Truist Financial Corp Boosts Holdings in American Financial Group, Inc. (NYSE:AFG)

Truist Financial Corp lifted its position in shares of American Financial Group, Inc. (NYSE:AFGGet Rating) by 25.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,052 shares of the insurance provider’s stock after buying an additional 1,818 shares during the quarter. Truist Financial Corp’s holdings in American Financial Group were worth $1,112,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AFG. Bishop Rock Capital L.P. grew its holdings in shares of American Financial Group by 5,124.6% during the second quarter. Bishop Rock Capital L.P. now owns 5,607,646 shares of the insurance provider’s stock worth $40,398,000 after buying an additional 5,500,315 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of American Financial Group by 4.3% during the first quarter. Vanguard Group Inc. now owns 7,544,354 shares of the insurance provider’s stock worth $1,098,609,000 after buying an additional 313,115 shares in the last quarter. Bain Capital Public Equity Management II LLC purchased a new stake in shares of American Financial Group during the second quarter worth about $43,458,000. Prudential Financial Inc. grew its holdings in shares of American Financial Group by 253.0% during the second quarter. Prudential Financial Inc. now owns 297,976 shares of the insurance provider’s stock worth $41,361,000 after buying an additional 213,563 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of American Financial Group by 70.2% during the second quarter. Millennium Management LLC now owns 405,373 shares of the insurance provider’s stock worth $56,270,000 after buying an additional 167,239 shares in the last quarter. 64.04% of the stock is currently owned by hedge funds and other institutional investors.

American Financial Group Trading Down 1.5 %

Shares of AFG stock opened at $137.31 on Friday. The stock has a market cap of $11.69 billion, a price-to-earnings ratio of 11.97 and a beta of 0.83. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.39. American Financial Group, Inc. has a fifty-two week low of $119.01 and a fifty-two week high of $152.29. The firm’s 50 day moving average price is $138.98 and its two-hundred day moving average price is $134.72.

American Financial Group (NYSE:AFGGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The insurance provider reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.04. The company had revenue of $1.77 billion for 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 quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.71 earnings per share. On average, analysts anticipate that American Financial Group, Inc. will post 11.6 EPS for the current year.

American Financial Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Friday, January 13th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, January 12th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.84%. American Financial Group’s dividend payout ratio is currently 21.97%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AFG shares. StockNews.com started coverage on shares of American Financial Group in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Morgan Stanley raised their target price on shares of American Financial Group from $146.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 22nd. BMO Capital Markets started coverage on shares of American Financial Group in a research report on Thursday. They issued a “market perform” rating on the stock. Finally, Piper Sandler raised their target price on shares of American Financial Group from $162.00 to $168.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 10th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $165.33.

Insider Activity

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

American Financial Group Company Profile

(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.

Further Reading

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

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