American Trust trimmed its holdings in American Financial Group, Inc. (NYSE:AFG – Get Rating) by 14.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,493 shares of the insurance provider’s stock after selling 257 shares during the period. American Trust’s holdings in American Financial Group were worth $217,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in AFG. Spire Wealth Management raised its position in shares of American Financial Group by 116.9% during the 1st quarter. Spire Wealth Management now owns 180 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 97 shares in the last quarter. Covestor Ltd acquired a new stake in shares of American Financial Group during the 4th quarter valued at approximately $41,000. Quent Capital LLC acquired a new stake in American Financial Group in the fourth quarter worth $47,000. Steward Partners Investment Advisory LLC increased its position in American Financial Group by 61.2% in the first quarter. Steward Partners Investment Advisory LLC now owns 411 shares of the insurance provider’s stock worth $60,000 after buying an additional 156 shares during the period. Finally, MCF Advisors LLC acquired a new stake in American Financial Group in the first quarter worth $83,000. 69.11% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, Morgan Stanley dropped their target price on American Financial Group from $147.00 to $146.00 and set an “equal weight” rating on the stock in a research report on Friday, August 19th.
American Financial Group Price Performance
American Financial Group (NYSE:AFG – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The insurance provider reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.61. American Financial Group had a return on equity of 23.56% and a net margin of 15.53%. During the same period in the previous year, the business earned $2.39 earnings per share. On average, research analysts expect that American Financial Group, Inc. will post 11.55 EPS for the current year.
American Financial Group Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, July 25th. Stockholders of record on Friday, July 15th were paid a $0.56 dividend. The ex-dividend date was Thursday, July 14th. This represents a $2.24 annualized dividend and a dividend yield of 1.72%. American Financial Group’s payout ratio is 18.51%.
About American Financial Group
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.
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