American Financial Group, Inc. $AFG Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in American Financial Group, Inc. by 50.9% in Q2, owning 307,874 shares valued at $38.86 million. Other institutional investors also adjusted their holdings. The stock has a 'Hold' rating with a $135 average price target. American Financial Group's recent earnings exceeded expectations, with a reported EPS of $2.69.

JPMorgan Chase & Co. grew its position in American Financial Group, Inc. (NYSE:AFG - Free Report) by 50.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 307,874 shares of the insurance provider's stock after acquiring an additional 103,826 shares during the period. JPMorgan Chase & Co. owned about 0.37% of American Financial Group worth $38,857,000 at the end of the most recent quarter.

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A number of other hedge funds have also recently added to or reduced their stakes in AFG. Charles Schwab Investment Management Inc. raised its stake in shares of American Financial Group by 395.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,520,714 shares of the insurance provider's stock worth $331,071,000 after buying an additional 2,012,027 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of American Financial Group by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 983,398 shares of the insurance provider's stock valued at $129,147,000 after buying an additional 14,265 shares in the last quarter. Northern Trust Corp grew its holdings in American Financial Group by 2.4% during the first quarter. Northern Trust Corp now owns 820,955 shares of the insurance provider's stock worth $107,824,000 after acquiring an additional 18,886 shares during the period. Goldman Sachs Group Inc. grew its holdings in American Financial Group by 8.3% during the first quarter. Goldman Sachs Group Inc. now owns 707,682 shares of the insurance provider's stock worth $92,947,000 after acquiring an additional 54,204 shares during the period. Finally, Bahl & Gaynor Inc. raised its position in American Financial Group by 10.2% in the first quarter. Bahl & Gaynor Inc. now owns 645,466 shares of the insurance provider's stock worth $84,776,000 after acquiring an additional 59,715 shares in the last quarter. Institutional investors and hedge funds own 64.37% of the company's stock.

Insider Activity

In other 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 value of $253,240.27. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 17.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AFG shares. Keefe, Bruyette & Woods decreased their target price on shares of American Financial Group from $127.00 to $124.00 and set a "market perform" rating on the stock in a research report on Tuesday, August 12th. Wall Street Zen raised shares of American Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Piper Sandler upped 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 report on Thursday, November 6th. Jefferies Financial Group reiterated a "hold" rating and set a $142.00 price target on shares of American Financial Group in a research report on Tuesday, November 11th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of American Financial Group in a research note on Tuesday, November 25th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, American Financial Group has an average rating of "Hold" and an average price target of $135.00.

Read Our Latest Report on AFG

American Financial Group Stock Down 1.7%

Shares of NYSE AFG opened at $135.32 on Tuesday. The firm's 50-day moving average is $138.61 and its two-hundred day moving average is $132.28. The company has a market capitalization of $11.29 billion, a PE ratio of 14.87 and a beta of 0.78. American Financial Group, Inc. has a 12-month low of $114.73 and a 12-month high of $150.02. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.47 and a quick ratio of 0.47.

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

American Financial Group Dividend Announcement

The business also recently declared a special dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th were issued a $2.00 dividend. The ex-dividend date of this dividend was Monday, November 17th. American Financial Group's payout ratio is 36.97%.

About American Financial Group

(Free Report)

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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