American Financial Group, Inc. (NYSE:AFG) Sees Large Growth in Short Interest

American Financial Group, Inc. (NYSE:AFG) saw a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 725,000 shares, a growth of 9.3% from the July 15th total of 663,600 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average trading volume of 274,400 shares, the days-to-cover ratio is currently 2.6 days.

American Financial Group Trading Up 0.8 %

Shares of American Financial Group stock traded up $1.00 during trading on Friday, reaching $129.12. 147,767 shares of the stock were exchanged, compared to its average volume of 288,922. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.34. The firm has a market cap of $10.83 billion, a price-to-earnings ratio of 12.36 and a beta of 0.78. American Financial Group has a 1 year low of $105.22 and a 1 year high of $137.71. The stock’s fifty day moving average is $125.73 and its 200 day moving average is $127.48.

American Financial Group (NYSE:AFG) last released its quarterly earnings data on Tuesday, August 6th. The insurance provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.11. American Financial Group had a return on equity of 21.16% and a net margin of 11.06%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the business posted $2.38 EPS. The business’s revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts expect that American Financial Group will post 10.97 earnings per share for the current fiscal year.

American Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 15th were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.84 annualized dividend and a yield of 2.20%. American Financial Group’s dividend payout ratio (DPR) is presently 27.18%.

Insider Activity at American Financial Group

In other American Financial Group news, Director Amy Y. Murray bought 1,200 shares of the stock in a transaction dated Friday, June 28th. The shares were bought at an average cost of $125.17 per share, for a total transaction of $150,204.00. Following the purchase, the director now directly owns 1,200 shares of the company’s stock, valued at approximately $150,204. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 14.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On American Financial Group

Several institutional investors and hedge funds have recently modified their holdings of AFG. Quarry LP bought a new stake in shares of American Financial Group during the second quarter valued at approximately $199,000. Creative Planning lifted its position in American Financial Group by 1.5% during the second quarter. Creative Planning now owns 27,464 shares of the insurance provider’s stock valued at $3,379,000 after buying an additional 410 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of American Financial Group during the 2nd quarter valued at $3,662,000. Lighthouse Investment Partners LLC grew its position in shares of American Financial Group by 39.7% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 65,865 shares of the insurance provider’s stock worth $8,103,000 after buying an additional 18,721 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of American Financial Group by 27.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 75,218 shares of the insurance provider’s stock worth $9,253,000 after buying an additional 16,267 shares during the period. 64.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Citigroup lowered American Financial Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $144.00 to $137.00 in a report on Friday, June 28th. Piper Sandler boosted their price target on shares of American Financial Group from $129.00 to $135.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $131.75.

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.