Corient Private Wealth LP Reduces Position in American Financial Group, Inc. $AFG

Key Points

• Corient Private Wealth LP cut its American Financial Group stake by 75.6% in the second quarter, selling 21,295 shares and retaining 6,891 shares valued at approximately $964,000. Institutional investors collectively own 64.37% of AFG.
• American Financial Group reported quarterly EPS of $2.82, beating estimates of $2.32, while revenue reached $2.03 billion and rose 5.5% year over year. The company also maintains a quarterly dividend of $0.88 per share, yielding about 2.5% annually.
• AFG shares opened at $138.26, below the analyst consensus target of $156.00; overall analyst sentiment is “Hold,” with two Buy ratings and three Hold ratings.

Corient Private Wealth LP lowered its stake in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 75.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 6,891 shares of the insurance provider's stock after selling 21,295 shares during the period. Corient Private Wealth LP's holdings in American Financial Group were worth $964,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AFG. Amundi lifted its holdings in shares of American Financial Group by 469.4% in the second quarter. Amundi now owns 16,974 shares of the insurance provider's stock valued at $2,375,000 after purchasing an additional 13,993 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in American Financial Group during the second quarter worth $2,715,000. HB Wealth Management LLC raised its position in American Financial Group by 69.5% in the 2nd quarter. HB Wealth Management LLC now owns 4,299 shares of the insurance provider's stock valued at $602,000 after buying an additional 1,762 shares during the last quarter. Nilsine Partners LLC purchased a new stake in American Financial Group in the 2nd quarter valued at $1,564,000. Finally, AlphaGrep UK Ltd bought a new position in American Financial Group during the 2nd quarter valued at $426,000. 64.37% of the stock is owned by institutional investors.

American Financial Group Stock Up 0.0%

AFG stock opened at $138.26 on Monday. The stock has a fifty day moving average of $142.99 and a 200-day moving average of $136.51. American Financial Group, Inc. has a fifty-two week low of $123.09 and a fifty-two week high of $150.02. The company has a market capitalization of $11.46 billion, a price-to-earnings ratio of 12.09 and a beta of 0.60. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.49 and a current ratio of 0.49.

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. The business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $1.85 billion. American Financial Group had a return on equity of 20.35% and a net margin of 11.51%.The firm's quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.14 EPS. As a group, equities research analysts predict that American Financial Group, Inc. will post 12.17 earnings per share for the current year.

American Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Wednesday, July 15th were issued a dividend of $0.88 per share. The ex-dividend date of this dividend 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 is 30.77%.

Insider Activity

In other American Financial Group news, VP Mark Weiss sold 2,813 shares of American Financial Group stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $144.76, for a total transaction of $407,209.88. Following the completion of the transaction, the vice president owned 6,648 shares of the company's stock, valued at $962,364.48. The trade was a 29.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian Hertzman sold 950 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $142.87, for a total transaction of $135,726.50. Following the completion of the sale, the chief financial officer directly owned 11,123 shares in the company, valued at approximately $1,589,143.01. The trade was a 7.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 16.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of American Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. 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 report on Thursday, July 9th. Piper Sandler lifted their target price on American Financial Group from $140.00 to $156.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. Keefe, Bruyette & Woods boosted their price target on shares of American Financial Group from $148.00 to $153.00 and gave the stock a "market perform" rating in a report on Tuesday, August 11th. Finally, Wall Street Zen downgraded shares of American Financial Group from a "buy" rating to a "hold" rating in a report on Saturday, September 12th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $156.00.

About American Financial Group

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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