Sequoia Financial Advisors LLC Sells 4,733 Shares of American Financial Group, Inc. $AFG

Sequoia Financial Advisors LLC reduced its holdings in shares of American Financial Group, Inc. (NYSE:AFG) by 62.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,854 shares of the insurance provider’s stock after selling 4,733 shares during the period. Sequoia Financial Advisors LLC’s holdings in American Financial Group were worth $364,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Kestra Advisory Services LLC grew its holdings in American Financial Group by 17.9% in the first quarter. Kestra Advisory Services LLC now owns 3,279 shares of the insurance provider’s stock worth $419,000 after purchasing an additional 498 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in shares of American Financial Group by 2.9% during the first quarter. Oregon Public Employees Retirement Fund now owns 14,206 shares of the insurance provider’s stock valued at $1,814,000 after purchasing an additional 400 shares during the last quarter. Quantum Portfolio Management LLC lifted its holdings in shares of American Financial Group by 25.4% during the first quarter. Quantum Portfolio Management LLC now owns 3,503 shares of the insurance provider’s stock valued at $447,000 after purchasing an additional 710 shares during the last quarter. R Squared Ltd bought a new stake in shares of American Financial Group in the 1st quarter worth approximately $502,000. Finally, Praxis Investment Management Inc. boosted its position in shares of American Financial Group by 19.7% in the 1st quarter. Praxis Investment Management Inc. now owns 2,490 shares of the insurance provider’s stock worth $318,000 after purchasing an additional 410 shares in the last quarter. 64.37% of the stock is owned by hedge funds and other institutional investors.

American Financial Group Stock Down 0.6%

Shares of American Financial Group stock opened at $140.63 on Thursday. The company has a 50-day simple moving average of $136.48 and a two-hundred day simple moving average of $132.42. The stock has a market capitalization of $11.68 billion, a PE ratio of 13.37 and a beta of 0.62. American Financial Group, Inc. has a 52-week low of $122.11 and a 52-week high of $150.02. 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 (NYSE:AFG) last posted its quarterly earnings results on Thursday, April 30th. The insurance provider reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.07). The firm had revenue of $1.85 billion for 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 company’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.81 EPS. On average, analysts anticipate that American Financial Group, Inc. will post 11.37 EPS for the current fiscal year.

American Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Wednesday, July 15th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. American Financial Group’s dividend payout ratio (DPR) is presently 33.46%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AFG shares. Piper Sandler upped their price target on American Financial Group from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Wells Fargo & Company lifted their price objective on American Financial Group from $158.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Keefe, Bruyette & Woods boosted their target price on American Financial Group from $140.00 to $148.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of American Financial Group in a research note on Thursday, June 11th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $150.75.

Insiders Place Their Bets

In other news, SVP Michelle A. Gillis sold 2,247 shares of the business’s stock in a transaction 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 transaction, the senior vice president owned 13,135 shares in the company, valued at $1,825,765. The trade was a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of the business’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $135.05, for a total value of $1,535,518.50. Following the completion of the transaction, the insider owned 584,098 shares of the company’s stock, valued at $78,882,434.90. This represents a 1.91% decrease in their position. The SEC filing for this sale provides additional information. 16.90% of the stock is currently owned by company insiders.

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.