Reinhart Partners LLC. Has $10.33 Million Stake in American Financial Group, Inc. (NYSE:AFG)

Reinhart Partners LLC. reduced its position in shares of American Financial Group, Inc. (NYSE:AFG) by 8.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,725 shares of the insurance provider’s stock after selling 7,482 shares during the quarter. Reinhart Partners LLC. owned 0.09% of American Financial Group worth $10,327,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Bank of Montreal Can raised its position in American Financial Group by 251.1% during the second quarter. Bank of Montreal Can now owns 147,892 shares of the insurance provider’s stock valued at $19,442,000 after buying an additional 105,764 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of American Financial Group during the fourth quarter worth approximately $7,133,000. Lord Abbett & CO. LLC grew its position in American Financial Group by 13.4% during the first quarter. Lord Abbett & CO. LLC now owns 396,355 shares of the insurance provider’s stock valued at $54,095,000 after purchasing an additional 46,702 shares in the last quarter. Bahl & Gaynor Inc. increased its stake in American Financial Group by 8.6% in the 2nd quarter. Bahl & Gaynor Inc. now owns 492,021 shares of the insurance provider’s stock valued at $60,528,000 after buying an additional 38,937 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in American Financial Group by 302.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 51,509 shares of the insurance provider’s stock worth $6,337,000 after buying an additional 38,718 shares in the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Citigroup cut shares of American Financial Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $144.00 to $137.00 in a report on Friday, June 28th. BMO Capital Markets upped their target price on American Financial Group from $132.00 to $135.00 and gave the stock a “market perform” rating in a research report on Tuesday.

American Financial Group Stock Up 0.0 %

American Financial Group stock opened at $135.91 on Friday. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.34. American Financial Group, Inc. has a 1-year low of $105.22 and a 1-year high of $138.81. The firm’s fifty day simple moving average is $132.60 and its 200-day simple moving average is $129.70. The company has a market capitalization of $11.40 billion, a P/E ratio of 13.01 and a beta of 0.78.

American Financial Group (NYSE:AFG) last issued its quarterly earnings data on Tuesday, August 6th. The insurance provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.11. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.72 billion. American Financial Group had a return on equity of 21.16% and a net margin of 11.06%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $2.38 EPS. Sell-side analysts forecast that American Financial Group, Inc. will post 10.99 earnings per share for the current fiscal year.

American Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Tuesday, October 15th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Tuesday, October 15th. This is an increase from American Financial Group’s previous quarterly dividend of $0.71. American Financial Group’s dividend payout ratio (DPR) is 30.62%.

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.