Norges Bank Takes $122.42 Million Position in American Financial Group, Inc. (NYSE:AFG)

Norges Bank acquired a new stake in American Financial Group, Inc. (NYSE:AFG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 894,025 shares of the insurance provider's stock, valued at approximately $122,419,000. Norges Bank owned approximately 1.07% of American Financial Group at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AFG. Crossmark Global Holdings Inc. lifted its position in American Financial Group by 1.4% in the 4th quarter. Crossmark Global Holdings Inc. now owns 5,798 shares of the insurance provider's stock valued at $794,000 after acquiring an additional 81 shares in the last quarter. Horan Securities Inc. lifted its holdings in shares of American Financial Group by 3.2% in the fourth quarter. Horan Securities Inc. now owns 2,595 shares of the insurance provider's stock valued at $355,000 after purchasing an additional 81 shares in the last quarter. Shoker Investment Counsel Inc. boosted its position in shares of American Financial Group by 3.3% during the fourth quarter. Shoker Investment Counsel Inc. now owns 2,648 shares of the insurance provider's stock valued at $363,000 after buying an additional 85 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of American Financial Group by 4.6% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,226 shares of the insurance provider's stock valued at $305,000 after buying an additional 97 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in American Financial Group by 0.8% during the fourth quarter. Van ECK Associates Corp now owns 12,040 shares of the insurance provider's stock worth $1,649,000 after buying an additional 101 shares in the last quarter. 64.37% of the stock is currently owned by institutional investors and hedge funds.

American Financial Group Stock Performance

Shares of AFG stock traded down $8.50 during trading on Friday, hitting $121.78. The company's stock had a trading volume of 510,400 shares, compared to its average volume of 363,236. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.31. The company has a market cap of $10.23 billion, a PE ratio of 11.52 and a beta of 0.79. The business has a fifty day moving average of $127.54 and a 200-day moving average of $133.62. American Financial Group, Inc. has a 52 week low of $118.97 and a 52 week high of $150.19.

American Financial Group (NYSE:AFG - Get Free Report) last announced its quarterly earnings data 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 net margin of 10.66% and a return on equity of 20.30%. As a group, research analysts anticipate that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Tuesday, April 15th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Tuesday, April 15th. American Financial Group's dividend payout ratio (DPR) is currently 30.27%.

Insider Activity at American Financial Group

In other American Financial Group news, Director Gregory G. Joseph acquired 3,000 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average cost of $121.00 per share, with a total value of $363,000.00. Following the acquisition, the director now owns 57,477 shares in the company, valued at approximately $6,954,717. This represents a 5.51 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 14.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods downgraded shares of American Financial Group from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $164.00 to $144.00 in a report on Friday, February 7th.

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.