Swiss National Bank Has $16.86 Million Stock Position in American Financial Group, Inc. $AFG

Swiss National Bank lessened its holdings in shares of American Financial Group, Inc. (NYSE:AFG) by 21.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 132,000 shares of the insurance provider’s stock after selling 36,500 shares during the quarter. Swiss National Bank owned 0.16% of American Financial Group worth $16,858,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of American Financial Group during the fourth quarter worth $114,661,000. M&T Bank Corp boosted its stake in American Financial Group by 20,131.5% in the 4th quarter. M&T Bank Corp now owns 637,090 shares of the insurance provider’s stock worth $87,077,000 after purchasing an additional 633,941 shares during the period. Vestor Capital LLC boosted its stake in American Financial Group by 100,006.8% in the 4th quarter. Vestor Capital LLC now owns 600,641 shares of the insurance provider’s stock worth $82,096,000 after purchasing an additional 600,041 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in American Financial Group in the 4th quarter worth $43,832,000. Finally, Northern Trust Corp increased its holdings in American Financial Group by 33.2% during the 3rd quarter. Northern Trust Corp now owns 1,026,783 shares of the insurance provider’s stock worth $149,623,000 after purchasing an additional 255,693 shares in the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Keefe, Bruyette & Woods boosted their target price on American Financial Group from $140.00 to $148.00 and gave the company a “market perform” rating in a research note on Wednesday, July 8th. Wells Fargo & Company raised their price target on shares of American Financial Group from $158.00 to $173.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of American Financial Group in a report on Thursday, June 11th. Finally, Piper Sandler boosted their price objective on shares of American Financial Group from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $150.75.

American Financial Group Stock Up 1.7%

American Financial Group stock opened at $143.51 on Friday. The company’s 50-day moving average price is $136.83 and its two-hundred day moving average price is $132.54. 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 $11.92 billion, a P/E ratio of 13.64 and a beta of 0.62. American Financial Group, Inc. has a twelve month low of $122.11 and a twelve month high of $150.02.

American Financial Group (NYSE:AFG) last issued its quarterly earnings data on Thursday, April 30th. The insurance provider reported $2.47 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 firm 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 company earned $1.81 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. As a group, analysts expect that American Financial Group, Inc. will post 11.37 EPS for the current year.

American Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Wednesday, July 15th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $3.52 annualized dividend and a yield of 2.5%. American Financial Group’s payout ratio is presently 33.46%.

Insider Activity

In other news, SVP Michelle A. Gillis sold 2,247 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were 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 approximately $1,825,765. This represents a 14.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of American Financial Group stock in a transaction dated 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 sale, the insider directly owned 584,098 shares in the company, valued at $78,882,434.90. The trade was a 1.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 16.90% of the stock is currently 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.