US Bancorp DE lessened its holdings in American Financial Group, Inc. (NYSE:AFG – Get Rating) by 4.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,141 shares of the insurance provider’s stock after selling 287 shares during the period. US Bancorp DE’s holdings in American Financial Group were worth $754,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. grew its position in American Financial Group by 5,400.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 220 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 216 shares in the last quarter. McIlrath & Eck LLC bought a new stake in American Financial Group in the 2nd quarter worth about $42,000. Ronald Blue Trust Inc. grew its position in American Financial Group by 166.9% in the 3rd quarter. Ronald Blue Trust Inc. now owns 331 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 207 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in American Financial Group in the 3rd quarter worth about $49,000. Finally, Hexagon Capital Partners LLC bought a new stake in American Financial Group in the 3rd quarter worth about $51,000. Institutional investors and hedge funds own 64.04% of the company’s stock.
Insider Buying and Selling
In related news, insider John B. Berding sold 12,745 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 36,083 shares of the company’s stock, valued at approximately $5,276,777.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other American Financial Group news, insider John B. Berding sold 4,000 shares of the stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $148.87, for a total value of $595,480.00. Following the sale, the insider now directly owns 36,083 shares in the company, valued at approximately $5,371,676.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John B. Berding sold 12,745 shares of the stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $146.24, for a total transaction 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 disclosure for this sale can be found here. 14.60% of the stock is owned by insiders.
American Financial Group Stock Down 0.5 %
American Financial Group (NYSE:AFG – Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The insurance provider reported $2.24 EPS for the quarter, topping the consensus estimate of $2.20 by $0.04. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.51 billion. American Financial Group had a net margin of 14.22% and a return on equity of 24.41%. American Financial Group’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period last year, the firm earned $2.71 EPS. As a group, equities analysts predict that American Financial Group, Inc. will post 11.6 EPS for the current year.
American Financial Group Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Friday, January 13th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Thursday, January 12th. American Financial Group’s dividend payout ratio (DPR) is presently 21.97%.
Analysts Set New Price Targets
A number of brokerages have issued reports on AFG. Piper Sandler upped their price objective 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. Morgan Stanley increased 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 research report on Tuesday, November 22nd. StockNews.com started coverage on shares of American Financial Group in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, BMO Capital Markets started coverage on shares of American Financial Group in a research report on Thursday. They set a “market perform” rating and a $155.00 target price for the company. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $162.75.
American Financial Group Company Profile
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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