Hsbc Holdings PLC Decreases Stock Holdings in American Financial Group, Inc. $AFG

Key Points

• HSBC Holdings PLC cut its stake in American Financial Group by 17.4% in the first quarter, selling 16,935 shares and leaving it with 80,655 shares valued at about $10.3 million.
• Wall Street sentiment remains mixed on AFG: the stock has a consensus rating of “Hold” with an average price target of $150.75, while recent analyst moves included higher targets from Wells Fargo and KBW.
• AFG reported mixed quarterly results, missing EPS expectations at $2.47 versus $2.54 but beating revenue estimates with $1.85 billion. The company also announced a quarterly dividend of $0.88 per share, or $3.52 annually, for a 2.5% yield.

Hsbc Holdings PLC reduced its position in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 17.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 80,655 shares of the insurance provider's stock after selling 16,935 shares during the quarter. Hsbc Holdings PLC owned approximately 0.10% of American Financial Group worth $10,316,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in AFG. Global Retirement Partners LLC increased its position in shares of American Financial Group by 904.8% in the fourth quarter. Global Retirement Partners LLC now owns 211 shares of the insurance provider's stock valued at $29,000 after acquiring an additional 190 shares during the period. Clearstead Advisors LLC boosted its holdings in shares of American Financial Group by 87.7% during the fourth quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider's stock worth $35,000 after purchasing an additional 121 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of American Financial Group during the fourth quarter worth about $45,000. CIBC Private Wealth Group LLC grew its stake in shares of American Financial Group by 86.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 376 shares of the insurance provider's stock worth $51,000 after purchasing an additional 174 shares during the last quarter. Finally, Quarry LP purchased a new position in American Financial Group during the 4th quarter valued at about $52,000. Hedge funds and other institutional investors own 64.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on AFG shares. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of American Financial Group in a research report on Thursday, June 11th. Wells Fargo & Company lifted their price objective on American Financial Group from $158.00 to $173.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods upped their target price on American Financial Group from $140.00 to $148.00 and gave the company a "market perform" rating in a report on Wednesday, July 8th. Finally, Piper Sandler raised their price target on American Financial Group from $135.00 to $140.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 26th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $150.75.

American Financial Group Price Performance

Shares of NYSE AFG opened at $140.63 on Thursday. American Financial Group, Inc. has a 1 year low of $122.11 and a 1 year high of $150.02. The stock has a market capitalization of $11.68 billion, a P/E ratio of 13.37 and a beta of 0.62. The company's 50-day moving average is $136.48 and its 200 day moving average is $132.42. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.48 and a quick ratio of 0.48.

American Financial Group (NYSE:AFG - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The insurance provider reported $2.47 EPS for the quarter, missing the consensus estimate of $2.54 by ($0.07). The company had revenue of $1.85 billion during the quarter, compared to analysts' expectations of $1.70 billion. American Financial Group had a return on equity of 19.50% and a net margin of 10.76%.The business's quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the business earned $1.81 earnings per share. On average, sell-side analysts expect that American Financial Group, Inc. will post 11.37 earnings per share for the current year.

American Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Wednesday, July 15th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, July 15th. American Financial Group's dividend payout ratio (DPR) is presently 33.46%.

Insider Activity at American Financial Group

In related news, insider David Lawrence Thompson, Jr. sold 11,370 shares of American Financial Group stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $135.05, for a total transaction of $1,535,518.50. Following the sale, the insider directly owned 584,098 shares in the company, valued at $78,882,434.90. The trade was a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michelle A. Gillis sold 2,247 shares of the company's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $139.00, for a total value of $312,333.00. Following the completion of the sale, the senior vice president directly owned 13,135 shares in the company, valued at approximately $1,825,765. The trade was a 14.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 16.90% of the company's stock.

American Financial Group Profile

American Financial Group, Inc NYSE: AFG is a diversified holding company primarily engaged in property and casualty insurance and reinsurance. Through its flagship subsidiary, Great American Insurance Company, the firm underwrites a broad range of specialty insurance products for commercial and industrial clients, including inland marine, excess and surplus lines, executive liability, and environmental liability coverage. In addition, American Financial Group offers supplemental accident and health insurance and assumes reinsurance risks from other insurers, helping to diversify its underwriting portfolio.

The company traces its roots to 1946, when it was founded by Carl Lindner, Sr.

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