Vanguard Group Inc. Has $1.04 Billion Stake in American Financial Group, Inc. (NYSE:AFG)

Key Points

• Vanguard Group Inc. reduced its stake in American Financial Group by 4.7%, selling 389,857 shares and owning approximately 9.44% of the company worth over $1 billion.
• American Financial Group reported earnings per share of $2.14 for the last quarter, exceeding analysts' expectations, but its revenue fell short of estimates at $1.65 billion.
• The firm announced a quarterly dividend of $0.80 per share, resulting in an annualized yield of 2.5% and a dividend payout ratio of 35.16%.

Vanguard Group Inc. reduced its position in American Financial Group, Inc. (NYSE:AFG - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,898,004 shares of the insurance provider's stock after selling 389,857 shares during the period. Vanguard Group Inc. owned about 9.44% of American Financial Group worth $1,037,324,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its holdings in shares of American Financial Group by 10.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 59,633 shares of the insurance provider's stock valued at $7,832,000 after acquiring an additional 5,799 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of American Financial Group during the 1st quarter valued at about $282,000. Teacher Retirement System of Texas acquired a new position in shares of American Financial Group during the 1st quarter valued at about $1,370,000. Private Trust Co. NA grew its holdings 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 valued at $28,000 after buying an additional 127 shares during the last quarter. Finally, QRG Capital Management Inc. grew its holdings 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 valued at $713,000 after buying an additional 514 shares during the last quarter. 64.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AFG. Wall Street Zen raised American Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Jefferies Financial Group raised their target price on American Financial Group from $125.00 to $130.00 and gave the company a "hold" rating in a report on Monday, August 11th. Finally, Keefe, Bruyette & Woods reduced their price objective on American Financial Group from $127.00 to $124.00 and set a "market perform" rating for the company in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $136.75.

American Financial Group Price Performance

Shares of American Financial Group stock traded down $1.78 during midday trading on Friday, hitting $131.57. 346,310 shares of the company were exchanged, compared to its average volume of 475,384. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a market cap of $10.97 billion, a P/E ratio of 14.46 and a beta of 0.74. American Financial Group, Inc. has a 52 week low of $114.73 and a 52 week high of $150.19. The firm has a 50 day simple moving average of $126.15 and a 200-day simple moving average of $126.06.

American Financial Group (NYSE:AFG - Get Free Report) last posted its earnings results on Tuesday, August 5th. The insurance provider reported $2.14 EPS for the quarter, topping the consensus estimate of $2.08 by $0.06. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.77 billion. American Financial Group had a return on equity of 17.41% and a net margin of 9.21%. American Financial Group's revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $2.56 EPS. Research analysts forecast that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Tuesday, July 15th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, July 15th. American Financial Group's dividend payout ratio (DPR) is currently 35.16%.

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.