American Financial Group, Inc. $AFG Shares Sold by KBC Group NV

Key Points

• KBC Group NV cut its American Financial Group stake by 87.9% in the first quarter, selling 13,627 shares and retaining 1,882 shares worth approximately $240,000. Institutional investors and hedge funds collectively own 64.37% of AFG.
• Analysts maintain a generally neutral outlook, with an average rating of “Hold” and a $150.75 price target; Wells Fargo recently raised its target to $173 and assigned an “overweight” rating.
• AFG reported quarterly EPS of $2.47, below the $2.54 consensus estimate, while revenue of $1.85 billion exceeded expectations. The company also paid a quarterly dividend of $0.88, representing a 2.5% annualized yield.

KBC Group NV reduced its stake in American Financial Group, Inc. (NYSE:AFG - Free Report) by 87.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,882 shares of the insurance provider's stock after selling 13,627 shares during the quarter. KBC Group NV's holdings in American Financial Group were worth $240,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AFG. Global Retirement Partners LLC increased its position in American Financial Group by 904.8% during the 4th quarter. Global Retirement Partners LLC now owns 211 shares of the insurance provider's stock worth $29,000 after purchasing an additional 190 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in American Financial Group by 87.7% in the 4th quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider's stock valued at $35,000 after purchasing an additional 121 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in American Financial Group in the 4th quarter valued at about $45,000. CIBC Private Wealth Group LLC boosted its stake in shares of American Financial Group by 86.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 376 shares of the insurance provider's stock worth $51,000 after purchasing an additional 174 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of American Financial Group during the 4th quarter worth about $52,000. Institutional investors and hedge funds own 64.37% of the company's stock.

Wall Street Analysts Forecast Growth

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

American Financial Group Stock Performance

NYSE AFG opened at $143.51 on Monday. The business's 50-day moving average price is $136.83 and its 200 day moving average price is $132.52. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.39. American Financial Group, Inc. has a twelve month low of $122.11 and a twelve month high of $150.02. The company has a market capitalization of $11.92 billion, a PE ratio of 13.64 and a beta of 0.62.

American Financial Group (NYSE:AFG - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The insurance provider reported $2.47 EPS for the quarter, missing the consensus estimate of $2.54 by ($0.07). American Financial Group had a net margin of 10.76% and a return on equity of 19.50%. The business had revenue of $1.85 billion during the quarter, compared to analysts' expectations of $1.70 billion. During the same quarter last year, the firm earned $1.81 EPS. The firm's quarterly revenue was down .1% compared to the same quarter last year. On average, research 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 announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Wednesday, July 15th were given a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. American Financial Group's dividend payout ratio (DPR) is currently 33.46%.

Insider Buying and Selling

In related news, SVP Michelle A. Gillis sold 2,247 shares of the business'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 completion of the sale, the senior vice president directly owned 13,135 shares in the company, valued at approximately $1,825,765. The trade was a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of the company's stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $135.05, for a total transaction of $1,535,518.50. Following the transaction, the insider directly owned 584,098 shares of the company's stock, valued at $78,882,434.90. This trade represents a 1.91% decrease in their position. The disclosure for this sale is available in the SEC filing. 16.90% of the stock is currently owned by insiders.

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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