Hengehold Capital Management LLC Cuts Stake in American Financial Group, Inc. $AFG

Key Points

• Hengehold Capital Management LLC reduced its stake in American Financial Group by 8.3% in Q2, owning 42,880 shares worth approximately $5.4 million after selling 3,896 shares.
• Institutional ownership of American Financial Group stands at 64.37%, with significant changes from other investors such as GAMMA Investing LLC, which increased its stake by over 11,000% in Q1.
• American Financial Group recently reported an earnings per share of $2.14 for the last quarter, exceeding expectations, but its revenue of $1.65 billion fell short of analyst estimates.

Hengehold Capital Management LLC lessened its holdings in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 8.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,880 shares of the insurance provider's stock after selling 3,896 shares during the period. Hengehold Capital Management LLC owned 0.05% of American Financial Group worth $5,412,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new stake in American Financial Group during the 4th quarter worth approximately $3,601,000. Toronto Dominion Bank boosted its position in American Financial Group by 2.1% during the fourth quarter. Toronto Dominion Bank now owns 9,606 shares of the insurance provider's stock worth $1,315,000 after acquiring an additional 195 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of American Financial Group by 5.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,383 shares of the insurance provider's stock valued at $874,000 after purchasing an additional 309 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of American Financial Group by 3.4% in the 4th quarter. Wellington Management Group LLP now owns 5,052 shares of the insurance provider's stock valued at $692,000 after acquiring an additional 164 shares during the period. Finally, GAMMA Investing LLC increased its stake in American Financial Group by 11,148.8% during the 1st quarter. GAMMA Investing LLC now owns 119,125 shares of the insurance provider's stock worth $15,646,000 after buying an additional 118,066 shares during the period. Hedge funds and other institutional investors own 64.37% of the company's stock.

Insider Activity

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Jefferies Financial Group lifted their price target on shares of American Financial Group from $125.00 to $130.00 and gave the company a "hold" rating in a report on Monday, August 11th. Wall Street Zen upgraded shares of American Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of American Financial Group from $127.00 to $124.00 and set a "market perform" rating for the company in a research report on Tuesday, August 12th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, American Financial Group currently has a consensus rating of "Hold" and a consensus target price of $136.75.

American Financial Group Price Performance

NYSE:AFG opened at $145.27 on Friday. The company has a market capitalization of $12.11 billion, a price-to-earnings ratio of 15.96 and a beta of 0.73. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.47 and a current ratio of 0.47. The company has a 50-day moving average of $133.79 and a 200-day moving average of $128.39. American Financial Group, Inc. has a 52 week low of $114.73 and a 52 week high of $150.19.

American Financial Group (NYSE:AFG - Get Free Report) last issued its 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. American Financial Group had a net margin of 9.21% and a return on equity of 17.41%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the firm earned $2.56 EPS. The company's revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities research analysts anticipate that American Financial Group, Inc. will post 10.5 earnings per share for the current fiscal year.

American Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Tuesday, July 15th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, July 15th. American Financial Group's dividend payout ratio is currently 35.16%.

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.

Want to see what other hedge funds are holding AFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Financial Group, Inc. (NYSE:AFG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.