American Financial Group, Inc. (NYSE:AFG) Stock Holdings Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 983,784 shares of the insurance provider's stock after selling 13,556 shares during the quarter. Bank of New York Mellon Corp owned 1.18% of American Financial Group worth $129,210,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of AFG. Norges Bank acquired a new position in shares of American Financial Group during the 4th quarter valued at $122,419,000. Voya Investment Management LLC grew its holdings in shares of American Financial Group by 89.5% in the 4th quarter. Voya Investment Management LLC now owns 672,851 shares of the insurance provider's stock worth $92,134,000 after acquiring an additional 317,859 shares during the last quarter. Northern Trust Corp grew its holdings in shares of American Financial Group by 35.8% in the 4th quarter. Northern Trust Corp now owns 802,069 shares of the insurance provider's stock worth $109,827,000 after acquiring an additional 211,630 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of American Financial Group in the 4th quarter worth $20,675,000. Finally, First Trust Advisors LP grew its holdings in shares of American Financial Group by 27.7% in the 4th quarter. First Trust Advisors LP now owns 684,178 shares of the insurance provider's stock worth $93,684,000 after acquiring an additional 148,259 shares during the last quarter. 64.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AFG shares. Wall Street Zen cut American Financial Group from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Keefe, Bruyette & Woods lifted their target price on American Financial Group from $125.00 to $127.00 and gave the stock a "market perform" rating in a report on Wednesday.

American Financial Group Stock Up 0.6%

Shares of American Financial Group stock traded up $0.73 during midday trading on Thursday, hitting $126.95. The company's stock had a trading volume of 75,761 shares, compared to its average volume of 508,914. The firm has a market capitalization of $10.62 billion, a P/E ratio of 13.33 and a beta of 0.71. The stock has a 50-day simple moving average of $124.54 and a 200-day simple moving average of $127.55. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.34. American Financial Group, Inc. has a 1-year low of $114.73 and a 1-year high of $150.19.

American Financial Group (NYSE:AFG - Get Free Report) last issued its earnings results on Tuesday, May 6th. The insurance provider reported $1.81 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.36). The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.74 billion. American Financial Group had a return on equity of 18.34% and a net margin of 9.66%. The business's quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the business earned $2.76 EPS. As a group, sell-side analysts expect that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Tuesday, July 15th will be given a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $3.20 annualized dividend and a dividend yield of 2.52%. American Financial Group's dividend payout ratio (DPR) is presently 33.61%.

American Financial Group Profile

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.