Amundi Lowers Stake in American Financial Group, Inc. $AFG

Amundi trimmed its holdings in American Financial Group, Inc. (NYSE:AFG - Free Report) by 26.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,726 shares of the insurance provider's stock after selling 90,587 shares during the quarter. Amundi owned about 0.30% of American Financial Group worth $32,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of AFG. Charles Schwab Investment Management Inc. grew its holdings in American Financial Group by 395.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,520,714 shares of the insurance provider's stock worth $331,071,000 after purchasing an additional 2,012,027 shares during the period. Nuveen LLC purchased a new stake in American Financial Group in the first quarter worth about $30,442,000. Ameriprise Financial Inc. grew its holdings in American Financial Group by 112.5% in the first quarter. Ameriprise Financial Inc. now owns 327,621 shares of the insurance provider's stock worth $43,030,000 after purchasing an additional 173,452 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in American Financial Group in the fourth quarter worth about $20,675,000. Finally, SG Americas Securities LLC increased its stake in American Financial Group by 6,414.6% during the 1st quarter. SG Americas Securities LLC now owns 129,967 shares of the insurance provider's stock valued at $17,070,000 after purchasing an additional 127,972 shares in the last quarter. Hedge funds and other institutional investors own 64.37% of the company's stock.

American Financial Group Stock Performance

Shares of AFG stock traded down $0.45 during trading hours on Friday, reaching $139.69. The company had a trading volume of 56,527 shares, compared to its average volume of 496,006. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market cap of $11.65 billion, a PE ratio of 15.35 and a beta of 0.73. The business has a fifty day moving average price of $130.50 and a 200-day moving average price of $127.16. American Financial Group, Inc. has a one year low of $114.73 and a one year high of $150.19.

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

American Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Tuesday, July 15th were issued a $0.80 dividend. 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 2.3%. American Financial Group's dividend payout ratio (DPR) is presently 35.16%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AFG. Keefe, Bruyette & Woods reduced their price objective on shares of 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 lowered shares of American Financial Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. Finally, Jefferies Financial Group raised their price objective on shares of American Financial Group from $125.00 to $130.00 and gave the company a "hold" rating in a research note on Monday, August 11th. Four analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $136.75.

Insider Activity

In related news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $134.31, for a total value of $1,343,100.00. Following the transaction, the director owned 326,730 shares of the company's stock, valued at approximately $43,883,106.30. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 17.40% of the company's stock.

About American Financial Group

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.