89,669 Shares in American Financial Group, Inc. $AFG Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new stake in American Financial Group, Inc. (NYSE:AFG) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 89,669 shares of the insurance provider’s stock, valued at approximately $12,624,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of AFG. Royal Bank of Canada grew its holdings in shares of American Financial Group by 11.1% during the first quarter. Royal Bank of Canada now owns 75,421 shares of the insurance provider’s stock worth $9,905,000 after purchasing an additional 7,554 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of American Financial Group in the first quarter valued at about $2,330,000. Jones Financial Companies Lllp lifted its position in American Financial Group by 145.8% during the 1st quarter. Jones Financial Companies Lllp now owns 1,278 shares of the insurance provider’s stock worth $168,000 after buying an additional 758 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in American Financial Group by 144.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 793 shares of the insurance provider’s stock worth $100,000 after buying an additional 469 shares in the last quarter. Finally, Cerity Partners LLC grew its holdings in American Financial Group by 62.4% during the 2nd quarter. Cerity Partners LLC now owns 2,941 shares of the insurance provider’s stock worth $371,000 after acquiring an additional 1,130 shares during the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.

American Financial Group Stock Performance

AFG stock opened at $143.55 on Friday. The business’s 50-day moving average price is $142.33 and its two-hundred day moving average price is $134.92. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.38. The firm has a market cap of $11.90 billion, a PE ratio of 12.55 and a beta of 0.62. American Financial Group, Inc. has a 1-year low of $123.09 and a 1-year high of $150.02.

American Financial Group (NYSE:AFG) last announced its quarterly earnings results on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.50. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.85 billion. American Financial Group had a return on equity of 20.35% and a net margin of 11.51%.The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.14 earnings per share. As a group, research analysts forecast that American Financial Group, Inc. will post 12.13 earnings per share for the current year.

American Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Wednesday, July 15th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Wednesday, July 15th. American Financial Group’s dividend payout ratio (DPR) is presently 30.77%.

Analyst Ratings Changes

A number of brokerages have weighed in on AFG. Weiss Ratings raised shares of American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Wells Fargo & Company boosted their price objective on shares of American Financial Group from $158.00 to $173.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods lifted their target price on American Financial Group from $148.00 to $153.00 and gave the company a “market perform” rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded American Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Piper Sandler raised their price target on American Financial Group from $140.00 to $156.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, American Financial Group presently has an average rating of “Hold” and an average target price of $156.00.

Insider Buying and Selling

In related news, VP Mark A. Weiss sold 2,813 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $144.76, for a total value of $407,209.88. Following the sale, the vice president directly owned 6,648 shares of the company’s stock, valued at approximately $962,364.48. The trade was a 29.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michelle A. Gillis sold 2,247 shares of American Financial Group stock in a transaction dated Wednesday, June 24th. The shares were 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 in the company, valued at $1,825,765. This represents a 14.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,430 shares of company stock worth $2,255,061 over the last ninety days. Company insiders own 16.90% of the company’s stock.

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.