National Bank of Canada FI Has $137,000 Position in American Financial Group, Inc. $AFG

Key Points

• National Bank of Canada FI reduced its stake in American Financial Group, Inc. by 97.0% in the first quarter, dropping its holdings to just 1,043 shares worth $137,000.
• Despite the stake reduction by National Bank, other institutional investors such as Charles Schwab Investment Management and Voya Investment Management significantly increased their holdings in American Financial Group during the same quarter.
• American Financial Group reported a quarterly earnings beat with $2.14 EPS, exceeding estimates, but its revenue came in lower than expected at $1.65 billion.

National Bank of Canada FI lowered its stake in American Financial Group, Inc. (NYSE:AFG - Free Report) by 97.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,043 shares of the insurance provider's stock after selling 34,061 shares during the quarter. National Bank of Canada FI's holdings in American Financial Group were worth $137,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its stake in American Financial Group by 10.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 59,633 shares of the insurance provider's stock worth $7,832,000 after purchasing an additional 5,799 shares in the last quarter. Sowell Financial Services LLC purchased a new position in American Financial Group in the 1st quarter worth about $282,000. Teacher Retirement System of Texas purchased a new position in American Financial Group in the 1st quarter worth about $1,370,000. Private Trust Co. NA increased its stake in American Financial Group by 144.3% in the 1st quarter. Private Trust Co. NA now owns 215 shares of the insurance provider's stock worth $28,000 after purchasing an additional 127 shares in the last quarter. Finally, QRG Capital Management Inc. increased its stake in American Financial Group by 10.5% in the 1st quarter. QRG Capital Management Inc. now owns 5,427 shares of the insurance provider's stock worth $713,000 after purchasing an additional 514 shares in the last quarter. Hedge funds and other institutional investors own 64.37% of the company's stock.

American Financial Group Stock Up 1.3%

Shares of NYSE AFG traded up $1.7860 during trading hours on Friday, hitting $134.8460. The stock had a trading volume of 45,525 shares, compared to its average volume of 500,557. The company has a market capitalization of $11.24 billion, a P/E ratio of 14.83 and a beta of 0.74. The firm's 50-day moving average price is $126.82 and its two-hundred day moving average price is $125.93. 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.

American Financial Group (NYSE:AFG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The insurance provider reported $2.14 EPS for the quarter, beating the consensus estimate of $2.08 by $0.06. The business had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.77 billion. American Financial Group had a return on equity of 17.41% and a net margin of 9.21%.The firm's quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.56 EPS. Analysts anticipate that American Financial Group, Inc. will post 10.5 EPS for the current fiscal year.

American Financial Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AFG shares. Jefferies Financial Group lifted their target price on American Financial Group from $125.00 to $130.00 and gave the company a "hold" rating in a research note on Monday, August 11th. Keefe, Bruyette & Woods lowered their target price on 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. Finally, Wall Street Zen raised American Financial Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock 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.