Pensionfund Sabic Makes New Investment in American Financial Group, Inc. $AFG

Key Points

• Pensionfund Sabic initiated a new stake in American Financial Group, buying 9,300 shares in Q4 valued at about $1.27 million; overall institutional investors own roughly 64.37% of the stock.
• AFG beat Q4 expectations with EPS $3.65 vs. $3.18 and revenue of $2.06 billion, paid a $1.50 special dividend, and trades with a market cap of $10.64 billion and a P/E of 12.68.
• Analyst sentiment is mixed—2 Buys and 3 Holds with a consensus rating of “Hold” and a price target of $141.25—while Wells Fargo trimmed its target to $160 and Weiss Ratings upgraded the stock to a Buy.

Pensionfund Sabic bought a new position in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 9,300 shares of the insurance provider's stock, valued at approximately $1,271,000.

Other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada raised its holdings in American Financial Group by 11.1% in the 1st quarter. Royal Bank of Canada now owns 75,421 shares of the insurance provider's stock worth $9,905,000 after purchasing an additional 7,554 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of American Financial Group in the first quarter valued at approximately $2,330,000. Jones Financial Companies Lllp increased its position in shares of American Financial Group by 145.8% in the first quarter. Jones Financial Companies Lllp now owns 1,278 shares of the insurance provider's stock valued at $168,000 after buying an additional 758 shares in the last quarter. Swiss National Bank raised its stake in shares of American Financial Group by 0.7% during the 2nd quarter. Swiss National Bank now owns 202,600 shares of the insurance provider's stock worth $25,570,000 after buying an additional 1,400 shares during the period. Finally, Entropy Technologies LP acquired a new position in shares of American Financial Group during the 2nd quarter worth approximately $418,000. 64.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AFG has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their target price on American Financial Group from $165.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, February 5th. Weiss Ratings upgraded shares of American Financial Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 16th. Two 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.com, the stock currently has an average rating of "Hold" and a consensus price target of $141.25.

American Financial Group Price Performance

Shares of NYSE AFG opened at $127.72 on Wednesday. The firm has a 50-day simple moving average of $129.61 and a 200-day simple moving average of $134.78. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $10.64 billion, a price-to-earnings ratio of 12.68 and a beta of 0.69. American Financial Group, Inc. has a 52 week low of $114.73 and a 52 week high of $150.02.

American Financial Group (NYSE:AFG - Get Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $3.65 earnings per share for the quarter, topping analysts' consensus estimates of $3.18 by $0.47. American Financial Group had a net margin of 10.30% and a return on equity of 18.64%. The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period in the previous year, the business posted $3.12 earnings per share. American Financial Group's quarterly revenue was down 4.0% on a year-over-year basis. On average, equities analysts predict that American Financial Group, Inc. will post 10.5 earnings per share for the current fiscal year.

American Financial Group Dividend Announcement

The business also recently announced a special dividend, which was paid on Wednesday, February 25th. Stockholders of record on Monday, February 16th were issued a dividend of $1.50 per share. The ex-dividend date was Friday, February 13th. American Financial Group's payout ratio is currently 34.96%.

Insider Buying and Selling at American Financial Group

In other news, CFO Brian S. Hertzman sold 1,663 shares of the company's stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $133.70, for a total value of $222,343.10. Following the completion of the sale, the chief financial officer directly owned 12,073 shares in the company, valued at $1,614,160.10. This represents a 12.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.40% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding AFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Financial Group, Inc. (NYSE:AFG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.