Sumitomo Mitsui Trust Holdings Inc. lowered its position in shares of American Financial Group, Inc. (NYSE:AFG – Get Rating) by 0.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 199,240 shares of the insurance provider’s stock after selling 1,444 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.23% of American Financial Group worth $29,013,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in AFG. Point72 Asset Management LP lifted its holdings in American Financial Group by 213.2% during the fourth quarter. Point72 Asset Management LP now owns 372,177 shares of the insurance provider’s stock valued at $51,107,000 after purchasing an additional 253,337 shares in the last quarter. State Street Corp lifted its holdings in 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 purchasing an additional 152,866 shares in the last quarter. American Financial Group Inc. 401 K Retirement & Savings Plan lifted its holdings in American Financial Group by 5.2% during the fourth 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 purchasing an additional 138,911 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of American Financial Group in the fourth quarter worth $14,047,000. Finally, Millennium Management LLC lifted its holdings in shares of American Financial Group by 18.0% in the fourth quarter. Millennium Management LLC now owns 611,818 shares of the insurance provider’s stock worth $84,015,000 after buying an additional 93,271 shares in the last quarter. Hedge funds and other institutional investors own 64.93% of the company’s stock.
American Financial Group Trading Up 0.4%
Shares of AFG opened at $132.94 on Friday. The company’s fifty day moving average is $137.67 and its 200 day moving average is $138.42. American Financial Group, Inc. has a fifty-two week low of $122.65 and a fifty-two week high of $152.29. The stock has a market capitalization of $11.31 billion, a PE ratio of 6.09 and a beta of 0.88. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.45 and a current ratio of 0.45.
American Financial Group (NYSE:AFG – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The insurance provider reported $3.56 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the business posted $2.38 earnings per share. American Financial Group’s quarterly revenue was up 11.0% on a year-over-year basis. Sell-side analysts expect that American Financial Group, Inc. will post 11.02 earnings per share for the current fiscal year.
American Financial Group Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 25th. Shareholders of record on Friday, July 15th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Thursday, July 14th. American Financial Group’s dividend payout ratio (DPR) is 10.26%.
Insider Buying and Selling at American Financial Group
In other American Financial Group news, Director Terry S. Jacobs sold 293 shares of the business’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $140.03, for a total transaction of $41,028.79. Following the transaction, the director now owns 6,850 shares in the company, valued at $959,205.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 14.60% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on AFG shares. Morgan Stanley started coverage on shares of American Financial Group in a report on Friday. They issued an “equal weight” rating and a $147.00 target price on the stock. StockNews.com started 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 increased their target price on shares of American Financial Group to $178.00 and gave the stock a “na” rating in a report on Monday, May 16th.
American Financial Group Company 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.
Want to see what other hedge funds are holding AFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Financial Group, Inc. (NYSE:AFG – Get Rating).
Receive News & Ratings for American Financial Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for American Financial Group and related companies with MarketBeat.com’s FREE daily email newsletter.