Highland Capital Management LLC Grows Holdings in American Financial Group, Inc. (NYSE:AFG)

Highland Capital Management LLC increased its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 6.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,746 shares of the insurance provider’s stock after purchasing an additional 107 shares during the period. Highland Capital Management LLC’s holdings in American Financial Group were worth $239,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in shares of American Financial Group by 78.3% during the third quarter. JPMorgan Chase & Co. now owns 333,078 shares of the insurance provider’s stock worth $44,832,000 after buying an additional 146,237 shares during the period. Franklin Resources Inc. grew its position in American Financial Group by 17.4% in the 3rd quarter. Franklin Resources Inc. now owns 49,796 shares of the insurance provider’s stock valued at $6,833,000 after acquiring an additional 7,365 shares in the last quarter. Quest Partners LLC increased its stake in American Financial Group by 166.1% during the third quarter. Quest Partners LLC now owns 7,078 shares of the insurance provider’s stock worth $953,000 after purchasing an additional 4,418 shares during the period. Argent Capital Management LLC lifted its position in shares of American Financial Group by 9.8% during the fourth quarter. Argent Capital Management LLC now owns 31,362 shares of the insurance provider’s stock worth $4,294,000 after purchasing an additional 2,787 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of American Financial Group by 10.2% during the third quarter. Geode Capital Management LLC now owns 1,553,207 shares of the insurance provider’s stock worth $208,699,000 after purchasing an additional 143,820 shares in the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods cut their target price on shares of American Financial Group from $165.00 to $164.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Piper Sandler boosted their price target on shares of American Financial Group from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Finally, BMO Capital Markets increased their price objective on American Financial Group from $135.00 to $143.00 and gave the company a “market perform” rating in a research note on Friday, November 15th.

American Financial Group Stock Down 1.1 %

Shares of NYSE:AFG opened at $136.66 on Friday. American Financial Group, Inc. has a fifty-two week low of $115.64 and a fifty-two week high of $150.19. The firm’s 50 day moving average price is $138.13 and its 200 day moving average price is $134.69. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.31. The stock has a market cap of $11.47 billion, a price-to-earnings ratio of 12.81 and a beta of 0.83.

American Financial Group (NYSE:AFG) last released its quarterly earnings data on Tuesday, November 5th. The insurance provider reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.20). The firm had revenue of $2.06 billion for 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%. American Financial Group’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the firm posted $2.45 earnings per share. As a group, equities research analysts predict that American Financial Group, Inc. will post 10.83 earnings per share for the current fiscal year.

American Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Tuesday, January 14th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, January 14th. This represents a $3.20 annualized dividend and a dividend yield of 2.34%. American Financial Group’s dividend payout ratio is currently 29.99%.

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.