Sequoia Financial Advisors LLC Sells 4,733 Shares of American Financial Group, Inc. $AFG

Sequoia Financial Advisors LLC lessened its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 62.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,854 shares of the insurance provider’s stock after selling 4,733 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in American Financial Group were worth $364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in shares of American Financial Group by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,567,721 shares of the insurance provider’s stock worth $350,956,000 after buying an additional 57,246 shares during the period. Geode Capital Management LLC boosted its position in American Financial Group by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 1,732,557 shares of the insurance provider’s stock valued at $236,645,000 after buying an additional 29,731 shares during the period. Dimensional Fund Advisors LP grew its holdings in American Financial Group by 12.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,266,001 shares of the insurance provider’s stock worth $173,045,000 after acquiring an additional 138,483 shares during the last quarter. Northern Trust Corp grew its holdings in American Financial Group by 33.2% in the 3rd quarter. Northern Trust Corp now owns 1,026,783 shares of the insurance provider’s stock worth $149,623,000 after acquiring an additional 255,693 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of American Financial Group by 4.3% in the fourth quarter. Morgan Stanley now owns 894,998 shares of the insurance provider’s stock valued at $122,329,000 after acquiring an additional 36,971 shares during the period. Institutional investors own 64.37% of the company’s stock.

American Financial Group Stock Down 0.6%

Shares of NYSE AFG opened at $140.63 on Thursday. The firm has a fifty day simple moving average of $136.48 and a two-hundred day simple moving average of $132.42. American Financial Group, Inc. has a 12 month low of $122.11 and a 12 month high of $150.02. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $11.68 billion, a PE ratio of 13.37 and a beta of 0.62.

American Financial Group (NYSE:AFG) last announced its earnings results on Thursday, April 30th. The insurance provider reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.07). American Financial Group had a net margin of 10.76% and a return on equity of 19.50%. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the firm posted $1.81 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. Equities analysts expect that American Financial Group, Inc. will post 11.37 earnings per share for the current year.

American Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, July 15th. American Financial Group’s payout ratio is presently 33.46%.

Analyst Ratings Changes

Several equities analysts have recently commented on AFG shares. Keefe, Bruyette & Woods upped their price objective on shares of American Financial Group from $140.00 to $148.00 and gave the company a “market perform” rating in a research note on Wednesday, July 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of American Financial Group in a research note on Thursday, June 11th. Wells Fargo & Company boosted their price target on American Financial Group from $158.00 to $173.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Finally, Piper Sandler upped their price target on American Financial Group from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $150.75.

Insider Buying and Selling

In other news, SVP Michelle A. Gillis sold 2,247 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $139.00, for a total value of $312,333.00. Following the completion of the transaction, the senior vice president owned 13,135 shares in the company, valued at $1,825,765. This trade represents a 14.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $135.05, for a total value of $1,535,518.50. Following the completion of the transaction, the insider owned 584,098 shares of the company’s stock, valued at approximately $78,882,434.90. The trade was a 1.91% decrease in their position. The SEC filing for this sale provides additional information. 16.90% of the stock is currently owned by corporate insiders.

About American Financial Group

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.