Amundi Has $2.38 Million Stake in American Financial Group, Inc. $AFG

Key Points

• Amundi increased its American Financial Group stake by 469.4% in the second quarter, bringing its holdings to 16,974 shares valued at approximately $2.38 million. Institutional investors collectively own 64.37% of AFG.
• American Financial Group reported quarterly EPS of $2.82, exceeding estimates of $2.32, while revenue rose 5.5% year over year to $2.03 billion. The company maintains a $0.88 quarterly dividend, equivalent to a 2.5% annual yield.
• Analyst sentiment remains mixed, with two Buy ratings and three Holds; the stock has an average rating of Hold and an average price target of $156, compared with its $141.88 opening price.

Amundi raised its stake in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 469.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,974 shares of the insurance provider's stock after buying an additional 13,993 shares during the period. Amundi's holdings in American Financial Group were worth $2,375,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in American Financial Group in the 2nd quarter worth approximately $2,715,000. California State Teachers Retirement System raised its position in shares of American Financial Group by 13,419.0% in the second quarter. California State Teachers Retirement System now owns 10,769,223 shares of the insurance provider's stock valued at $1,507,045,000 after purchasing an additional 10,689,563 shares during the period. HB Wealth Management LLC raised its position in shares of American Financial Group by 69.5% in the second quarter. HB Wealth Management LLC now owns 4,299 shares of the insurance provider's stock valued at $602,000 after purchasing an additional 1,762 shares during the period. Nilsine Partners LLC acquired a new stake in shares of American Financial Group in the second quarter worth $1,564,000. Finally, AlphaGrep UK Ltd acquired a new stake in shares of American Financial Group in the second quarter worth $426,000. Institutional investors and hedge funds own 64.37% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AFG shares. Keefe, Bruyette & Woods lifted their target price on shares of American Financial Group from $148.00 to $153.00 and gave the stock a "market perform" rating in a report on Tuesday, August 11th. Wall Street Zen cut shares of American Financial Group from a "buy" rating to a "hold" rating in a report on Saturday. Wells Fargo & Company raised their price target on American Financial Group from $158.00 to $173.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Piper Sandler lifted 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, August 10th. Finally, Weiss Ratings raised American Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, American Financial Group currently has an average rating of "Hold" and an average target price of $156.00.

American Financial Group Stock Down 0.1%

NYSE AFG opened at $141.88 on Monday. American Financial Group, Inc. has a twelve month low of $123.09 and a twelve month high of $150.02. The stock has a market cap of $11.77 billion, a PE ratio of 12.40 and a beta of 0.60. The firm has a 50-day simple moving average of $142.96 and a 200 day simple moving average of $135.85. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.49 and a current ratio of 0.49.

American Financial Group (NYSE:AFG - Get Free Report) last posted 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 firm had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $1.85 billion. American Financial Group had a return on equity of 20.35% and a net margin of 11.51%.The company's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.14 EPS. On average, research analysts forecast that American Financial Group, Inc. will post 12.13 EPS for the current year.

American Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Wednesday, July 15th were paid a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. American Financial Group's payout ratio is presently 30.77%.

Insider Buying and Selling at American Financial Group

In other news, SVP Michelle A. Gillis sold 2,247 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $139.00, for a total value of $312,333.00. Following the completion of the transaction, the senior vice president directly owned 13,135 shares of the company's stock, valued at approximately $1,825,765. This represents a 14.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of the business's stock in a transaction on 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 completion of the sale, the insider directly owned 584,098 shares in the company, valued at approximately $78,882,434.90. This represents a 1.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 17,380 shares of company stock worth $2,390,788. Insiders own 16.90% of the company's stock.

About American Financial Group

American Financial Group, Inc NYSE: AFG is an insurance holding company headquartered in Cincinnati, Ohio. Through its Great American Insurance Group subsidiaries, the company primarily underwrites specialty property and casualty insurance and sells annuity products.

Its property and casualty operations serve businesses, organizations and individuals through specialized products that include commercial transportation, agricultural and crop insurance, workers' compensation, casualty coverage, financial institution insurance, surety and fidelity bonds, marine insurance, travel insurance and public-sector coverage.

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