American Financial Group, Inc. $AFG Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lessened its position in American Financial Group, Inc. (NYSE:AFG - Free Report) by 3.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,956 shares of the insurance provider's stock after selling 2,704 shares during the period. California State Teachers Retirement System owned about 0.09% of American Financial Group worth $10,769,223 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. HB Wealth Management LLC boosted its holdings in American Financial Group by 69.5% during the second quarter. HB Wealth Management LLC now owns 4,299 shares of the insurance provider's stock valued at $602,000 after acquiring an additional 1,762 shares during the period. Nilsine Partners LLC bought a new position in shares of American Financial Group in the 2nd quarter valued at $1,564,000. AlphaGrep UK Ltd acquired a new stake in American Financial Group in the second quarter worth $426,000. Nykredit A S purchased a new position in American Financial Group in the second quarter worth $339,000. Finally, Alyeska Investment Group L.P. boosted its position in shares of American Financial Group by 2.0% in the second quarter. Alyeska Investment Group L.P. now owns 198,835 shares of the insurance provider's stock valued at $27,825,000 after acquiring an additional 3,835 shares during the period. Institutional investors and hedge funds own 64.37% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AFG shares. Keefe, Bruyette & Woods raised their price objective on American Financial Group from $148.00 to $153.00 and gave the stock a "market perform" rating in a research note on Tuesday, August 11th. Weiss Ratings raised American Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. Wall Street Zen downgraded American Financial Group from a "buy" rating to a "hold" rating in a research report on Saturday. Wells Fargo & Company raised their target price on American Financial Group from $158.00 to $173.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Finally, Piper Sandler increased their target price on shares of American Financial Group from $140.00 to $156.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $156.00.

Insider Activity

In other news, SVP Michelle Gillis sold 2,247 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $139.00, for a total value of $312,333.00. Following the sale, the senior vice president directly owned 13,135 shares in the company, valued at $1,825,765. This represents a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Thompson, Jr. sold 11,370 shares of the company's stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 17,380 shares of company stock valued at $2,390,788. Corporate insiders own 16.90% of the company's stock.

American Financial Group Stock Performance

Shares of AFG traded down $0.50 during mid-day trading on Tuesday, hitting $143.20. The stock had a trading volume of 90,864 shares, compared to its average volume of 516,375. American Financial Group, Inc. has a 52 week low of $123.09 and a 52 week high of $150.02. The firm has a market cap of $11.87 billion, a P/E ratio of 12.52 and a beta of 0.60. 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 business has a fifty day moving average price of $143.00 and a 200-day moving average price of $135.94.

American Financial Group (NYSE:AFG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.32 by $0.50. American Financial Group had a return on equity of 20.35% and a net margin of 11.51%.The business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $1.85 billion. During the same quarter in the previous year, the business earned $2.14 earnings per share. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts expect that American Financial Group, Inc. will post 12.13 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. Shareholders of record on Wednesday, July 15th were paid a $0.88 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. American Financial Group's dividend payout ratio (DPR) is currently 30.77%.

American Financial Group Company Profile

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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