20,432 Shares in American Financial Group, Inc. (NYSE:AFG) Purchased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. bought a new position in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 20,432 shares of the insurance provider's stock, valued at approximately $2,798,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AFG. UMB Bank n.a. grew its holdings 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 buying an additional 158 shares in the last quarter. Jones Financial Companies Lllp boosted its position in American Financial Group by 91.2% during the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the insurance provider's stock worth $71,000 after acquiring an additional 248 shares during the last quarter. Allworth Financial LP grew its stake in shares of American Financial Group by 301.1% during the 4th quarter. Allworth Financial LP now owns 702 shares of the insurance provider's stock worth $94,000 after acquiring an additional 527 shares in the last quarter. iA Global Asset Management Inc. acquired a new stake in shares of American Financial Group in the third quarter valued at approximately $125,000. Finally, GAMMA Investing LLC lifted its position in shares of American Financial Group by 31.6% in the fourth quarter. GAMMA Investing LLC now owns 1,059 shares of the insurance provider's stock worth $145,000 after purchasing an additional 254 shares in the last quarter. Institutional investors and hedge funds own 64.37% of the company's stock.

Insider Activity

In other American Financial Group news, Director Gregory G. Joseph purchased 3,000 shares of the stock in a transaction on Thursday, February 20th. The shares were purchased at an average price of $121.00 per share, with a total value of $363,000.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 14.50% of the stock is owned by insiders.

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Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods decreased their target price on shares of 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 %

AFG stock traded up $0.48 during mid-day trading on Tuesday, reaching $128.19. The company had a trading volume of 35,197 shares, compared to its average volume of 370,160. The company has a market capitalization of $10.72 billion, a price-to-earnings ratio of 12.13 and a beta of 0.59. American Financial Group, Inc. has a 52 week low of $114.73 and a 52 week high of $150.19. The stock has a 50 day simple moving average of $125.40 and a two-hundred day simple moving average of $132.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.53 and a quick ratio of 0.53.

American Financial Group (NYSE:AFG - Get Free Report) last released 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 analysts predict that American Financial Group, Inc. will post 10.5 earnings per share for the current fiscal year.

American Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Tuesday, April 15th will be issued a $0.80 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.50%. American Financial Group's payout ratio is 30.27%.

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.