Hsbc Holdings PLC Has $28.91 Million Stock Holdings in American Financial Group, Inc. $AFG

Key Points

• Hsbc Holdings PLC reduced its stake in American Financial Group, Inc. by 9.2%, selling 22,299 shares, leaving it with a total of 220,113 shares valued at approximately $28.9 million.
• American Financial Group reported earnings of $2.14 per share for the last quarter, surpassing analyst estimates of $2.08, although their revenue of $1.65 billion fell short of expectations.
• The company's recent quarterly dividend was announced at $0.80 per share, yielding an annualized return of 2.4% with a payout ratio of 35.16%.

Hsbc Holdings PLC reduced its stake in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 9.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,113 shares of the insurance provider's stock after selling 22,299 shares during the quarter. Hsbc Holdings PLC owned about 0.26% of American Financial Group worth $28,913,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its holdings in shares of American Financial Group by 10.8% in the first quarter. Envestnet Asset Management Inc. now owns 59,633 shares of the insurance provider's stock valued at $7,832,000 after acquiring an additional 5,799 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in shares of American Financial Group in the first quarter valued at about $282,000. Teacher Retirement System of Texas purchased a new stake in shares of American Financial Group in the first quarter valued at about $1,370,000. Private Trust Co. NA lifted its holdings in shares of American Financial Group by 144.3% in the first 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 in the last quarter. Finally, QRG Capital Management Inc. raised its position in shares of American Financial Group by 10.5% in the first quarter. QRG Capital Management Inc. now owns 5,427 shares of the insurance provider's stock valued at $713,000 after buying an additional 514 shares during the last quarter. 64.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AFG shares. Jefferies Financial Group upped their price target on shares of American Financial Group from $125.00 to $130.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. Keefe, Bruyette & Woods decreased their target price on shares of American Financial Group from $127.00 to $124.00 and set a "market perform" rating for the company in a research note on Tuesday, August 12th. Finally, Wall Street Zen upgraded shares of American Financial Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, American Financial Group presently has an average rating of "Hold" and an average target price of $136.75.

American Financial Group Price Performance

Shares of NYSE:AFG traded down $0.16 during trading hours on Thursday, hitting $135.93. 98,466 shares of the company's stock traded hands, compared to its average volume of 498,083. American Financial Group, Inc. has a 52 week low of $114.73 and a 52 week high of $150.19. 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's fifty day simple moving average is $127.73 and its two-hundred day simple moving average is $126.07. The company has a market cap of $11.34 billion, a price-to-earnings ratio of 14.93 and a beta of 0.74.

American Financial Group (NYSE:AFG - Get Free Report) last announced its earnings results on Tuesday, August 5th. The insurance provider reported $2.14 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $1.77 billion. During the same period last year, the company posted $2.56 earnings per share. The business's revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities analysts anticipate that American Financial Group, Inc. will post 10.5 EPS for the current fiscal year.

American Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Tuesday, July 15th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, July 15th. American Financial Group's dividend payout ratio (DPR) is presently 35.16%.

Insiders Place Their Bets

In other news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of American Financial Group stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $134.31, for a total value of $1,343,100.00. Following the transaction, the director owned 326,730 shares of the company's stock, valued at $43,883,106.30. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 17.40% of the company's stock.

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.