PNC Financial Services Group Inc. cut its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,687 shares of the insurance provider’s stock after selling 214 shares during the period. PNC Financial Services Group Inc.’s holdings in American Financial Group were worth $1,849,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Fifth Third Bancorp raised its stake in American Financial Group by 9.5% during the 3rd quarter. Fifth Third Bancorp now owns 913 shares of the insurance provider’s stock valued at $115,000 after acquiring an additional 79 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG raised its stake in shares of American Financial Group by 5.9% during the 2nd quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 2,055 shares of the insurance provider’s stock worth $256,000 after buying an additional 114 shares in the last quarter. Formidable Asset Management LLC raised its stake in shares of American Financial Group by 4.9% during the 2nd quarter. Formidable Asset Management LLC now owns 2,686 shares of the insurance provider’s stock worth $336,000 after buying an additional 126 shares in the last quarter. Shell Asset Management Co. raised its stake in shares of American Financial Group by 2.1% during the 2nd quarter. Shell Asset Management Co. now owns 6,947 shares of the insurance provider’s stock worth $866,000 after buying an additional 140 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of American Financial Group by 15.4% during the 3rd quarter. Signaturefd LLC now owns 1,088 shares of the insurance provider’s stock worth $137,000 after buying an additional 145 shares in the last quarter. 65.88% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research downgraded American Financial Group from a “strong-buy” rating to a “hold” rating and set a $144.00 target price for the company. in a research note on Monday, October 11th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $131.00.
AFG opened at $137.73 on Monday. The stock has a market cap of $11.68 billion, a P/E ratio of 5.10 and a beta of 0.96. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.58 and a quick ratio of 0.58. The stock’s 50 day simple moving average is $138.68 and its 200 day simple moving average is $133.83. American Financial Group, Inc. has a 1-year low of $79.21 and a 1-year high of $146.63.
American Financial Group (NYSE:AFG) last released its quarterly earnings results on Tuesday, November 2nd. The insurance provider reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.85. The business had revenue of $1.73 billion for the quarter. American Financial Group had a return on equity of 14.99% and a net margin of 31.44%. During the same quarter in the prior year, the company earned $2.45 EPS. Research analysts expect that American Financial Group, Inc. will post 10.45 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 25th. Investors of record on Friday, January 14th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Thursday, January 13th. American Financial Group’s dividend payout ratio is currently 8.29%.
In related news, insider John B. Berding sold 15,957 shares of the company’s stock in a transaction that occurred on Wednesday, November 10th. The stock was sold at an average price of $145.51, for a total value of $2,321,903.07. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 14.00% of the company’s stock.
American Financial Group Profile
American Financial Group, Inc is an insurance holding company. It engages in property and casualty insurance, focusing on commercial products for businesses, and in the sale of fixed and fixed-indexed annuities in the retail, financial institutions and education markets. The company was founded by Carl Henry Lindner Jr.
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