ProShare Advisors LLC Has $34.12 Million Stock Holdings in American Financial Group, Inc. $AFG

Key Points

• ProShare Advisors LLC reduced its stake in American Financial Group by 10.3% in the fourth quarter, though it still held 249,631 shares valued at about $34.12 million.
• Insider selling was reported as CFO Brian S. Hertzman sold 1,663 shares at $133.70 each, trimming his position by 12.11%.
• American Financial Group reported quarterly EPS of $2.47, missing estimates, even as revenue topped expectations at $1.85 billion; analysts currently rate the stock Hold with an average target price of $143.75.

ProShare Advisors LLC trimmed its holdings in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 10.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 249,631 shares of the insurance provider's stock after selling 28,648 shares during the period. ProShare Advisors LLC owned about 0.30% of American Financial Group worth $34,120,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. HighTower Advisors LLC boosted its position in American Financial Group by 10.4% during the fourth quarter. HighTower Advisors LLC now owns 13,729 shares of the insurance provider's stock valued at $1,876,000 after purchasing an additional 1,290 shares during the last quarter. North Dakota State Investment Board acquired a new position in shares of American Financial Group during the 4th quarter worth approximately $320,000. Eubel Brady & Suttman Asset Management Inc. bought a new stake in shares of American Financial Group during the 4th quarter worth approximately $530,000. AlphaCore Capital LLC acquired a new stake in shares of American Financial Group in the 4th quarter valued at approximately $202,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in shares of American Financial Group in the 4th quarter valued at approximately $849,000. Institutional investors and hedge funds own 64.37% of the company's stock.

Insider Activity at American Financial Group

In related news, CFO Brian S. Hertzman sold 1,663 shares of the company's stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $133.70, for a total value of $222,343.10. Following the transaction, the chief financial officer owned 12,073 shares in the company, valued at approximately $1,614,160.10. This represents a 12.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 16.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AFG. Weiss Ratings upgraded shares of American Financial Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 16th. Wells Fargo & Company increased their price target on shares of American Financial Group from $155.00 to $158.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods lifted their price objective on shares of American Financial Group from $134.00 to $140.00 and gave the company a "market perform" rating in a research report on Wednesday, March 25th. Finally, Piper Sandler boosted their price objective on shares of American Financial Group from $129.00 to $135.00 and gave the stock a "neutral" rating in a research note on Friday, May 1st. Two investment 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 an average target price of $143.75.

American Financial Group Stock Up 0.4%

AFG stock opened at $136.84 on Thursday. American Financial Group, Inc. has a 1-year low of $120.52 and a 1-year high of $150.02. The business's 50 day simple moving average is $130.25 and its 200 day simple moving average is $132.55. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $11.37 billion, a PE ratio of 13.01 and a beta of 0.65.

American Financial Group (NYSE:AFG - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The insurance provider reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.54 by ($0.07). American Financial Group had a net margin of 10.76% and a return on equity of 19.50%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the business earned $1.81 EPS. The company's revenue for the quarter was down .1% compared to the same quarter last year. As a group, research analysts anticipate that American Financial Group, Inc. will post 11.21 EPS for the current year.

American Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Wednesday, April 15th were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $3.52 annualized dividend and a dividend yield of 2.6%. American Financial Group's payout ratio is presently 33.46%.

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.