Mutual of America Capital Management LLC Cuts Position in American Financial Group, Inc. $AFG

Mutual of America Capital Management LLC trimmed its stake in American Financial Group, Inc. (NYSE:AFG) by 18.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,226 shares of the insurance provider’s stock after selling 13,302 shares during the period. Mutual of America Capital Management LLC owned 0.07% of American Financial Group worth $8,339,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its holdings in American Financial Group by 10.2% in the third quarter. CIBC Asset Management Inc now owns 5,199 shares of the insurance provider’s stock worth $758,000 after purchasing an additional 482 shares in the last quarter. Rakuten Investment Management Inc. bought a new stake in shares of American Financial Group in the 3rd quarter valued at about $9,432,000. Root Financial Partners LLC purchased a new position in shares of American Financial Group in the 3rd quarter worth approximately $34,000. Nordwand Advisors LLC raised its stake in shares of American Financial Group by 2.2% during the 3rd quarter. Nordwand Advisors LLC now owns 13,810 shares of the insurance provider’s stock worth $2,012,000 after acquiring an additional 300 shares in the last quarter. Finally, Allstate Corp bought a new position in shares of American Financial Group during the 3rd quarter worth approximately $326,000. Institutional investors own 64.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Weiss Ratings lowered shares of American Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Wells Fargo & Company started coverage on American Financial Group in a research report on Thursday, January 15th. They issued an “overweight” rating and a $165.00 price objective for the company. Piper Sandler boosted their target price on American Financial Group from $130.00 to $139.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $142.00 price target on shares of American Financial Group in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, American Financial Group has a consensus rating of “Hold” and an average target price of $142.50.

Insiders Place Their Bets

In other American Financial Group news, CFO Brian S. Hertzman sold 1,777 shares of American Financial Group stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $142.51, for a total transaction of $253,240.27. Following the completion of the transaction, the chief financial officer owned 11,300 shares in the company, valued at approximately $1,610,363. This trade represents a 13.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 17.40% of the company’s stock.

American Financial Group Stock Down 0.2%

Shares of AFG stock opened at $127.79 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.55 and a current ratio of 0.55. American Financial Group, Inc. has a fifty-two week low of $114.73 and a fifty-two week high of $150.02. The firm has a market capitalization of $10.66 billion, a PE ratio of 13.42 and a beta of 0.70. The stock’s 50-day simple moving average is $134.52 and its 200-day simple moving average is $135.00.

American Financial Group (NYSE:AFG) last issued its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.34. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.02 billion. American Financial Group had a net margin of 9.66% and a return on equity of 18.05%. American Financial Group’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.31 EPS. Equities analysts expect that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 27th. Shareholders of record on Thursday, January 15th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, January 15th. American Financial Group’s dividend payout ratio is presently 36.97%.

About American Financial Group

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.