American Financial Group, Inc. $AFG Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management trimmed its stake in American Financial Group by 26.5% in Q4, selling 9,391 shares and leaving 26,046 shares valued at about $3.56 million.
• AFG's most recent quarter showed $2.47 EPS (missed by $0.07) while revenue of $1.83 billion beat expectations; the company has a market cap near $10.9 billion and a PE of 12.49.
• The CFO sold 1,663 shares (a 12.11% reduction) and insiders now own 16.9% of the stock, while analysts are mixed with a consensus "Hold" and a $143 average target amid varied price-target changes from firms like Piper Sandler, KBW, Weiss and Wells Fargo.

Pictet Asset Management Holding SA trimmed its stake in American Financial Group, Inc. (NYSE:AFG - Free Report) by 26.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 26,046 shares of the insurance provider's stock after selling 9,391 shares during the period. Pictet Asset Management Holding SA's holdings in American Financial Group were worth $3,560,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada raised its position in American Financial Group by 11.1% in the first quarter. Royal Bank of Canada now owns 75,421 shares of the insurance provider's stock valued at $9,905,000 after purchasing an additional 7,554 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of American Financial Group during the first quarter worth $2,330,000. Jones Financial Companies Lllp grew its stake in shares of American Financial Group by 145.8% in the first quarter. Jones Financial Companies Lllp now owns 1,278 shares of the insurance provider's stock valued at $168,000 after buying an additional 758 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of American Financial Group by 144.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 793 shares of the insurance provider's stock valued at $100,000 after buying an additional 469 shares during the period. Finally, Cerity Partners LLC raised its holdings in shares of American Financial Group by 62.4% in the 2nd quarter. Cerity Partners LLC now owns 2,941 shares of the insurance provider's stock valued at $371,000 after buying an additional 1,130 shares during the period. Hedge funds and other institutional investors own 64.37% of the company's stock.

Insiders Place Their Bets

In related news, CFO Brian S. Hertzman sold 1,663 shares of American Financial Group stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $133.70, for a total value of $222,343.10. Following the completion of the transaction, the chief financial officer owned 12,073 shares in the company, valued at $1,614,160.10. The trade was a 12.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AFG. Piper Sandler raised their target price on American Financial Group from $129.00 to $135.00 and gave the company a "neutral" rating in a report on Friday. Keefe, Bruyette & Woods increased their price target on shares of American Financial Group from $134.00 to $140.00 and gave the stock a "market perform" rating in a research report on Wednesday, March 25th. Weiss Ratings raised shares of American Financial Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 16th. Finally, Wells Fargo & Company dropped their price objective on shares of American Financial Group from $160.00 to $155.00 and set an "overweight" rating for the company in a report on Thursday, April 9th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $143.00.

American Financial Group Trading Down 0.2%

NYSE:AFG opened at $131.37 on Monday. American Financial Group, Inc. has a 12-month low of $120.52 and a 12-month high of $150.02. The firm has a market cap of $10.91 billion, a PE ratio of 12.49 and a beta of 0.65. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.38. The stock has a fifty day moving average price of $129.81 and a 200 day moving average price of $132.41.

American Financial Group (NYSE:AFG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.54 by ($0.07). The company had revenue of $1.83 billion for the quarter, compared to analysts' expectations of $1.70 billion. American Financial Group had a return on equity of 19.49% and a net margin of 10.76%.American Financial Group's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $1.81 EPS. Sell-side analysts anticipate that American Financial Group, Inc. will post 10.98 earnings per share for the current fiscal year.

American Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Wednesday, April 15th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Wednesday, April 15th. American Financial Group's dividend payout ratio is presently 33.46%.

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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