American Financial Group (NYSE:AFG) Reaches New 12-Month High – Still a Buy?

Shares of American Financial Group, Inc. (NYSE:AFG) reached a new 52-week high during trading on Friday . The stock traded as high as $138.11 and last traded at $138.05, with a volume of 137751 shares changing hands. The stock had previously closed at $134.58.

Analyst Upgrades and Downgrades

Separately, Citigroup lowered shares of American Financial Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $144.00 to $137.00 in a research report on Friday, June 28th.

American Financial Group Trading Up 3.0 %

The company’s 50-day moving average price is $131.95 and its 200-day moving average price is $129.57. The firm has a market cap of $11.63 billion, a price-to-earnings ratio of 13.27 and a beta of 0.78. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.34.

American Financial Group (NYSE:AFG) last announced its 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. American Financial Group had a net margin of 11.06% and a return on equity of 21.16%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the business earned $2.38 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts expect that American Financial Group, Inc. will post 10.96 EPS for the current fiscal year.

American Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Tuesday, October 15th will be given a $0.80 dividend. This is a positive change from American Financial Group’s previous quarterly dividend of $0.71. The ex-dividend date is Tuesday, October 15th. This represents a $3.20 annualized dividend and a dividend yield of 2.31%. American Financial Group’s dividend payout ratio (DPR) is 30.62%.

Hedge Funds Weigh In On American Financial Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in American Financial Group by 13.3% during 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. Hengehold Capital Management LLC boosted its position in American Financial Group by 40.0% during the first quarter. Hengehold Capital Management LLC now owns 25,532 shares of the insurance provider’s stock worth $3,485,000 after acquiring an additional 7,295 shares during the last quarter. Vident Advisory LLC boosted its position in American Financial Group by 360.7% during the first quarter. Vident Advisory LLC now owns 27,155 shares of the insurance provider’s stock worth $3,706,000 after acquiring an additional 21,261 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in American Financial Group by 3.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 648,878 shares of the insurance provider’s stock worth $77,145,000 after acquiring an additional 18,945 shares during the last quarter. Finally, Norden Group LLC acquired a new position in American Financial Group during the first quarter worth about $885,000. 64.37% of the stock is currently owned by institutional investors and hedge funds.

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.