group by 4.1% during the second quarter. Private Advisor Group LLC now owns 3,790 shares of the insurance provider's stock worth $526,000 after acquiring an additional 151 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of American Financial Group by 56.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 3,324 shares of the insurance provider's stock worth $461,000 after acquiring an additional 1,203 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of American Financial Group by 35.7% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,046 shares of the insurance provider's stock worth $700,000 after acquiring an additional 1,327 shares during the last quarter. 69.11% of the stock is currently owned by hedge funds and other institutional investors.
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Analyst Ratings Changes
Separately, Morgan Stanley dropped their price objective on shares of American Financial Group from $147.00 to $146.00 and set an "equal weight" rating on the stock in a research note on Friday, August 19th.
American Financial Group Price Performance
NYSE:AFG traded up $0.78 during trading hours on Tuesday, hitting $120.84. The company's stock had a trading volume of 7,877 shares, compared to its average volume of 325,239. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.44 and a current ratio of 0.44. American Financial Group, Inc. has a 52-week low of $119.01 and a 52-week high of $152.29. The company has a market capitalization of $10.29 billion, a PE ratio of 9.92 and a beta of 0.82. The business's 50-day moving average is $130.56 and its two-hundred day moving average is $137.13.
American Financial Group (NYSE:AFG – Get Rating) last released its quarterly earnings data on Wednesday, August 3rd. The insurance provider reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.61. American Financial Group had a return on equity of 23.56% and a net margin of 15.53%. During the same period in the prior year, the company posted $2.39 earnings per share. As a group, research analysts anticipate that American Financial Group, Inc. will post 11.55 EPS for the current fiscal year.
American Financial Group Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 25th. Investors of record on Friday, July 15th were given a $0.56 dividend. The ex-dividend date of this dividend was Thursday, July 14th. This represents a $2.24 annualized dividend and a dividend yield of 1.85%. American Financial Group's dividend payout ratio is presently 18.51%.
American Financial Group Company Profile
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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.
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