Alliancebernstein L.P. Cuts Holdings in American Financial Group, Inc. $AFG

Key Points

• Alliancebernstein L.P. has reduced its holdings in American Financial Group, Inc. by 4.2%, currently owning approximately 1.22% of the company, valued at $134.4 million.
• American Financial Group reported a quarterly EPS of $2.14, exceeding estimates, but its revenue of $1.65 billion fell short of projections.
• Corporate insiders hold 17.40% of American Financial Group's stock, with recent insider selling noted, including 10,000 shares sold by Director Stephen Craig Lindner, Jr.

Alliancebernstein L.P. lessened its holdings in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,023,117 shares of the insurance provider's stock after selling 44,993 shares during the quarter. Alliancebernstein L.P. owned approximately 1.22% of American Financial Group worth $134,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Private Trust Co. NA lifted its stake in shares of American Financial Group by 144.3% during the 1st quarter. Private Trust Co. NA now owns 215 shares of the insurance provider's stock valued at $28,000 after buying an additional 127 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of American Financial Group during the 1st quarter valued at $34,000. Lazard Asset Management LLC purchased a new position in shares of American Financial Group during the 4th quarter valued at $53,000. Headlands Technologies LLC purchased a new position in shares of American Financial Group during the 1st quarter valued at $55,000. Finally, Costello Asset Management INC purchased a new position in shares of American Financial Group during the 1st quarter valued at $68,000. Hedge funds and other institutional investors own 64.37% of the company's stock.

Insider Activity

In related news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the firm's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $134.31, for a total transaction of $1,343,100.00. Following the completion of the transaction, the director owned 326,730 shares of the company's stock, valued at $43,883,106.30. This trade represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 17.40% of the stock is currently owned by company insiders.

American Financial Group Stock Performance

Shares of American Financial Group stock traded down $1.28 during midday trading on Wednesday, hitting $137.10. The company had a trading volume of 120,981 shares, compared to its average volume of 496,170. The company has a fifty day simple moving average of $129.98 and a 200 day simple moving average of $126.95. The stock has a market cap of $11.43 billion, a price-to-earnings ratio of 15.06 and a beta of 0.73. American Financial Group, Inc. has a 12-month low of $114.73 and a 12-month high of $150.19. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.33.

American Financial Group (NYSE:AFG - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The insurance provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.06. The business had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.77 billion. American Financial Group had a net margin of 9.21% and a return on equity of 17.41%. The business's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company posted $2.56 earnings per share. As a group, analysts predict that American Financial Group, Inc. will post 10.5 earnings per share for the current fiscal year.

American Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Tuesday, July 15th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, July 15th. American Financial Group's dividend payout ratio (DPR) is 35.16%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Jefferies Financial Group boosted their target price on shares of American Financial Group from $125.00 to $130.00 and gave the stock a "hold" rating in a report on Monday, August 11th. Wall Street Zen downgraded shares of American Financial Group from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Finally, Keefe, Bruyette & Woods cut their price target on shares of American Financial Group from $127.00 to $124.00 and set a "market perform" rating on the stock in a report on Tuesday, August 12th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $136.75.

American Financial Group Profile

American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. The company 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.