Pictet Asset Management Holding SA Trims Position in American Financial Group, Inc. $AFG

Pictet Asset Management Holding SA lowered its holdings in American Financial Group, Inc. (NYSE:AFG) by 59.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,478 shares of the insurance provider’s stock after selling 15,568 shares during the period. Pictet Asset Management Holding SA’s holdings in American Financial Group were worth $1,338,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AFG. Charles Schwab Investment Management Inc. lifted its position in American Financial Group by 2.3% during 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 grew its holdings in American Financial Group by 1.7% in 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 increased its stake in shares of American Financial Group by 12.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,266,001 shares of the insurance provider’s stock valued at $173,045,000 after acquiring an additional 138,483 shares during the last quarter. Northern Trust Corp increased its stake in shares of American Financial Group by 33.2% during the 3rd quarter. Northern Trust Corp now owns 1,026,783 shares of the insurance provider’s stock valued at $149,623,000 after acquiring an additional 255,693 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of American Financial Group by 4.3% during the 4th quarter. Morgan Stanley now owns 894,998 shares of the insurance provider’s stock worth $122,329,000 after acquiring an additional 36,971 shares during the period. 64.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at American Financial Group

In related news, insider David Lawrence Thompson, Jr. sold 11,370 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $135.05, for a total transaction of $1,535,518.50. Following the completion of the sale, the insider directly owned 584,098 shares of the company’s stock, valued at approximately $78,882,434.90. This represents a 1.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michelle A. Gillis sold 2,247 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $139.00, for a total transaction of $312,333.00. Following the sale, the senior vice president directly owned 13,135 shares of the company’s stock, valued at approximately $1,825,765. This trade represents a 14.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 16.90% of the stock is owned by corporate insiders.

American Financial Group Trading Up 0.9%

Shares of American Financial Group stock traded up $1.24 during trading hours on Tuesday, reaching $143.26. The stock had a trading volume of 16,250 shares, compared to its average volume of 578,264. The firm has a market capitalization of $11.90 billion, a price-to-earnings ratio of 13.62 and a beta of 0.62. American Financial Group, Inc. has a 1 year low of $122.11 and a 1 year 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 50 day simple moving average of $134.14 and a two-hundred day simple moving average of $132.12.

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

American Financial Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AFG shares. Keefe, Bruyette & Woods raised their target price on shares of American Financial Group from $134.00 to $140.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 25th. Piper Sandler increased their price target on shares of American Financial Group from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Weiss Ratings reiterated a “buy (b-)” rating on shares of American Financial Group in a report on Thursday, June 11th. Finally, Wells Fargo & Company boosted their price objective on shares of American Financial Group from $155.00 to $158.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $145.00.

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.