American Financial Group, Inc. $AFG Stock Position Decreased by Korea Investment CORP

Key Points

• Korea Investment CORP reduced its stake in American Financial Group by 26.8% during the first quarter, owning 21,288 shares worth approximately $2.8 million after selling 7,800 shares.
• Institutional investors collectively own 64.37% of American Financial Group, with notable increases from several hedge funds, including a 395.5% increase by Charles Schwab Investment Management.
• A recent analysis by Wall Street Zen upgraded the stock rating from "sell" to "hold", with a consensus target price of $136.75 based on four analysts' assessments.

Korea Investment CORP lowered its position in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 26.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,288 shares of the insurance provider's stock after selling 7,800 shares during the quarter. Korea Investment CORP's holdings in American Financial Group were worth $2,796,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AFG. Charles Schwab Investment Management Inc. boosted its stake in American Financial Group by 395.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,520,714 shares of the insurance provider's stock valued at $331,071,000 after buying an additional 2,012,027 shares in the last quarter. Nuveen LLC bought a new position in American Financial Group during the first quarter valued at about $30,442,000. Northern Trust Corp boosted its stake in American Financial Group by 35.8% during the fourth quarter. Northern Trust Corp now owns 802,069 shares of the insurance provider's stock valued at $109,827,000 after buying an additional 211,630 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in American Financial Group during the fourth quarter valued at about $20,675,000. Finally, SG Americas Securities LLC boosted its stake in American Financial Group by 6,414.6% during the first quarter. SG Americas Securities LLC now owns 129,967 shares of the insurance provider's stock valued at $17,070,000 after buying an additional 127,972 shares in the last quarter. Institutional investors own 64.37% of the company's stock.

Insider Buying and Selling at American Financial Group

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

American Financial Group Stock Down 0.5%

NYSE AFG traded down $0.70 during trading on Friday, reaching $135.88. 364,346 shares of the company's stock were exchanged, compared to its average volume of 459,477. American Financial Group, Inc. has a fifty-two week low of $114.73 and a fifty-two week high of $150.19. The firm has a market capitalization of $11.33 billion, a PE ratio of 14.93 and a beta of 0.74. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.33. The company's fifty day simple moving average is $128.24 and its 200-day simple moving average is $126.20.

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

American Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Tuesday, July 15th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.4%. American Financial Group's dividend payout ratio (DPR) is 35.16%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods decreased their target price on American Financial Group from $127.00 to $124.00 and set a "market perform" rating for the company in a research note on Tuesday, August 12th. Wall Street Zen raised American Financial Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Jefferies Financial Group lifted their price target on American Financial Group from $125.00 to $130.00 and gave the stock a "hold" rating in a research note on Monday, August 11th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average 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.