Hsbc Holdings PLC Sells 22,299 Shares of 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 decreased its position 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. The institutional investor owned 220,113 shares of the insurance provider's stock after selling 22,299 shares during the period. Hsbc Holdings PLC owned about 0.26% of American Financial Group worth $28,913,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Raymond James Financial Inc. bought a new position in American Financial Group in the 4th quarter valued at approximately $2,875,000. Marshall Wace LLP acquired a new stake in shares of American Financial Group during the fourth quarter worth $3,339,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in American Financial Group during the fourth quarter worth $329,000. Natixis bought a new position in American Financial Group during the fourth quarter worth $47,000. Finally, Tower Research Capital LLC TRC boosted its stake in American Financial Group by 127.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,175 shares of the insurance provider's stock worth $1,256,000 after acquiring an additional 5,139 shares in the last quarter. Institutional investors and hedge funds own 64.37% of the company's stock.

Insider Buying and Selling at American Financial Group

In other news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the business's 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 completion of the sale, the director directly owned 326,730 shares in the company, valued at approximately $43,883,106.30. The trade was a 2.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 17.40% of the company's stock.

American Financial Group Price Performance

NYSE:AFG traded up $2.57 during mid-day trading on Wednesday, hitting $136.87. 215,006 shares of the stock traded hands, compared to its average volume of 497,812. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.33. American Financial Group, Inc. has a 12-month low of $114.73 and a 12-month high of $150.19. The company has a market cap of $11.41 billion, a PE ratio of 15.03 and a beta of 0.74. The business's 50-day moving average price is $127.45 and its 200 day moving average price is $126.00.

American Financial Group (NYSE:AFG - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The insurance provider reported $2.14 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter in the previous year, the company earned $2.56 EPS. The business's quarterly revenue was up 1.3% compared to the same quarter last year. On average, analysts expect 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. Stockholders of record on Tuesday, July 15th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, July 15th. American Financial Group's payout ratio is presently 35.16%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AFG. Keefe, Bruyette & Woods dropped their price objective on shares of American Financial Group from $127.00 to $124.00 and set a "market perform" rating on the stock in a research note on Tuesday, August 12th. Wall Street Zen upgraded shares of American Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Jefferies Financial Group raised their price objective on shares of 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 data from MarketBeat, American Financial Group presently has an average rating of "Hold" and a consensus price target of $136.75.

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.