American Financial Group (NYSE:AFG) Hits New 1-Year High Following Dividend Announcement

American Financial Group, Inc. (NYSE:AFG) shares hit a new 52-week high during trading on Wednesday following a dividend announcement from the company. The stock traded as high as $140.00 and last traded at $140.00, with a volume of 1399 shares changing hands. The stock had previously closed at $127.44.

The newly announced dividend which will be paid on Tuesday, November 26th. Investors of record on Friday, November 15th will be given a $4.00 dividend. The ex-dividend date is Friday, November 15th. This is a boost from American Financial Group’s previous None dividend of $1.00. American Financial Group’s dividend payout ratio is 29.99%.

Analyst Ratings Changes

Separately, BMO Capital Markets lifted their target price on American Financial Group from $132.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, October 8th.

American Financial Group Stock Performance

The business’s fifty day moving average price is $133.99 and its 200-day moving average price is $129.81. The stock has a market cap of $11.64 billion, a PE ratio of 13.01 and a beta of 0.79. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.46 and a current ratio of 0.46.

American Financial Group (NYSE:AFG) last issued its earnings results 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 company 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 20.45% and a net margin of 10.84%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.45 EPS. As a group, equities research analysts forecast that American Financial Group, Inc. will post 10.98 EPS for the current fiscal year.

Institutional Trading of American Financial Group

Several large investors have recently modified their holdings of the company. Innealta Capital LLC purchased a new position in American Financial Group in the second quarter worth about $30,000. Headlands Technologies LLC bought a new position in shares of American Financial Group in the 2nd quarter worth approximately $38,000. Covestor Ltd grew its position in American Financial Group by 402.3% during the first quarter. Covestor Ltd now owns 432 shares of the insurance provider’s stock valued at $59,000 after buying an additional 346 shares during the period. Blue Trust Inc. grew its position in American Financial Group by 44.3% during the second quarter. Blue Trust Inc. now owns 433 shares of the insurance provider’s stock valued at $59,000 after buying an additional 133 shares during the period. Finally, Abich Financial Wealth Management LLC increased its holdings in American Financial Group by 10,460.0% during the first quarter. Abich Financial Wealth Management LLC now owns 528 shares of the insurance provider’s stock valued at $72,000 after buying an additional 523 shares during the last quarter. Institutional investors own 64.37% of the company’s stock.

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.