Zions Bancorporation N.A. Boosts Stake in American Financial Group, Inc. (NYSE:AFG)

Zions Bancorporation N.A. lifted its holdings in shares of American Financial Group, Inc. (NYSE:AFG) by 25.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,017 shares of the insurance provider’s stock after purchasing an additional 615 shares during the quarter. Zions Bancorporation N.A.’s holdings in American Financial Group were worth $406,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AFG. Bank of Montreal Can boosted its stake in American Financial Group by 251.1% during the second quarter. Bank of Montreal Can now owns 147,892 shares of the insurance provider’s stock worth $19,442,000 after buying an additional 105,764 shares during the period. Assenagon Asset Management S.A. increased its holdings in American Financial Group by 123.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 115,050 shares of the insurance provider’s stock valued at $15,486,000 after purchasing an additional 63,541 shares during the last quarter. Bahl & Gaynor Inc. raised its position in American Financial Group by 8.6% in the second quarter. Bahl & Gaynor Inc. now owns 492,021 shares of the insurance provider’s stock valued at $60,528,000 after purchasing an additional 38,937 shares during the period. Intech Investment Management LLC raised its position in American Financial Group by 2,269.4% in the second quarter. Intech Investment Management LLC now owns 38,527 shares of the insurance provider’s stock valued at $4,740,000 after purchasing an additional 36,901 shares during the period. Finally, Texas Permanent School Fund Corp lifted its stake in American Financial Group by 56.0% during the second quarter. Texas Permanent School Fund Corp now owns 89,076 shares of the insurance provider’s stock worth $10,958,000 after purchasing an additional 31,982 shares in the last quarter. 64.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AFG shares. BMO Capital Markets boosted their price objective on American Financial Group from $135.00 to $143.00 and gave the company a “market perform” rating in a report on Friday. Piper Sandler boosted their price target on shares of American Financial Group from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Tuesday.

American Financial Group Trading Down 0.1 %

AFG opened at $137.82 on Friday. The business has a fifty day moving average price of $134.93 and a 200 day moving average price of $130.34. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.53 and a quick ratio of 0.46. American Financial Group, Inc. has a 12 month low of $108.39 and a 12 month high of $144.81. The stock has a market capitalization of $11.57 billion, a price-to-earnings ratio of 12.92 and a beta of 0.79.

American Financial Group (NYSE:AFG) last announced its quarterly earnings data on Tuesday, November 5th. The insurance provider reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.80 billion. American Financial Group had a return on equity of 19.97% and a net margin of 10.84%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.45 earnings per share. Sell-side analysts expect that American Financial Group, Inc. will post 10.88 earnings per share for the current fiscal year.

American Financial Group Increases Dividend

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

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.