American Financial Group, Inc. $AFG Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in American Financial Group, Inc. (NYSE:AFG) by 2.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 871,257 shares of the insurance provider’s stock after selling 24,369 shares during the period. Bank of New York Mellon Corp owned about 1.04% of American Financial Group worth $126,960,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in AFG. Charles Schwab Investment Management Inc. grew its position in shares of American Financial Group by 1.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,565,424 shares of the insurance provider’s stock valued at $323,782,000 after purchasing an additional 44,710 shares during the period. Norges Bank acquired a new stake in American Financial Group in the 2nd quarter worth about $106,707,000. Johnson Investment Counsel Inc. grew its holdings in American Financial Group by 6.1% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 602,558 shares of the insurance provider’s stock valued at $76,049,000 after buying an additional 34,876 shares during the period. Boston Trust Walden Corp grew its holdings in American Financial Group by 15.4% in the 2nd quarter. Boston Trust Walden Corp now owns 580,638 shares of the insurance provider’s stock valued at $73,282,000 after buying an additional 77,417 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of American Financial Group by 29.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 424,723 shares of the insurance provider’s stock valued at $53,605,000 after acquiring an additional 97,102 shares during the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on AFG. Piper Sandler raised their target price on shares of American Financial Group from $130.00 to $139.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Weiss Ratings lowered shares of American Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Wells Fargo & Company began coverage on American Financial Group in a report on Thursday, January 15th. They set an “overweight” rating and a $165.00 price objective for the company. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $142.00 target price on shares of American Financial Group in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $142.50.

Insider Buying and Selling

In related news, CFO Brian S. Hertzman sold 1,777 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $142.51, for a total transaction of $253,240.27. Following the transaction, the chief financial officer directly owned 11,300 shares of the company’s stock, valued at approximately $1,610,363. The trade was a 13.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 17.40% of the company’s stock.

American Financial Group Price Performance

American Financial Group stock opened at $130.41 on Friday. The firm has a fifty day moving average of $134.03 and a 200-day moving average of $134.99. American Financial Group, Inc. has a 52-week low of $114.73 and a 52-week high of $150.02. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $10.88 billion, a P/E ratio of 13.70 and a beta of 0.70.

American Financial Group (NYSE:AFG) last posted its earnings results on Wednesday, November 5th. The insurance provider reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.34. American Financial Group had a net margin of 9.66% and a return on equity of 18.05%. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the previous year, the business posted $2.31 EPS. The business’s quarterly revenue was up 13.4% on a year-over-year basis. As a group, analysts predict that American Financial Group, Inc. will post 10.5 EPS for the current year.

American Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 27th. Investors of record on Thursday, January 15th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Thursday, January 15th. American Financial Group’s dividend payout ratio (DPR) is presently 36.97%.

American Financial Group Profile

American Financial Group, Inc (NYSE: AFG) is a diversified holding company primarily engaged in property and casualty insurance and reinsurance. Through its flagship subsidiary, Great American Insurance Company, the firm underwrites a broad range of specialty insurance products for commercial and industrial clients, including inland marine, excess and surplus lines, executive liability, and environmental liability coverage. In addition, American Financial Group offers supplemental accident and health insurance and assumes reinsurance risks from other insurers, helping to diversify its underwriting portfolio.

The company traces its roots to 1946, when it was founded by Carl Lindner, Sr.