Sterling Capital Management LLC Sells 8,745 Shares of American Financial Group, Inc. $AFG

Sterling Capital Management LLC trimmed its stake in American Financial Group, Inc. (NYSE:AFG) by 79.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,218 shares of the insurance provider’s stock after selling 8,745 shares during the period. Sterling Capital Management LLC’s holdings in American Financial Group were worth $283,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AFG. Charles Schwab Investment Management Inc. raised its position in shares of American Financial Group by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,567,721 shares of the insurance provider’s stock valued at $350,956,000 after buying an additional 57,246 shares during the last quarter. Geode Capital Management LLC grew its position in American Financial Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 1,732,557 shares of the insurance provider’s stock worth $236,645,000 after buying an additional 29,731 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in American Financial Group by 12.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,266,001 shares of the insurance provider’s stock valued at $173,045,000 after acquiring an additional 138,483 shares during the period. Northern Trust Corp increased its stake in American Financial Group by 33.2% during the third quarter. Northern Trust Corp now owns 1,026,783 shares of the insurance provider’s stock valued at $149,623,000 after acquiring an additional 255,693 shares during the period. Finally, Morgan Stanley increased its stake in American Financial Group by 4.3% during the fourth quarter. Morgan Stanley now owns 894,998 shares of the insurance provider’s stock valued at $122,329,000 after acquiring an additional 36,971 shares during the period. Institutional investors own 64.37% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on AFG. Weiss Ratings reiterated a “buy (b-)” rating on shares of American Financial Group in a research report on Thursday, June 11th. Piper Sandler boosted their price objective on American Financial Group from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. Keefe, Bruyette & Woods upped their target price on 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. Finally, Wells Fargo & Company raised their target price on American Financial Group from $155.00 to $158.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. 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, the company currently has an average rating of “Hold” and an average price target of $145.00.

American Financial Group Stock Performance

NYSE AFG opened at $143.00 on Friday. American Financial Group, Inc. has a twelve month low of $122.11 and a twelve month high of $150.02. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.39. The stock has a market cap of $11.88 billion, a P/E ratio of 13.59 and a beta of 0.62. The company’s 50-day simple moving average is $133.95 and its 200 day simple moving average is $132.12.

American Financial Group (NYSE:AFG) last announced its quarterly earnings results on Thursday, April 30th. The insurance provider reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.07). The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.70 billion. American Financial Group had a return on equity of 19.50% and a net margin of 10.76%.The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.81 EPS. As a group, research analysts forecast that American Financial Group, Inc. will post 11.37 earnings per share for the current fiscal year.

American Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Wednesday, July 15th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Wednesday, July 15th. American Financial Group’s dividend payout ratio (DPR) is 33.46%.

Insider Buying and Selling at American Financial Group

In other American Financial Group news, SVP Michelle A. Gillis sold 2,247 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $139.00, for a total transaction of $312,333.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of American Financial Group stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $135.05, for a total value of $1,535,518.50. Following the transaction, the insider directly owned 584,098 shares of the company’s stock, valued at approximately $78,882,434.90. The trade was a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 16.90% of the stock is owned by insiders.

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.