Greenleaf Trust trimmed its holdings in shares of American Financial Group, Inc. (NYSE:AFG – Get Rating) by 5.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,458 shares of the insurance provider’s stock after selling 86 shares during the period. Greenleaf Trust’s holdings in American Financial Group were worth $212,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in AFG. State Street Corp increased its position in shares of American Financial Group by 5.5% during the fourth quarter. State Street Corp now owns 2,940,094 shares of the insurance provider’s stock valued at $403,734,000 after acquiring an additional 152,866 shares in the last quarter. American Financial Group Inc. 401 K Retirement & Savings Plan grew its position in shares of American Financial Group by 5.2% during the 4th quarter. American Financial Group Inc. 401 K Retirement & Savings Plan now owns 2,792,570 shares of the insurance provider’s stock valued at $383,476,000 after acquiring an additional 138,911 shares during the period. Dimensional Fund Advisors LP grew its position in shares of American Financial Group by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,470,812 shares of the insurance provider’s stock valued at $201,967,000 after acquiring an additional 58,455 shares during the period. Millennium Management LLC lifted its stake in shares of American Financial Group by 18.0% during the 4th quarter. Millennium Management LLC now owns 611,818 shares of the insurance provider’s stock valued at $84,015,000 after buying an additional 93,271 shares in the last quarter. Finally, Point72 Asset Management LP lifted its stake in shares of American Financial Group by 213.2% during the 4th quarter. Point72 Asset Management LP now owns 372,177 shares of the insurance provider’s stock valued at $51,107,000 after buying an additional 253,337 shares in the last quarter. 64.93% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have commented on AFG. Morgan Stanley coverage began on shares of American Financial Group in a research note on Friday. They issued an “equal weight” rating and a $147.00 price target on the stock. StockNews.com initiated coverage on shares of American Financial Group in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods upped their price target on shares of American Financial Group to $178.00 and gave the company a “na” rating in a report on Monday, May 16th.
Insider Activity at American Financial Group
In related news, Director Terry S. Jacobs sold 293 shares of the stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $140.03, for a total value of $41,028.79. Following the sale, the director now directly owns 6,850 shares of the company’s stock, valued at approximately $959,205.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 14.60% of the stock is owned by corporate insiders.
American Financial Group Trading Up 0.4%
NYSE:AFG opened at $132.94 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.40. American Financial Group, Inc. has a 52 week low of $122.65 and a 52 week high of $152.29. The stock has a market capitalization of $11.31 billion, a price-to-earnings ratio of 6.09 and a beta of 0.88. The firm has a 50 day moving average of $137.67 and a 200 day moving average of $138.42.
American Financial Group (NYSE:AFG – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The insurance provider reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $1.11. American Financial Group had a net margin of 28.14% and a return on equity of 21.08%. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the company posted $2.38 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, sell-side analysts anticipate that American Financial Group, Inc. will post 11.02 earnings per share for the current fiscal year.
American Financial Group Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 25th. Investors of record on Friday, July 15th will be paid a $0.56 dividend. The ex-dividend date is Thursday, July 14th. This represents a $2.24 dividend on an annualized basis and a yield of 1.68%. American Financial Group’s payout ratio is 10.26%.
American Financial Group Profile
American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. It 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.
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