Investment Management Corp of Ontario Sells 400 Shares of American Financial Group, Inc. (NYSE:AFG)

Investment Management Corp of Ontario decreased its holdings in shares of American Financial Group, Inc. (NYSE:AFG) by 17.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,936 shares of the insurance provider’s stock after selling 400 shares during the period. Investment Management Corp of Ontario’s holdings in American Financial Group were worth $265,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AFG. Norges Bank bought a new position in shares of American Financial Group during the fourth quarter valued at approximately $122,419,000. Voya Investment Management LLC grew its stake in American Financial Group by 89.5% in the fourth quarter. Voya Investment Management LLC now owns 672,851 shares of the insurance provider’s stock worth $92,134,000 after purchasing an additional 317,859 shares in the last quarter. Northern Trust Corp grew its stake in American Financial Group by 35.8% in the fourth quarter. Northern Trust Corp now owns 802,069 shares of the insurance provider’s stock worth $109,827,000 after purchasing an additional 211,630 shares in the last quarter. Bank of New York Mellon Corp grew its stake in American Financial Group by 26.2% in the fourth quarter. Bank of New York Mellon Corp now owns 997,340 shares of the insurance provider’s stock worth $136,566,000 after purchasing an additional 207,285 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in American Financial Group by 27.7% in the fourth quarter. First Trust Advisors LP now owns 684,178 shares of the insurance provider’s stock worth $93,684,000 after purchasing an additional 148,259 shares in the last quarter. Institutional investors own 64.37% of the company’s stock.

Insider Activity

In other American Financial Group news, Director Gregory G. Joseph acquired 3,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was purchased at an average price of $121.00 per share, for a total transaction of $363,000.00. Following the acquisition, the director now owns 57,477 shares in the company, valued at approximately $6,954,717. This trade represents a 5.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 17.40% of the company’s stock.

American Financial Group Stock Up 0.6%

American Financial Group stock opened at $124.27 on Wednesday. The business has a fifty day moving average of $126.36 and a two-hundred day moving average of $131.74. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.31. The firm has a market cap of $10.40 billion, a P/E ratio of 11.76 and a beta of 0.72. American Financial Group, Inc. has a twelve month low of $114.73 and a twelve month high of $150.19.

American Financial Group (NYSE:AFG) last posted its earnings results on Tuesday, May 6th. The insurance provider reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.36). The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.74 billion. American Financial Group had a return on equity of 20.30% and a net margin of 10.66%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.76 EPS. On average, analysts forecast that American Financial Group, Inc. will post 10.5 earnings per share for the current fiscal year.

American Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Tuesday, April 15th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $3.20 dividend on an annualized basis and a yield of 2.58%. American Financial Group’s dividend payout ratio is currently 33.61%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods dropped their price objective on American Financial Group from $126.00 to $125.00 and set a “market perform” rating on the stock in a research note on Friday, May 9th.

American Financial Group Profile

American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. The company offers property and transportation insurance products, such as physical damage and liability coverage for buses and trucks, inland and ocean marine, agricultural-related products, and other commercial property and specialty transportation coverages; specialty casualty insurance, including primarily excess and surplus, executive and professional liability, general liability, umbrella and excess liability, and specialty coverage in targeted markets, as well as customized programs for small to mid-sized businesses and workers’ compensation insurance; and specialty financial insurance products comprising risk management insurance programs for lending and leasing institutions, fidelity and surety products, and trade credit insurance.