Johnson Investment Counsel Inc. Cuts Position in American Financial Group, Inc. $AFG

Johnson Investment Counsel Inc. reduced its position in shares of American Financial Group, Inc. (NYSE:AFG) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 591,657 shares of the insurance provider’s stock after selling 10,901 shares during the period. Johnson Investment Counsel Inc.’s holdings in American Financial Group were worth $86,216,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Royal Bank of Canada lifted its stake in American Financial Group by 11.1% during the 1st quarter. Royal Bank of Canada now owns 75,421 shares of the insurance provider’s stock worth $9,905,000 after acquiring an additional 7,554 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in American Financial Group in the 1st quarter valued at about $2,330,000. Jones Financial Companies Lllp grew its position in American Financial Group by 145.8% in the 1st quarter. Jones Financial Companies Lllp now owns 1,278 shares of the insurance provider’s stock valued at $168,000 after acquiring an additional 758 shares in the last quarter. Callan Family Office LLC purchased a new stake in American Financial Group during the second quarter worth about $423,000. Finally, IFP Advisors Inc lifted its position in shares of American Financial Group by 86.7% during the second quarter. IFP Advisors Inc now owns 422 shares of the insurance provider’s stock worth $57,000 after purchasing an additional 196 shares in the last quarter. 64.37% of the stock is owned by institutional investors and hedge funds.

American Financial Group Stock Performance

NYSE:AFG opened at $129.60 on Tuesday. American Financial Group, Inc. has a 12 month low of $114.73 and a 12 month high of $150.02. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market capitalization of $10.81 billion, a PE ratio of 12.87 and a beta of 0.71. The business’s fifty day moving average price is $133.13 and its 200 day moving average price is $135.15.

American Financial Group (NYSE:AFG) last released its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $3.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.47. American Financial Group had a return on equity of 18.92% and a net margin of 10.30%.The business had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the prior year, the firm posted $3.12 EPS. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, sell-side analysts anticipate that American Financial Group, Inc. will post 10.5 earnings per share for the current fiscal year.

American Financial Group Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Monday, February 16th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, February 13th. American Financial Group’s dividend payout ratio (DPR) is presently 34.96%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Weiss Ratings cut shares of American Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Jefferies Financial Group restated a “hold” rating and issued a $142.00 price target on shares of American Financial Group in a research note on Tuesday, November 11th. Piper Sandler increased their price objective on American Financial Group from $130.00 to $139.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Finally, Wells Fargo & Company decreased their target price on American Financial Group from $165.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $141.25.

American Financial Group Company 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.