Sovereign s Capital Management LLC Trims Stock Holdings in American Financial Group, Inc. $AFG

Sovereign s Capital Management LLC decreased its holdings in American Financial Group, Inc. (NYSE:AFG) by 16.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,738 shares of the insurance provider’s stock after selling 6,154 shares during the period. American Financial Group accounts for about 2.5% of Sovereign s Capital Management LLC’s holdings, making the stock its 16th biggest position. Sovereign s Capital Management LLC’s holdings in American Financial Group were worth $4,201,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Victory Capital Management Inc. increased its stake in shares of American Financial Group by 12.9% in the third quarter. Victory Capital Management Inc. now owns 2,963,942 shares of the insurance provider’s stock worth $431,906,000 after purchasing an additional 337,573 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of American Financial Group by 2.3% in 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 acquiring an additional 57,246 shares during the period. Geode Capital Management LLC boosted its position in shares of American Financial Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 1,732,557 shares of the insurance provider’s stock valued at $236,645,000 after acquiring an additional 29,731 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of American Financial Group by 12.3% in 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. Finally, Northern Trust Corp boosted its position in shares of American Financial Group by 33.2% in 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. Hedge funds and other institutional investors own 64.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of American Financial Group from $155.00 to $158.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Piper Sandler raised their price objective on shares of American Financial Group from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. Weiss Ratings restated a “buy (b-)” rating on shares of American Financial Group in a research report on Thursday, June 11th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of American Financial Group from $134.00 to $140.00 and gave the company a “market perform” rating in a research report on Wednesday, March 25th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $145.00.

American Financial Group Trading Up 0.5%

Shares of American Financial Group stock opened at $134.53 on Wednesday. American Financial Group, Inc. has a 1 year low of $121.98 and a 1 year high of $150.02. The firm has a market cap of $11.18 billion, a PE ratio of 12.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.48 and a quick ratio of 0.48. The company has a 50 day simple moving average of $132.18 and a two-hundred day simple moving average of $131.80.

American Financial Group (NYSE:AFG) last announced its earnings results on Thursday, April 30th. The insurance provider reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the firm earned $1.81 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. Analysts expect that American Financial Group, Inc. will post 11.37 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 24th. Shareholders of record on Wednesday, April 15th were given a dividend of $0.88 per share. The ex-dividend date was Wednesday, April 15th. This represents a $3.52 annualized dividend and a yield of 2.6%. American Financial Group’s payout ratio is presently 33.46%.

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.