Pacer Advisors Inc. Sells 7,066 Shares of American Financial Group, Inc. (NYSE:AFG)

Key Points

• Pacer Advisors Inc. reduced its stake in American Financial Group by 67.1%, owning 3,470 shares valued at $456,000 by the end of the recent quarter.
• American Financial Group's stock price fell by 2.0% to $122.40, with a current market cap of $10.24 billion and a PE ratio of 12.86.
• The company reported $1.81 earnings per share for the last quarter, which missed estimates, along with a quarterly revenue decline of 2.6% year-over-year.

Pacer Advisors Inc. cut its position in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 67.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,470 shares of the insurance provider's stock after selling 7,066 shares during the quarter. Pacer Advisors Inc.'s holdings in American Financial Group were worth $456,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Private Trust Co. NA raised its position 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 during the last quarter. Natixis acquired a new position in shares of American Financial Group in the 4th quarter valued at $47,000. Lazard Asset Management LLC acquired a new position in shares of American Financial Group in the 4th quarter valued at $53,000. Measured Risk Portfolios Inc. acquired a new position in shares of American Financial Group in the 4th quarter valued at $73,000. Finally, UMB Bank n.a. grew its holdings in shares of American Financial Group by 97.4% in the 1st quarter. UMB Bank n.a. now owns 671 shares of the insurance provider's stock valued at $88,000 after buying an additional 331 shares during the period. Institutional investors own 64.37% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AFG shares. Keefe, Bruyette & Woods upped their target price on shares of American Financial Group from $125.00 to $127.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Wall Street Zen cut shares of American Financial Group from a "hold" rating to a "sell" rating in a report on Saturday, June 21st.

American Financial Group Trading Up 1.4%

AFG stock traded up $1.70 during midday trading on Tuesday, hitting $125.30. The stock had a trading volume of 255,732 shares, compared to its average volume of 504,932. American Financial Group, Inc. has a 1-year low of $114.73 and a 1-year high of $150.19. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.34. The firm has a market cap of $10.48 billion, a P/E ratio of 13.16 and a beta of 0.74. The business has a fifty day moving average price of $125.08 and a two-hundred day moving average price of $126.30.

American Financial Group (NYSE:AFG - Get Free Report) last released its earnings results on Tuesday, May 6th. The insurance provider reported $1.81 earnings per share for the quarter, missing analysts' consensus estimates of $2.17 by ($0.36). American Financial Group had a net margin of 9.66% and a return on equity of 18.34%. The company had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.74 billion. During the same quarter in the previous year, the firm earned $2.76 earnings per share. The firm's revenue was down 2.6% compared to the same quarter last year. On average, sell-side analysts predict that American Financial Group, Inc. will post 10.5 earnings per share for the current fiscal year.

American Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Tuesday, July 15th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, July 15th. American Financial Group's dividend payout ratio (DPR) is 33.61%.

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.