Amalgamated Bank decreased its holdings in American Financial Group, Inc. (NYSE:AFG – Free Report) by 4.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,503 shares of the insurance provider’s stock after selling 2,117 shares during the period. Amalgamated Bank owned about 0.05% of American Financial Group worth $4,858,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Money Concepts Capital Corp acquired a new position in American Financial Group during the fourth quarter worth about $35,000. Ronald Blue Trust Inc. grew its stake in American Financial Group by 44.8% during the 3rd quarter. Ronald Blue Trust Inc. now owns 323 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new position in American Financial Group during the 4th quarter worth approximately $52,000. AXS Investments LLC bought a new stake in shares of American Financial Group in the 2nd quarter worth approximately $55,000. Finally, UniSuper Management Pty Ltd bought a new stake in American Financial Group during the 2nd quarter valued at $59,000. Institutional investors and hedge funds own 63.50% of the company’s stock.
Insider Transactions at American Financial Group
In related news, Director William W. Verity sold 2,274 shares of the business’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $120.26, for a total transaction of $273,471.24. Following the transaction, the director now directly owns 10,457 shares in the company, valued at $1,257,558.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Amy Y. Murray sold 850 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $118.15, for a total value of $100,427.50. Following the sale, the director now directly owns 909 shares in the company, valued at approximately $107,398.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William W. Verity sold 2,274 shares of the company’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $120.26, for a total value of $273,471.24. Following the transaction, the director now directly owns 10,457 shares in the company, valued at approximately $1,257,558.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,539 shares of company stock worth $423,267. Company insiders own 14.60% of the company’s stock.
American Financial Group Price Performance
American Financial Group (NYSE:AFG – Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.67 billion. American Financial Group had a return on equity of 22.53% and a net margin of 10.89%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.99 earnings per share. On average, equities research analysts predict that American Financial Group, Inc. will post 11.48 EPS for the current fiscal year.
American Financial Group Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 25th. Stockholders of record on Monday, January 15th were paid a $0.71 dividend. The ex-dividend date of this dividend was Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.32%. American Financial Group’s payout ratio is presently 28.26%.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the company. Piper Sandler cut American Financial Group from an “overweight” rating to a “neutral” rating and set a $129.00 target price on the stock. in a report on Thursday. Citigroup lifted their price objective on American Financial Group from $125.00 to $131.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Finally, Janney Montgomery Scott initiated coverage on American Financial Group in a research report on Thursday, December 14th. They set a “buy” rating and a $135.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $128.75.
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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