Bridges Investment Management Inc. Boosts Stock Position in American Financial Group, Inc. (NYSE:AFG)

Bridges Investment Management Inc. raised its position in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 966.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 70,391 shares of the insurance provider's stock after buying an additional 63,792 shares during the quarter. Bridges Investment Management Inc. owned about 0.08% of American Financial Group worth $9,639,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. UMB Bank n.a. increased its position in shares of American Financial Group by 86.8% during the fourth quarter. UMB Bank n.a. now owns 340 shares of the insurance provider's stock worth $47,000 after purchasing an additional 158 shares in the last quarter. Allworth Financial LP raised its stake in American Financial Group by 301.1% in the fourth quarter. Allworth Financial LP now owns 702 shares of the insurance provider's stock valued at $94,000 after buying an additional 527 shares during the last quarter. iA Global Asset Management Inc. acquired a new stake in American Financial Group in the third quarter worth about $125,000. Brooklyn Investment Group purchased a new stake in shares of American Financial Group during the third quarter worth about $130,000. Finally, GAMMA Investing LLC increased its holdings in shares of American Financial Group by 31.6% during the fourth quarter. GAMMA Investing LLC now owns 1,059 shares of the insurance provider's stock valued at $145,000 after acquiring an additional 254 shares in the last quarter. Hedge funds and other institutional investors own 64.37% of the company's stock.

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Insider Activity at American Financial Group

In other news, Director Gregory G. Joseph acquired 3,000 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average price of $121.00 per share, with a total value of $363,000.00. Following the completion of the acquisition, the director now owns 57,477 shares of the company's stock, valued at $6,954,717. This trade represents a 5.51 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 14.50% of the stock is currently owned by corporate insiders.

American Financial Group Stock Performance

American Financial Group stock traded up $0.99 during midday trading on Wednesday, hitting $126.82. 368,724 shares of the company were exchanged, compared to its average volume of 311,611. The business has a fifty day simple moving average of $131.03 and a two-hundred day simple moving average of $134.53. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market capitalization of $10.65 billion, a PE ratio of 12.00 and a beta of 0.83. American Financial Group, Inc. has a fifty-two week low of $118.97 and a fifty-two week high of $150.19.

American Financial Group (NYSE:AFG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The insurance provider reported $3.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.15 by ($0.03). American Financial Group had a return on equity of 20.30% and a net margin of 10.66%. On average, sell-side analysts forecast that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Announces Dividend

The business also recently announced a special dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 17th will be given a $2.00 dividend. The ex-dividend date of this dividend is Monday, March 17th. American Financial Group's dividend payout ratio (DPR) is 30.27%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. BMO Capital Markets lifted their target price on shares of American Financial Group from $135.00 to $143.00 and gave the stock a "market perform" rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods downgraded shares of American Financial Group from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $164.00 to $144.00 in a research note on Friday, February 7th. Finally, Piper Sandler upped their target price on American Financial Group from $135.00 to $150.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th.

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.