American Financial Group (NYSE:AFG) Sets New 52-Week High After Dividend Announcement

American Financial Group, Inc. (NYSE:AFG)’s stock price hit a new 52-week high during trading on Wednesday following a dividend announcement from the company. The company traded as high as $140.00 and last traded at $140.00, with a volume of 1399 shares changing hands. The stock had previously closed at $127.44.

The newly announced dividend which will be paid on Tuesday, November 26th. Shareholders of record on Friday, November 15th will be given a dividend of $4.00 per share. This is an increase from American Financial Group’s previous None dividend of $1.00. The ex-dividend date of this dividend is Friday, November 15th. American Financial Group’s payout ratio is currently 29.99%.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets lifted their price target on American Financial Group from $132.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, October 8th.

American Financial Group Stock Performance

The firm has a market capitalization of $11.64 billion, a price-to-earnings ratio of 13.01 and a beta of 0.79. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.34. The stock’s 50-day moving average is $133.99 and its 200-day moving average is $129.81.

American Financial Group (NYSE:AFG) last announced its quarterly earnings results 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 firm had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $1.80 billion. American Financial Group had a net margin of 10.84% and a return on equity of 20.45%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.45 earnings per share. On average, analysts predict that American Financial Group, Inc. will post 10.98 EPS for the current fiscal year.

Institutional Investors Weigh In On American Financial Group

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its stake in shares of American Financial Group by 59.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,473 shares of the insurance provider’s stock valued at $201,000 after buying an additional 547 shares during the period. Nordea Investment Management AB lifted its position in shares of American Financial Group by 11.5% in the 1st quarter. Nordea Investment Management AB now owns 4,832 shares of the insurance provider’s stock worth $662,000 after purchasing an additional 498 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of American Financial Group by 2.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 4,674 shares of the insurance provider’s stock worth $638,000 after purchasing an additional 100 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of American Financial Group by 691.7% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,148 shares of the insurance provider’s stock worth $157,000 after buying an additional 1,003 shares during the period. Finally, Texas Permanent School Fund Corp increased its position in shares of American Financial Group by 1.1% during the first quarter. Texas Permanent School Fund Corp now owns 57,094 shares of the insurance provider’s stock worth $7,792,000 after buying an additional 643 shares during the period. 64.37% of the stock is owned by institutional investors.

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.