Corebridge Financial Inc. Has $10.48 Million Stock Holdings in American Financial Group, Inc. $AFG

Key Points

• Corebridge Financial Inc. reduced its stake in American Financial Group by 2.3%, selling 1,904 shares during the first quarter, leaving them with approximately 79,768 shares valued at $10.5 million.
• Several institutional investors, including Bahl & Gaynor Inc. and AlphaQuest LLC, increased their positions in American Financial Group during the same period, highlighting a continued interest from the investment community.
• American Financial Group recently announced a quarterly dividend of $0.80 per share, providing a dividend yield of 2.3%, with a payout ratio of 35.16%.

Corebridge Financial Inc. lessened its holdings in American Financial Group, Inc. (NYSE:AFG - Free Report) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 79,768 shares of the insurance provider's stock after selling 1,904 shares during the quarter. Corebridge Financial Inc. owned approximately 0.10% of American Financial Group worth $10,477,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Private Trust Co. NA boosted its stake in shares of American Financial Group by 144.3% in the 1st quarter. Private Trust Co. NA now owns 215 shares of the insurance provider's stock valued at $28,000 after purchasing an additional 127 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of American Financial Group in the first quarter valued at about $34,000. Lazard Asset Management LLC bought a new stake in shares of American Financial Group in the fourth quarter valued at about $53,000. Headlands Technologies LLC bought a new position in American Financial Group in the first quarter valued at approximately $55,000. Finally, Costello Asset Management INC bought a new position in American Financial Group in the first quarter valued at approximately $68,000. Institutional investors own 64.37% of the company's stock.

Analyst Upgrades and Downgrades

AFG has been the subject of several research analyst reports. Wall Street Zen downgraded American Financial Group from a "hold" rating to a "sell" rating in a research note on Saturday. Keefe, Bruyette & Woods decreased their target price on American Financial Group from $127.00 to $124.00 and set a "market perform" rating on the stock in a report on Tuesday, August 12th. Finally, Jefferies Financial Group boosted their target price on American Financial Group from $125.00 to $130.00 and gave the stock a "hold" rating in a report on Monday, August 11th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $136.75.

American Financial Group Stock Performance

AFG traded down $0.70 during trading on Monday, hitting $135.88. The stock had a trading volume of 364,346 shares, compared to its average volume of 447,645. The company has a 50 day moving average price of $128.24 and a 200-day moving average price of $126.22. The firm has a market cap of $11.33 billion, a price-to-earnings ratio of 14.93 and a beta of 0.73. American Financial Group, Inc. has a one year low of $114.73 and a one year high of $150.19. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.47 and a quick ratio of 0.47.

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

American Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders 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 annualized dividend and a yield of 2.4%. American Financial Group's payout ratio is currently 35.16%.

Insiders Place Their Bets

In other American Financial Group news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of American Financial Group stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $134.31, for a total value of $1,343,100.00. Following the completion of the transaction, the director directly owned 326,730 shares of the company's stock, valued at $43,883,106.30. The trade was a 2.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 17.40% of the stock is owned by corporate insiders.

American Financial Group Company 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.