Bank of New York Mellon Corp Decreases Stake in American Financial Group, Inc. $AFG

Bank of New York Mellon Corp cut its holdings in shares of American Financial Group, Inc. (NYSE:AFG) by 2.7% in the 3rd quarter, Holdings Channel reports. The fund owned 871,257 shares of the insurance provider’s stock after selling 24,369 shares during the period. Bank of New York Mellon Corp’s holdings in American Financial Group were worth $126,960,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. grew its stake in American Financial Group by 3.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,640 shares of the insurance provider’s stock valued at $333,000 after purchasing an additional 83 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of American Financial Group by 1.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 7,405 shares of the insurance provider’s stock valued at $1,087,000 after buying an additional 115 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of American Financial Group by 2.7% during the third quarter. QRG Capital Management Inc. now owns 5,938 shares of the insurance provider’s stock worth $865,000 after buying an additional 154 shares in the last quarter. A&I Financial Services LLC grew its position in shares of American Financial Group by 3.4% during the third quarter. A&I Financial Services LLC now owns 4,669 shares of the insurance provider’s stock worth $684,000 after buying an additional 155 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its stake in shares of American Financial Group by 421.1% in the second quarter. Hantz Financial Services Inc. now owns 198 shares of the insurance provider’s stock worth $25,000 after buying an additional 160 shares during the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.

American Financial Group Price Performance

Shares of NYSE:AFG opened at $130.41 on Friday. The company has a market cap of $10.88 billion, a PE ratio of 13.70 and a beta of 0.70. 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 50-day simple moving average of $134.03 and a 200 day simple moving average of $134.99. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.38.

American Financial Group (NYSE:AFG) last issued its earnings results on Wednesday, November 5th. The insurance provider reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.34. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.02 billion. American Financial Group had a return on equity of 18.05% and a net margin of 9.66%.American Financial Group’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.31 earnings per share. On average, sell-side analysts anticipate that American Financial Group, Inc. will post 10.5 EPS for the current year.

American Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 27th. Investors of record on Thursday, January 15th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Thursday, January 15th. American Financial Group’s dividend payout ratio is presently 36.97%.

Analyst Ratings Changes

A number of research analysts have commented on AFG shares. Piper Sandler increased their price objective on shares of American Financial Group from $130.00 to $139.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Wells Fargo & Company assumed coverage on shares of American Financial Group in a research note on Thursday, January 15th. They issued an “overweight” rating and a $165.00 target price on the stock. Weiss Ratings downgraded American Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Finally, Jefferies Financial Group restated a “hold” rating and set a $142.00 price objective on shares of American Financial Group in a research note on Tuesday, November 11th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, American Financial Group presently has an average rating of “Hold” and a consensus target price of $142.50.

Insiders Place Their Bets

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

American Financial Group 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.