Bank of New York Mellon Corp Has $111.95 Million Stake in American Financial Group, Inc. $AFG

Key Points

• Bank of New York Mellon trimmed its stake in American Financial Group by 6.0% in the fourth quarter, but still held 819,034 shares worth about $111.95 million.
• Analysts are mixed on AFG: the stock has a consensus Hold rating with an average price target of $145, though Wells Fargo and Weiss Ratings recently turned more positive.
• American Financial Group reported Q1 earnings of $2.47 per share, missing estimates, even as revenue came in above forecasts; the company also paid a quarterly dividend of $0.88 per share.

Bank of New York Mellon Corp lowered its position in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 819,034 shares of the insurance provider's stock after selling 52,223 shares during the quarter. Bank of New York Mellon Corp owned about 0.98% of American Financial Group worth $111,946,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AFG. 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 position in shares of American Financial Group by 87.7% during the 4th quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider's stock worth $35,000 after buying an additional 121 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of American Financial Group by 165.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 273 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 170 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of American Financial Group in the 3rd quarter valued at $44,000. Finally, Bessemer Group Inc. lifted its position in shares of American Financial Group by 332.9% during the 3rd quarter. Bessemer Group Inc. now owns 368 shares of the insurance provider's stock valued at $54,000 after acquiring an additional 283 shares during the period. 64.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AFG shares. Wells Fargo & Company increased their target price on shares of American Financial Group from $155.00 to $158.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods upped their price objective on shares of American Financial Group from $134.00 to $140.00 and gave the company a "market perform" rating in a 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 report on Monday, March 16th. Finally, Piper Sandler raised their target price on American Financial Group from $135.00 to $140.00 and gave the company a "neutral" rating in a research note on Tuesday, May 26th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $145.00.

American Financial Group Trading Down 0.1%

AFG opened at $132.33 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.48 and a quick ratio of 0.48. American Financial Group, Inc. has a fifty-two week low of $121.75 and a fifty-two week high of $150.02. The firm has a market capitalization of $11.00 billion, a PE ratio of 12.58 and a beta of 0.64. The company's 50-day moving average is $131.50 and its 200 day moving average is $132.02.

American Financial Group (NYSE:AFG - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The insurance provider reported $2.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.54 by ($0.07). American Financial Group had a net margin of 10.76% and a return on equity of 19.50%. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the firm posted $1.81 EPS. American Financial Group's revenue for the quarter was down .1% on a year-over-year basis. As a group, research analysts predict that American Financial Group, Inc. will post 11.37 earnings per share for the current fiscal year.

American Financial Group Announces Dividend

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

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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