American Financial Group, Inc. $AFG Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in American Financial Group by 89% in the first quarter, selling 19,800 shares and leaving it with 2,458 shares worth about $314,000.
• American Financial Group reported Q1 EPS of $2.47, missing analyst estimates, but revenue of $1.85 billion came in above expectations. The company also posted a 19.5% return on equity and expects full-year EPS of 11.37.
• The insurer declared a quarterly dividend of $0.88 per share, payable July 24, implying a 2.5% yield. Analysts currently have a consensus Hold rating and a $145 price target on the stock.

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its position in American Financial Group, Inc. (NYSE:AFG - Free Report) by 89.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,458 shares of the insurance provider's stock after selling 19,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in American Financial Group were worth $314,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of AFG. Dimensional Fund Advisors LP lifted its position in American Financial Group by 10.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,127,518 shares of the insurance provider's stock valued at $164,293,000 after buying an additional 110,872 shares in the last quarter. UBS Group AG increased its position in shares of American Financial Group by 10.1% in the fourth quarter. UBS Group AG now owns 581,805 shares of the insurance provider's stock worth $79,521,000 after acquiring an additional 53,431 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of American Financial Group by 32.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 407,772 shares of the insurance provider's stock valued at $59,421,000 after acquiring an additional 99,898 shares during the period. Capula Management Ltd purchased a new position in shares of American Financial Group in the 3rd quarter valued at $2,087,000. Finally, Louisiana State Employees Retirement System acquired a new position in shares of American Financial Group during the 1st quarter valued at $2,567,000. 64.37% of the stock is owned by institutional investors and hedge funds.

American Financial Group Price Performance

AFG opened at $141.94 on Tuesday. American Financial Group, Inc. has a twelve month low of $122.11 and a twelve month high of $150.02. The firm has a market cap of $11.79 billion, a price-to-earnings ratio of 13.49 and a beta of 0.62. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.39. The company has a fifty day simple moving average of $134.14 and a 200 day simple moving average of $132.12.

American Financial Group (NYSE:AFG - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The insurance provider reported $2.47 EPS for the quarter, missing analysts' consensus estimates of $2.54 by ($0.07). The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.70 billion. American Financial Group had a return on equity of 19.50% and a net margin of 10.76%.The business's quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.81 EPS. Equities research analysts expect that American Financial Group, Inc. will post 11.37 EPS for the current fiscal year.

American Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Wednesday, July 15th will be paid a $0.88 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. American Financial Group's payout ratio is 33.46%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at American Financial Group

In related news, insider David Lawrence Thompson, Jr. sold 11,370 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was 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 of the company's stock, valued at approximately $78,882,434.90. This represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Michelle A. Gillis sold 2,247 shares of the firm's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $139.00, for a total value of $312,333.00. Following the sale, the senior vice president 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 SEC filing for this sale provides additional information. Corporate insiders own 16.90% of the company's stock.

American Financial Group Company 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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