Kingsview Wealth Management LLC Makes New Investment in American Financial Group, Inc. (NYSE:AFG)

Posted by Defense World Staff on Jun 11th, 2023

Kingsview Wealth Management LLC acquired a new position in American Financial Group, Inc. (NYSE:AFG – Get Rating) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,431 shares of the insurance provider’s stock, valued at approximately $334,000.

Other hedge funds also recently modified their holdings of the company. Raleigh Capital Management Inc. lifted its position in shares of American Financial Group by 219.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 201 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 138 shares during the period. Dark Forest Capital Management LP acquired a new position in shares of American Financial Group in the 4th quarter worth approximately $29,000. Huntington National Bank raised its holdings in shares of American Financial Group by 52.6% in the 4th quarter. Huntington National Bank now owns 415 shares of the insurance provider’s stock worth $57,000 after buying an additional 143 shares in the last quarter. AM Squared Ltd acquired a new position in shares of American Financial Group in the 4th quarter worth approximately $82,000. Finally, AdvisorNet Financial Inc raised its holdings in shares of American Financial Group by 22.2% in the 4th quarter. AdvisorNet Financial Inc now owns 672 shares of the insurance provider’s stock worth $92,000 after buying an additional 122 shares in the last quarter. Institutional investors own 64.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AFG shares. Piper Sandler increased their target price on American Financial Group from $166.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, April 4th. StockNews.com started coverage on American Financial Group in a report on Thursday, May 18th. They issued a “hold” rating for the company.

American Financial Group Trading Down 0.6 %

AFG stock opened at $116.10 on Friday. The business has a fifty day moving average price of $118.26 and a 200 day moving average price of $128.40. American Financial Group, Inc. has a fifty-two week low of $111.54 and a fifty-two week high of $150.98. The stock has a market capitalization of $9.89 billion, a price-to-earnings ratio of 12.07 and a beta of 0.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.42 and a quick ratio of 0.42.

American Financial Group (NYSE:AFG – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The insurance provider reported $2.89 earnings per share for the quarter, beating analysts’ consensus estimates of $2.88 by $0.01. American Financial Group had a return on equity of 23.44% and a net margin of 11.40%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the firm posted $3.56 EPS. The business’s revenue was up 10.4% on a year-over-year basis. Analysts expect that American Financial Group, Inc. will post 11.52 EPS for the current fiscal year.

American Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 25th. Investors of record on Friday, April 14th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, April 13th. This represents a $2.52 dividend on an annualized basis and a yield of 2.17%. American Financial Group’s dividend payout ratio is 26.20%.

Insider Activity at American Financial Group

In other American Financial Group news, Director Lehman John I. Von sold 1,479 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $117.39, for a total value of $173,619.81. Following the transaction, the director now directly owns 14,116 shares in the company, valued at approximately $1,657,077.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 14.60% of the company’s stock.

American Financial Group Company Profile

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American Financial Group, Inc is an insurance holding company, which engages in property and casualty insurance, focusing on commercial products for businesses, and in the sale of fixed and fixed-indexed annuities in the retail, financial institutions and education markets. Its Property and Casualty Insurance Products include Property and Transportation, Specialty Casualty, and Specialty Financial.