California State Teachers Retirement System Reduces Stock Holdings in American Financial Group, Inc. $AFG

Key Points

• California State Teachers Retirement System cut its American Financial Group stake by 16.3% in the first quarter, selling 15,556 shares and retaining 79,660 shares worth approximately $10.2 million. Institutional investors collectively own 64.37% of AFG.
• Analysts have raised their price targets, including Wells Fargo to $173, but the overall consensus remains “Hold” with an average target of $150.75.
• AFG shares opened at $142.09, near the upper end of their 12-month range, while the company paid a quarterly dividend of $0.88, representing a 2.5% annualized yield.

California State Teachers Retirement System lowered its holdings in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 16.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,660 shares of the insurance provider's stock after selling 15,556 shares during the quarter. California State Teachers Retirement System owned approximately 0.10% of American Financial Group worth $10,173,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AFG. Cassaday & Co Wealth Management LLC purchased a new position in shares of American Financial Group during the 1st quarter worth $26,000. Global Retirement Partners LLC increased its stake in shares of American Financial Group by 904.8% in the 4th quarter. Global Retirement Partners LLC now owns 211 shares of the insurance provider's stock worth $29,000 after purchasing an additional 190 shares in the last quarter. Clearstead Advisors LLC raised its holdings in American Financial Group by 87.7% in the 4th quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider's stock worth $35,000 after purchasing an additional 121 shares during the period. Los Angeles Capital Management LLC bought a new position in American Financial Group in the 4th quarter worth $45,000. Finally, CIBC Private Wealth Group LLC lifted its position in American Financial Group by 86.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 376 shares of the insurance provider's stock valued at $51,000 after purchasing an additional 174 shares in the last quarter. Institutional investors 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 $140.00 to $148.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 8th. Piper Sandler increased their target price on shares of American Financial Group from $135.00 to $140.00 and gave the stock a "neutral" rating in a report on Tuesday, May 26th. Wells Fargo & Company raised their target price on shares of American Financial Group from $158.00 to $173.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of American Financial Group in a report on Thursday, June 11th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $150.75.

American Financial Group Stock Performance

NYSE AFG opened at $142.09 on Tuesday. The firm has a market cap of $11.81 billion, a price-to-earnings ratio of 13.51 and a beta of 0.62. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average price of $137.58 and a 200-day moving average price of $132.97. American Financial Group, Inc. has a twelve month low of $122.74 and a twelve month high of $150.02.

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. This represents a $3.52 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, July 15th. American Financial Group's dividend payout ratio is presently 33.46%.

Insider Buying and Selling

In other American Financial Group news, SVP Michelle A. Gillis sold 2,247 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $139.00, for a total transaction of $312,333.00. Following the completion of the transaction, the senior vice president owned 13,135 shares of the company's stock, valued at $1,825,765. This represents a 14.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of American Financial Group stock in a transaction dated Tuesday, June 23rd. The stock was 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 $78,882,434.90. This trade represents a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 16.90% of the company's stock.

American Financial Group Profile

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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