American Financial Group (NYSE:AFG) VP Mark Weiss Sells 2,813 Shares

Key Points

• American Financial Group VP Mark Weiss sold 2,813 shares at an average price of $144.76, totaling $407,209.88. His remaining stake fell 29.73% to 6,648 shares.
• AFG reported stronger-than-expected quarterly results, with EPS of $2.82 versus the $2.32 consensus estimate and revenue of $2.03 billion, up 5.5% year over year.
• The company maintains a quarterly dividend of $0.88, or $3.52 annually, yielding about 2.4%. Analysts have a consensus “Hold” rating and an average price target of $150.75.

American Financial Group, Inc. (NYSE:AFG - Get Free Report) VP Mark Weiss sold 2,813 shares of American Financial Group stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $144.76, for a total transaction of $407,209.88. Following the completion of the sale, the vice president owned 6,648 shares in the company, valued at approximately $962,364.48. This represents a 29.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

American Financial Group Price Performance

Shares of AFG traded down $1.07 during midday trading on Friday, hitting $145.66. 271,782 shares of the company traded hands, compared to its average volume of 555,575. The firm has a 50 day moving average of $138.21 and a 200-day moving average of $133.25. American Financial Group, Inc. has a 52 week low of $123.09 and a 52 week high of $150.02. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of 12.73 and a beta of 0.62. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.48 and a current ratio of 0.48.

American Financial Group (NYSE:AFG - Get Free Report) last issued its earnings results on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.50. American Financial Group had a return on equity of 20.43% and a net margin of 11.51%.The firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $1.85 billion. During the same period in the previous year, the firm posted $2.14 earnings per share. The business's revenue was up 5.5% compared to the same quarter last year. On average, analysts forecast that American Financial Group, Inc. will post 11.37 EPS for the current fiscal year.

American Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Wednesday, July 15th were issued a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.4%. American Financial Group's dividend payout ratio (DPR) is 30.77%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AFG shares. Keefe, Bruyette & Woods upped their price target on shares of American Financial Group from $140.00 to $148.00 and gave the company a "market perform" rating in a research note on Wednesday, July 8th. Wells Fargo & Company increased their price target on shares of American Financial Group from $158.00 to $173.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Weiss Ratings reiterated a "buy (b-)" rating on shares of American Financial Group in a research report on Thursday, June 11th. Finally, Piper Sandler upped their price objective on American Financial Group from $135.00 to $140.00 and gave the company a "neutral" rating in a research report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, American Financial Group has a consensus rating of "Hold" and a consensus target price of $150.75.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AFG. BlackRock Inc. purchased a new position in American Financial Group during the 2nd quarter worth $1,079,329,000. Norges Bank purchased a new stake in shares of American Financial Group in the 4th quarter worth $114,661,000. Bank of New York Mellon Corp bought a new position in shares of American Financial Group during the 2nd quarter worth $102,590,000. M&T Bank Corp grew its position in shares of American Financial Group by 20,131.5% during the 4th quarter. M&T Bank Corp now owns 637,090 shares of the insurance provider's stock worth $87,077,000 after buying an additional 633,941 shares in the last quarter. Finally, Vestor Capital LLC increased its stake in shares of American Financial Group by 100,006.8% during the fourth quarter. Vestor Capital LLC now owns 600,641 shares of the insurance provider's stock valued at $82,096,000 after buying an additional 600,041 shares during the period. 64.37% of the stock is currently owned by institutional investors.

About American Financial Group

American Financial Group, Inc NYSE: AFG is a diversified holding company primarily engaged in property and casualty insurance and reinsurance. Through its flagship subsidiary, Great American Insurance Company, the firm underwrites a broad range of specialty insurance products for commercial and industrial clients, including inland marine, excess and surplus lines, executive liability, and environmental liability coverage. In addition, American Financial Group offers supplemental accident and health insurance and assumes reinsurance risks from other insurers, helping to diversify its underwriting portfolio.

The company traces its roots to 1946, when it was founded by Carl Lindner, Sr.

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