Fifth Third Bancorp Sells 1,415 Shares of American Financial Group, Inc. (NYSE:AFG)

Fifth Third Bancorp lessened its stake in American Financial Group, Inc. (NYSE:AFGGet Rating) by 63.4% during the third quarter, HoldingsChannel reports. The firm owned 816 shares of the insurance provider’s stock after selling 1,415 shares during the period. Fifth Third Bancorp’s holdings in American Financial Group were worth $100,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of American Financial Group by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 7,544,354 shares of the insurance provider’s stock worth $1,098,609,000 after purchasing an additional 313,115 shares during the period. Bishop Rock Capital L.P. raised its holdings in shares of American Financial Group by 5,124.6% in the 2nd quarter. Bishop Rock Capital L.P. now owns 5,607,646 shares of the insurance provider’s stock worth $40,398,000 after purchasing an additional 5,500,315 shares during the period. American Financial Group Inc. 401 K Retirement & Savings Plan raised its holdings in shares of American Financial Group by 4.3% in the 2nd quarter. American Financial Group Inc. 401 K Retirement & Savings Plan now owns 2,848,092 shares of the insurance provider’s stock worth $395,344,000 after purchasing an additional 118,546 shares during the period. Wellington Management Group LLP raised its holdings in shares of American Financial Group by 4.8% in the 1st quarter. Wellington Management Group LLP now owns 721,310 shares of the insurance provider’s stock worth $105,037,000 after purchasing an additional 32,914 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of American Financial Group by 4.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 715,451 shares of the insurance provider’s stock worth $99,311,000 after purchasing an additional 32,825 shares during the period. Institutional investors own 64.04% of the company’s stock.

Insider Activity

In other news, insider John B. Berding sold 4,000 shares of the business’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $148.87, for a total transaction of $595,480.00. Following the completion of the transaction, the insider now directly owns 36,083 shares in the company, valued at approximately $5,371,676.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider John B. Berding sold 4,000 shares of the business’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $148.87, for a total transaction of $595,480.00. Following the completion of the transaction, the insider now directly owns 36,083 shares in the company, valued at approximately $5,371,676.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John B. Berding sold 12,745 shares of the business’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $146.24, for a total transaction of $1,863,828.80. Following the transaction, the insider now owns 36,083 shares of the company’s stock, valued at $5,276,777.92. The disclosure for this sale can be found here. Company insiders own 14.60% of the company’s stock.

Analyst Ratings Changes

AFG has been the topic of a number of research reports. StockNews.com started coverage on shares of American Financial Group in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Morgan Stanley boosted their target price on shares of American Financial Group from $146.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, November 22nd. Finally, Piper Sandler boosted their target price on shares of American Financial Group from $162.00 to $168.00 and gave the company an “overweight” rating in a report on Tuesday.

American Financial Group Trading Up 0.7 %

Shares of AFG stock opened at $141.22 on Friday. The company’s fifty day simple moving average is $139.64 and its two-hundred day simple moving average is $134.64. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.46 and a quick ratio of 0.46. American Financial Group, Inc. has a 1 year low of $119.01 and a 1 year high of $152.29. The stock has a market capitalization of $12.02 billion, a price-to-earnings ratio of 12.31 and a beta of 0.83.

American Financial Group (NYSE:AFGGet Rating) last released its quarterly earnings results on Wednesday, November 2nd. The insurance provider reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.04. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.51 billion. American Financial Group had a net margin of 14.22% and a return on equity of 24.41%. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.71 EPS. As a group, analysts anticipate that American Financial Group, Inc. will post 11.6 earnings per share for the current year.

American Financial Group Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Friday, January 13th will be given a dividend of $0.63 per share. The ex-dividend date is Thursday, January 12th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.78%. American Financial Group’s dividend payout ratio (DPR) is currently 21.97%.

About American Financial Group

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding AFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Financial Group, Inc. (NYSE:AFGGet Rating).

Institutional Ownership by Quarter for American Financial Group (NYSE:AFG)

Receive News & Ratings for American Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.