American Financial Group (NYSE:AFG) Stock: Insider Brian Hertzman Sells 301 Shares

Key Points

• CFO Brian Hertzman sold 301 shares for about $46,742, reducing his direct holdings by 16.24% to 1,553 shares.
• American Financial Group beat quarterly expectations, reporting EPS of $3.97 versus $3.80 expected and revenue of $2.58 billion versus $2.40 billion expected.
• The company announced a $3.50 special dividend; analysts’ consensus rating is Hold, with an average price target of $155.60.

American Financial Group, Inc. (NYSE:AFG - Get Free Report) CFO Brian Hertzman sold 301 shares of American Financial Group stock in a transaction on Friday, November 6th. The stock was sold at an average price of $155.29, for a total transaction of $46,742.29. Following the completion of the transaction, the chief financial officer directly owned 1,553 shares in the company, valued at $241,165.37. This represents a 16.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

American Financial Group Stock Performance

Shares of American Financial Group stock traded up $3.08 during midday trading on Monday, hitting $157.63. The company had a trading volume of 617,602 shares, compared to its average volume of 506,944. The stock has a market cap of $13.07 billion, a price-to-earnings ratio of 12.86 and a beta of 0.55. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.39. The company has a fifty day simple moving average of $144.87 and a 200 day simple moving average of $137.00. American Financial Group, Inc. has a 12-month low of $123.09 and a 12-month high of $159.61.

American Financial Group (NYSE:AFG - Get Free Report) last released its earnings results on Tuesday, November 3rd. The insurance provider reported $3.97 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.17. American Financial Group had a net margin of 11.96% and a return on equity of 22.56%. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the previous year, the firm earned $2.69 EPS. As a group, analysts predict that American Financial Group, Inc. will post 12.29 earnings per share for the current fiscal year.

American Financial Group Announces Dividend

The company also recently announced a special dividend, which will be paid on Wednesday, November 25th. Investors of record on Monday, November 16th will be given a $3.50 dividend. The ex-dividend date of this dividend is Monday, November 16th. American Financial Group's dividend payout ratio is presently 31.65%.

Institutional Investors Weigh In On American Financial Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its position in shares of American Financial Group by 58.5% during the third quarter. Bessemer Group Inc. now owns 699 shares of the insurance provider's stock worth $96,000 after purchasing an additional 258 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in American Financial Group by 6.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,492 shares of the insurance provider's stock valued at $341,000 after purchasing an additional 159 shares in the last quarter. Allworth Financial LP lifted its holdings in American Financial Group by 0.6% in the 3rd quarter. Allworth Financial LP now owns 51,649 shares of the insurance provider's stock valued at $7,228,000 after purchasing an additional 290 shares in the last quarter. Maryland State Retirement & Pension System lifted its holdings in American Financial Group by 13.4% in the 3rd quarter. Maryland State Retirement & Pension System now owns 3,803 shares of the insurance provider's stock valued at $520,000 after purchasing an additional 449 shares in the last quarter. Finally, Ritholtz Wealth Management acquired a new stake in American Financial Group during the 3rd quarter worth $259,000. 64.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on AFG. Keefe, Bruyette & Woods lifted their price target on American Financial Group from $147.00 to $150.00 and gave the stock a "market perform" rating in a research report on Monday. Piper Sandler boosted their price target on American Financial Group from $140.00 to $156.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Wall Street Zen lowered American Financial Group from a "buy" rating to a "hold" rating in a report on Saturday. Weiss Ratings upgraded American Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Finally, Oppenheimer set a $150.00 price objective on American Financial Group in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $155.60.

American Financial Group Company Profile

American Financial Group, Inc is an insurance holding company headquartered in Cincinnati, Ohio. Through Great American Insurance Group, it provides property and casualty insurance, with a focus on specialty commercial markets and coverage tailored to specific industries and customer needs.

Its products include insurance for businesses, farms and agricultural operations, and individuals, offered through a network of independent agents and brokers. AFG's insurance operations serve customers primarily in the United States, with some products and services available internationally.

The company traces its roots to 1959, while its Great American Insurance Company subsidiary was founded in 1872.

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