American Financial Group, Inc. $AFG Shares Bought by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in American Financial Group by 72.1% in the fourth quarter, adding 40,888 shares to reach 97,590 shares worth about $13.35 million.
• Analysts are mixed on AFG: the stock has a consensus Hold rating with an average price target of $145, while recent firms such as Wells Fargo and Piper Sandler raised their targets.
• American Financial Group reported Q1 earnings of $2.47 per share, missing estimates but beating revenue expectations, and it also pays a quarterly dividend of $0.88 per share for a 2.6% yield.

Hsbc Holdings PLC grew its stake in American Financial Group, Inc. (NYSE:AFG - Free Report) by 72.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,590 shares of the insurance provider's stock after acquiring an additional 40,888 shares during the quarter. Hsbc Holdings PLC owned about 0.12% of American Financial Group worth $13,346,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Victory Capital Management Inc. lifted its holdings in American Financial Group by 12.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,963,942 shares of the insurance provider's stock valued at $431,906,000 after purchasing an additional 337,573 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of American Financial Group by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,567,721 shares of the insurance provider's stock worth $350,956,000 after buying an additional 57,246 shares in the last quarter. Geode Capital Management LLC raised its position in shares of American Financial Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 1,732,557 shares of the insurance provider's stock valued at $236,645,000 after buying an additional 29,731 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of American Financial Group by 12.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,266,001 shares of the insurance provider's stock valued at $173,045,000 after buying an additional 138,483 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of American Financial Group by 33.2% during the third quarter. Northern Trust Corp now owns 1,026,783 shares of the insurance provider's stock valued at $149,623,000 after buying an additional 255,693 shares during the period. Institutional investors and hedge funds own 64.37% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Weiss Ratings restated a "buy (b-)" rating on shares of American Financial Group in a research report on Thursday, June 11th. Wells Fargo & Company boosted their price target on American Financial Group from $155.00 to $158.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Piper Sandler increased their price target on American Financial Group from $135.00 to $140.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods raised their price objective on American Financial Group from $134.00 to $140.00 and gave the stock a "market perform" rating in a report on Wednesday, March 25th. Two 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, the company currently has a consensus rating of "Hold" and an average target price of $145.00.

Insiders Place Their Bets

In related news, SVP Michelle A. Gillis sold 2,247 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $139.00, for a total value of $312,333.00. Following the transaction, the senior vice president directly owned 13,135 shares of the company's stock, valued at approximately $1,825,765. This trade represents a 14.61% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of American Financial Group stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $135.05, for a total value of $1,535,518.50. Following the completion of the transaction, the insider owned 584,098 shares in the company, valued at $78,882,434.90. The trade was a 1.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 16.90% of the stock is owned by company insiders.

American Financial Group Trading Down 1.8%

NYSE AFG opened at $135.77 on Friday. American Financial Group, Inc. has a 12 month low of $122.11 and a 12 month high of $150.02. The company has a 50-day moving average of $132.71 and a 200-day moving average of $131.82. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.48 and a quick ratio of 0.48. The company has a market cap of $11.28 billion, a P/E ratio of 12.91 and a beta of 0.64.

American Financial Group (NYSE:AFG - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The insurance provider reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.54 by ($0.07). American Financial Group had a return on equity of 19.50% and a net margin of 10.76%.The company had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.70 billion. During the same quarter in the previous year, the company earned $1.81 earnings per share. The company's revenue was down .1% on a year-over-year basis. As a group, equities analysts predict that American Financial Group, Inc. will post 11.37 earnings per share for the current year.

American Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Wednesday, April 15th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Wednesday, April 15th. American Financial Group's dividend payout ratio (DPR) is 33.46%.

American Financial Group Profile

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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