Renaissance Technologies LLC Acquires New Position in American Financial Group, Inc. (NYSE:AFG)

Renaissance Technologies LLC purchased a new stake in American Financial Group, Inc. (NYSE:AFG - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 36,700 shares of the insurance provider's stock, valued at approximately $5,025,000.

Other hedge funds have also made changes to their positions in the company. MML Investors Services LLC grew its holdings in American Financial Group by 3.5% in the 3rd quarter. MML Investors Services LLC now owns 3,400 shares of the insurance provider's stock valued at $458,000 after buying an additional 116 shares during the period. Barclays PLC increased its position in American Financial Group by 11.0% during the third quarter. Barclays PLC now owns 63,333 shares of the insurance provider's stock worth $8,528,000 after purchasing an additional 6,272 shares during the last quarter. Franklin Resources Inc. raised its stake in American Financial Group by 17.4% during the third quarter. Franklin Resources Inc. now owns 49,796 shares of the insurance provider's stock worth $6,833,000 after purchasing an additional 7,365 shares during the period. Retirement Systems of Alabama grew its stake in shares of American Financial Group by 1.0% during the 3rd quarter. Retirement Systems of Alabama now owns 171,354 shares of the insurance provider's stock valued at $23,064,000 after buying an additional 1,714 shares during the period. Finally, Lord Abbett & CO. LLC increased its holdings in shares of American Financial Group by 0.4% during the 3rd quarter. Lord Abbett & CO. LLC now owns 399,177 shares of the insurance provider's stock worth $53,729,000 after buying an additional 1,563 shares during the last quarter. Institutional investors and hedge funds own 64.37% of the company's stock.

Insider Buying and Selling at American Financial Group

In other news, Director Gregory G. Joseph acquired 3,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average cost of $121.00 per share, with a total value of $363,000.00. Following the completion of the acquisition, the director now directly owns 57,477 shares in the company, valued at $6,954,717. This represents a 5.51 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 17.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lowered their price target on American Financial Group from $144.00 to $126.00 and set a "market perform" rating for the company in a research report on Wednesday, April 9th.

American Financial Group Stock Up 0.4 %

Shares of NYSE AFG traded up $0.57 on Thursday, hitting $129.04. The company had a trading volume of 170,983 shares, compared to its average volume of 528,958. The business has a 50 day moving average of $125.66 and a two-hundred day moving average of $132.53. The firm has a market capitalization of $10.80 billion, a P/E ratio of 12.21 and a beta of 0.59. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.31. American Financial Group, Inc. has a 12-month low of $114.73 and a 12-month high of $150.19.

American Financial Group (NYSE:AFG - Get Free Report) last announced its earnings results on Tuesday, February 4th. The insurance provider reported $3.12 earnings per share for the quarter, missing the consensus estimate 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, equities research analysts forecast that American Financial Group, Inc. will post 10.5 earnings per share for the current fiscal year.

American Financial Group Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Tuesday, April 15th. American Financial Group's dividend payout ratio is currently 30.27%.

American Financial Group 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.