Archvest Wealth Advisors Inc. Invests $799,000 in American Financial Group, Inc. $AFG

Archvest Wealth Advisors Inc. acquired a new stake in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 6,333 shares of the insurance provider's stock, valued at approximately $799,000.

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A number of other hedge funds also recently bought and sold shares of AFG. Hantz Financial Services Inc. lifted its stake in American Financial Group by 421.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 198 shares of the insurance provider's stock worth $25,000 after purchasing an additional 160 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of American Financial Group in the second quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new position in American Financial Group during the first quarter worth approximately $34,000. Headlands Technologies LLC acquired a new position in American Financial Group during the first quarter worth $55,000. Finally, IFP Advisors Inc boosted its stake in American Financial Group by 86.7% during the second quarter. IFP Advisors Inc now owns 422 shares of the insurance provider's stock worth $57,000 after buying an additional 196 shares during the last quarter. Institutional investors and hedge funds own 64.37% of the company's stock.

American Financial Group Stock Up 0.3%

Shares of NYSE:AFG opened at $137.20 on Friday. The company has a market capitalization of $11.44 billion, a price-to-earnings ratio of 15.08 and a beta of 0.78. American Financial Group, Inc. has a 12-month low of $114.73 and a 12-month high of $150.19. The business has a 50-day moving average price of $139.05 and a 200 day moving average price of $131.56. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.33.

American Financial Group (NYSE:AFG - Get Free Report) last announced its earnings results on Wednesday, November 5th. The insurance provider reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.34. American Financial Group had a net margin of 9.21% and a return on equity of 17.41%. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same quarter last year, the firm posted $2.31 earnings per share. American Financial Group's revenue was up 13.4% compared to the same quarter last year. Sell-side analysts expect that American Financial Group, Inc. will post 10.5 EPS for the current year.

American Financial Group Announces Dividend

The company also recently announced a special dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th will be given a $2.00 dividend. The ex-dividend date of this dividend is Monday, November 17th. American Financial Group's payout ratio is presently 36.97%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AFG shares. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of American Financial Group in a research note on Wednesday. Wall Street Zen raised shares of American Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Keefe, Bruyette & Woods cut their price objective on shares of American Financial Group from $127.00 to $124.00 and set a "market perform" rating for the company in a research report on Tuesday, August 12th. Piper Sandler lifted their target price on shares of American Financial Group from $130.00 to $139.00 and gave the stock a "neutral" rating in a research note on Thursday, November 6th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $142.00 price target on shares of American Financial Group in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $135.00.

Read Our Latest Research Report on AFG

Insider Buying and Selling

In other American Financial Group news, CFO Brian S. Hertzman sold 1,777 shares of the company's stock in a transaction on Friday, November 7th. The stock was sold at an average price of $142.51, for a total transaction of $253,240.27. Following the transaction, the chief financial officer directly owned 11,300 shares in the company, valued at $1,610,363. This represents a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 17.40% of the stock is owned by company insiders.

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.

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