Vestor Capital LLC Reduces Stock Position in American Financial Group, Inc. $AFG

Key Points

• Vestor Capital LLC cut its American Financial Group stake by 99.9% in the first quarter, selling 600,041 shares and retaining just 600 shares valued at approximately $77,000.
• Other institutions increased their positions, including Bank of America, Janus Henderson, and Manufacturers Life Insurance. Hedge funds and other institutional investors collectively own 64.37% of AFG.
• Analysts maintain a consensus “Hold” rating with an average price target of $150.75, while AFG recently traded at $141.72 and pays an annualized dividend of $3.52 per share, yielding about 2.5%.

Vestor Capital LLC cut its holdings in American Financial Group, Inc. (NYSE:AFG - Free Report) by 99.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 600 shares of the insurance provider's stock after selling 600,041 shares during the period. Vestor Capital LLC's holdings in American Financial Group were worth $77,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE boosted its position in shares of American Financial Group by 24.0% during the 1st quarter. Bank of America Corp DE now owns 294,396 shares of the insurance provider's stock worth $37,597,000 after acquiring an additional 57,023 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of American Financial Group by 487.7% in the 1st quarter. Janus Henderson Group PLC now owns 30,500 shares of the insurance provider's stock valued at $3,894,000 after acquiring an additional 25,310 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of American Financial Group by 5.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 151,888 shares of the insurance provider's stock worth $19,398,000 after acquiring an additional 8,220 shares in the last quarter. Quantinno Capital Management LP raised its position in shares of American Financial Group by 7.9% during the 1st quarter. Quantinno Capital Management LP now owns 48,326 shares of the insurance provider's stock worth $6,172,000 after acquiring an additional 3,532 shares in the last quarter. Finally, SummitTX Capital L.P. acquired a new stake in shares of American Financial Group during the 1st quarter worth about $278,000. 64.37% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Financial Group

In other news, SVP Michelle A. Gillis sold 2,247 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $139.00, for a total value of $312,333.00. Following the completion of the sale, the senior vice president directly owned 13,135 shares of the company's stock, valued at approximately $1,825,765. This represents a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of the firm's stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $135.05, for a total transaction of $1,535,518.50. Following the transaction, the insider owned 584,098 shares in the company, valued at approximately $78,882,434.90. This trade represents a 1.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 16.90% of the company's stock.

Analyst Ratings Changes

AFG has been the subject of a number of research analyst reports. Piper Sandler upped their price target on American Financial Group from $135.00 to $140.00 and gave the company a "neutral" rating in a report on Tuesday, May 26th. Keefe, Bruyette & Woods raised their price objective on shares of American Financial Group from $140.00 to $148.00 and gave the stock a "market perform" rating in a report on Wednesday, July 8th. Wells Fargo & Company raised their price objective on shares of American Financial Group from $158.00 to $173.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of American Financial Group in a research report on Thursday, June 11th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, American Financial Group presently has a consensus rating of "Hold" and an average target price of $150.75.

American Financial Group Stock Performance

Shares of AFG stock opened at $141.72 on Friday. The stock's 50-day moving average is $137.47 and its two-hundred day moving average is $132.87. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.48 and a current ratio of 0.48. American Financial Group, Inc. has a 1 year low of $122.11 and a 1 year high of $150.02. The firm has a market cap of $11.78 billion, a price-to-earnings ratio of 13.47 and a beta of 0.62.

American Financial Group (NYSE:AFG - Get Free Report) last posted its earnings results on Thursday, April 30th. The insurance provider reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.54 by ($0.07). The firm had revenue of $1.85 billion during the quarter, compared to analysts' expectations of $1.70 billion. American Financial Group had a net margin of 10.76% and a return on equity of 19.50%. The firm's revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.81 earnings per share. Analysts predict that American Financial Group, Inc. will post 11.37 earnings per share for the current year.

American Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Wednesday, July 15th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $3.52 annualized dividend and a yield of 2.5%. American Financial Group's payout ratio is 33.46%.

American Financial Group Company 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.

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