CIBC Asset Management Inc Buys 141 Shares of American Financial Group, Inc. (NYSE:AFG)

CIBC Asset Management Inc lifted its stake in American Financial Group, Inc. (NYSE:AFG) by 3.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,691 shares of the insurance provider’s stock after purchasing an additional 141 shares during the quarter. CIBC Asset Management Inc’s holdings in American Financial Group were worth $631,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AFG. Oppenheimer & Co. Inc. raised its stake in American Financial Group by 4.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 2,165 shares of the insurance provider’s stock worth $291,000 after acquiring an additional 83 shares during the period. Sei Investments Co. boosted its holdings in American Financial Group by 0.3% in the 2nd quarter. Sei Investments Co. now owns 26,059 shares of the insurance provider’s stock worth $3,206,000 after buying an additional 86 shares during the period. Diversified Trust Co increased its stake in American Financial Group by 5.0% in the 2nd quarter. Diversified Trust Co now owns 2,105 shares of the insurance provider’s stock worth $259,000 after buying an additional 100 shares in the last quarter. Verdence Capital Advisors LLC grew its position in shares of American Financial Group by 6.3% during the third quarter. Verdence Capital Advisors LLC now owns 2,100 shares of the insurance provider’s stock worth $283,000 after purchasing an additional 125 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in American Financial Group by 44.3% in the 2nd quarter. Blue Trust Inc. now owns 433 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 133 shares in the last quarter. 64.37% of the stock is owned by hedge funds and other institutional investors.

American Financial Group Price Performance

American Financial Group stock opened at $140.85 on Thursday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.31. American Financial Group, Inc. has a 12-month low of $109.07 and a 12-month high of $144.81. The firm has a market capitalization of $11.82 billion, a PE ratio of 13.20 and a beta of 0.79. The firm has a 50-day moving average price of $135.06 and a 200-day moving average price of $130.53.

American Financial Group (NYSE:AFG) last released its earnings results on Tuesday, November 5th. The insurance provider reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). The business had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.80 billion. American Financial Group had a return on equity of 19.97% and a net margin of 10.84%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.45 EPS. As a group, equities research analysts forecast that American Financial Group, Inc. will post 10.88 EPS for the current year.

American Financial Group Increases Dividend

The business also recently announced a None dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Friday, November 15th will be paid a $4.00 dividend. This is an increase from American Financial Group’s previous None dividend of $1.00. The ex-dividend date is Friday, November 15th. American Financial Group’s dividend payout ratio is currently 29.99%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of American Financial Group from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. BMO Capital Markets lifted their target price on American Financial Group from $135.00 to $143.00 and gave the stock a “market perform” rating in a report on Friday, November 15th.

American Financial Group Company 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.