American Financial Group, Inc. $AFG Shares Sold by Legal & General Group Plc

Legal & General Group Plc decreased its position in shares of American Financial Group, Inc. (NYSE:AFG) by 6.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 237,514 shares of the insurance provider’s stock after selling 17,235 shares during the period. Legal & General Group Plc’s holdings in American Financial Group were worth $32,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC grew its stake in shares of American Financial Group by 904.8% during the 4th quarter. Global Retirement Partners LLC now owns 211 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 190 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of American Financial Group by 165.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 273 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 170 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of American Financial Group during the 3rd quarter worth approximately $44,000. Bessemer Group Inc. grew its stake in shares of American Financial Group by 332.9% during the 3rd quarter. Bessemer Group Inc. now owns 368 shares of the insurance provider’s stock worth $54,000 after purchasing an additional 283 shares during the period. Finally, State of Wyoming acquired a new stake in shares of American Financial Group during the 2nd quarter worth approximately $57,000. Institutional investors and hedge funds own 64.37% of the company’s stock.

American Financial Group Price Performance

American Financial Group stock opened at $129.94 on Friday. The company’s fifty day moving average price is $131.16 and its 200 day moving average price is $132.52. American Financial Group, Inc. has a 1 year low of $121.48 and a 1 year high of $150.02. The stock has a market capitalization of $10.80 billion, a P/E ratio of 12.35 and a beta of 0.65. 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 released its quarterly earnings results on Thursday, April 30th. The insurance provider reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.07). American Financial Group had a net margin of 10.76% and a return on equity of 19.50%. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the business posted $1.81 EPS. American Financial Group’s revenue was down .1% compared to the same quarter last year. As a group, equities research analysts anticipate that American Financial Group, Inc. will post 11.37 earnings per share for the current fiscal year.

American Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Wednesday, April 15th were issued a $0.88 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $3.52 dividend on an annualized basis and a yield of 2.7%. American Financial Group’s dividend payout ratio (DPR) is presently 33.46%.

Analysts Set New Price Targets

A number of research firms recently issued reports on AFG. Piper Sandler lifted their price target on shares of American Financial Group from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday. Wells Fargo & Company lifted their price target on shares of American Financial Group from $155.00 to $158.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings raised shares of American Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 16th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of American Financial Group from $134.00 to $140.00 and gave the company a “market perform” rating in a research note on Wednesday, March 25th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $145.00.

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.