American Financial Group, Inc. $AFG Stock Holdings Cut by Amundi

Key Points

• Amundi reduced its American Financial Group stake by 98% in the first quarter, selling 143,820 shares and retaining 2,981 shares valued at approximately $381,000. Institutional investors overall own 64.37% of AFG.
• American Financial Group reported quarterly EPS of $2.82, beating estimates by $0.50, while revenue rose 5.5% year over year to $2.03 billion. The company also maintains a quarterly dividend of $0.88 per share, yielding about 2.4% annually.
• Analysts have a consensus “Hold” rating and a $156 price target, while AFG recently traded at $144.58. Several firms raised their price targets, although insiders have sold more than 16,000 shares over the past 90 days.

Amundi cut its position in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 98.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 2,981 shares of the insurance provider's stock after selling 143,820 shares during the quarter. Amundi's holdings in American Financial Group were worth $381,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Cassaday & Co Wealth Management LLC acquired a new stake in American Financial Group in the 1st quarter valued at about $26,000. Global Retirement Partners LLC boosted its position in shares of American Financial Group by 904.8% during the 4th quarter. Global Retirement Partners LLC now owns 211 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 190 shares in the last quarter. Clearstead Advisors LLC grew its stake in shares of American Financial Group by 87.7% in the 4th quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider's stock worth $35,000 after purchasing an additional 121 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of American Financial Group in the 4th quarter worth approximately $45,000. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of American Financial Group by 86.1% in 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 in the last quarter. Institutional investors own 64.37% of the company's stock.

American Financial Group Stock Performance

American Financial Group stock opened at $144.58 on Thursday. American Financial Group, Inc. has a fifty-two week low of $123.09 and a fifty-two week high of $150.02. The firm's 50 day simple moving average is $139.45 and its 200-day simple moving average is $133.64. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.49 and a quick ratio of 0.49. The company has a market cap of $11.99 billion, a P/E ratio of 12.64 and a beta of 0.62.

American Financial Group (NYSE:AFG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The insurance provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.32 by $0.50. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.85 billion. American Financial Group had a net margin of 11.51% and a return on equity of 20.35%. The firm's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.14 EPS. As a group, equities research analysts predict that American Financial Group, Inc. will post 11.62 EPS for the current year.

American Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Wednesday, July 15th were issued a dividend of $0.88 per share. The ex-dividend date was Wednesday, July 15th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.4%. American Financial Group's payout ratio is currently 30.77%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AFG. Keefe, Bruyette & Woods lifted their price target on shares of American Financial Group from $148.00 to $153.00 and gave the stock a "market perform" rating in a research report on Tuesday. Wells Fargo & Company upped their price target on American Financial Group from $158.00 to $173.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Weiss Ratings upgraded American Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday. Finally, Piper Sandler raised their price objective on American Financial Group from $140.00 to $156.00 and gave the stock a "neutral" rating in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $156.00.

Insider Activity at American Financial Group

In other American Financial Group news, VP Mark A. Weiss sold 2,813 shares of the firm's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $144.76, for a total transaction of $407,209.88. Following the completion of the sale, the vice president directly owned 6,648 shares in the company, valued at approximately $962,364.48. This trade represents a 29.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of American Financial Group stock in a transaction dated 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 transaction, the insider directly owned 584,098 shares in the company, valued at approximately $78,882,434.90. This trade represents a 1.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 16,430 shares of company stock valued at $2,255,061. Company insiders own 16.90% of the company's stock.

About American Financial Group

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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