Charles Schwab Investment Management Inc. Buys 39,623 Shares of American Financial Group, Inc. (NYSE:AFG)

Charles Schwab Investment Management Inc. raised its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 8.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 503,115 shares of the insurance provider’s stock after acquiring an additional 39,623 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in American Financial Group were worth $67,719,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Oppenheimer & Co. Inc. increased its stake in American Financial Group by 4.0% during the third quarter. Oppenheimer & Co. Inc. now owns 2,165 shares of the insurance provider’s stock valued at $291,000 after acquiring an additional 83 shares during the period. Sei Investments Co. grew its holdings in shares of American Financial Group by 0.3% during the 2nd quarter. Sei Investments Co. now owns 26,059 shares of the insurance provider’s stock worth $3,206,000 after purchasing an additional 86 shares in the last quarter. Diversified Trust Co increased its position in shares of American Financial Group by 5.0% during the second quarter. Diversified Trust Co now owns 2,105 shares of the insurance provider’s stock valued at $259,000 after purchasing an additional 100 shares during the period. Verdence Capital Advisors LLC raised its stake in shares of American Financial Group by 6.3% in the third quarter. Verdence Capital Advisors LLC now owns 2,100 shares of the insurance provider’s stock valued at $283,000 after purchasing an additional 125 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in American Financial Group by 44.3% in the second quarter. Blue Trust Inc. now owns 433 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 133 shares during the period. Institutional investors and hedge funds own 64.37% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Piper Sandler boosted their price target on shares of American Financial Group from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. BMO Capital Markets upped their target price on shares of American Financial Group from $135.00 to $143.00 and gave the company a “market perform” rating in a research note on Friday, November 15th.

American Financial Group Price Performance

Shares of AFG stock opened at $147.93 on Friday. The stock’s fifty day simple moving average is $136.64 and its 200 day simple moving average is $131.30. American Financial Group, Inc. has a one year low of $110.53 and a one year high of $150.19. The firm has a market cap of $12.42 billion, a price-to-earnings ratio of 13.86 and a beta of 0.79. 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) last issued its quarterly earnings data on Tuesday, November 5th. The insurance provider reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). American Financial Group had a net margin of 10.84% and a return on equity of 19.97%. The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the business posted $2.45 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, analysts expect that American Financial Group, Inc. will post 10.73 earnings per share for the current fiscal year.

American Financial Group Increases Dividend

The company also recently declared a None dividend, which was paid on Tuesday, November 26th. Shareholders of record on Friday, November 15th were given a $4.00 dividend. The ex-dividend date was Friday, November 15th. This is a positive change from American Financial Group’s previous None dividend of $1.00. 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.