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

Key Points

• HSBC Holdings PLC boosted its stake in American Financial Group by 72.1% in the fourth quarter, ending with 97,590 shares worth about $13.35 million.
• American Financial Group reported quarterly earnings of $2.47 per share, missing estimates, but revenue came in at $1.85 billion, above analyst expectations.
• The company declared a quarterly dividend of $0.88 per share, implying an annualized payout of $3.52 and a yield of about 2.5%.

Hsbc Holdings PLC lifted its holdings in American Financial Group, Inc. (NYSE:AFG - Free Report) by 72.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,590 shares of the insurance provider's stock after acquiring an additional 40,888 shares during the period. Hsbc Holdings PLC owned approximately 0.12% of American Financial Group worth $13,346,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Global Retirement Partners LLC raised its position in 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 purchasing an additional 190 shares during the period. Clearstead Advisors LLC grew its stake in shares of American Financial Group by 87.7% in the fourth quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider's stock valued at $35,000 after buying an additional 121 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of American Financial Group in the fourth quarter valued at about $45,000. CIBC Private Wealth Group LLC raised its holdings in shares of American Financial Group by 86.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 376 shares of the insurance provider's stock valued at $51,000 after buying an additional 174 shares during the period. Finally, Quarry LP acquired a new position in American Financial Group during the 4th quarter worth approximately $52,000. Hedge funds and other institutional investors own 64.37% of the company's stock.

American Financial Group Trading Up 0.4%

AFG opened at $142.60 on Wednesday. American Financial Group, Inc. has a 12-month low of $122.11 and a 12-month high of $150.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market capitalization of $11.85 billion, a PE ratio of 13.55 and a beta of 0.62. The firm's fifty day moving average price is $134.39 and its 200 day moving average price is $132.15.

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

American Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Wednesday, July 15th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, July 15th. American Financial Group's payout ratio is currently 33.46%.

Insider Activity at American Financial Group

In related news, insider David Lawrence Thompson, Jr. sold 11,370 shares of the company's 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 of the company's stock, valued at approximately $78,882,434.90. This represents a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Michelle A. Gillis sold 2,247 shares of the firm'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 transaction, the senior vice president owned 13,135 shares in the company, valued at $1,825,765. This trade represents a 14.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 16.90% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of American Financial Group in a research report on Thursday, June 11th. Piper Sandler upped their target price on shares of American Financial Group from $135.00 to $140.00 and gave the company a "neutral" rating in a research note on Tuesday, May 26th. Wells Fargo & Company raised their price target on shares of American Financial Group from $155.00 to $158.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of American Financial Group from $134.00 to $140.00 and gave the stock a "market perform" rating in a research note on Wednesday, March 25th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, American Financial Group has a consensus rating of "Hold" and a consensus target price of $145.00.

About American Financial Group

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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