American Financial Group, Inc. $AFG Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its stake in American Financial Group, Inc. (NYSE:AFG) by 18.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 57,226 shares of the insurance provider’s stock after selling 13,302 shares during the quarter. Mutual of America Capital Management LLC’s holdings in American Financial Group were worth $8,339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in AFG. Hantz Financial Services Inc. lifted its stake in shares of American Financial Group by 421.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 198 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 160 shares during the period. Atlantic Union Bankshares Corp purchased a new position in American Financial Group in the second quarter valued at $27,000. Alpine Bank Wealth Management purchased a new position in American Financial Group in the third quarter valued at $30,000. Root Financial Partners LLC acquired a new position in shares of American Financial Group in the third quarter worth about $34,000. Finally, Quent Capital LLC purchased a new stake in shares of American Financial Group during the 3rd quarter worth about $46,000. Institutional investors and hedge funds own 64.37% of the company’s stock.

Analyst Ratings Changes

AFG has been the subject of several recent analyst reports. Wells Fargo & Company initiated coverage on American Financial Group in a research note on Thursday, January 15th. They issued an “overweight” rating and a $165.00 price target for the company. Weiss Ratings lowered American Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Piper Sandler upped their target price on American Financial Group from $130.00 to $139.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $142.00 target price on shares of American Financial Group in a research report on Tuesday, November 11th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $142.50.

Insider Activity at American Financial Group

In other news, CFO Brian S. Hertzman sold 1,777 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $142.51, for a total value of $253,240.27. Following the transaction, the chief financial officer directly owned 11,300 shares of the company’s stock, valued at approximately $1,610,363. This trade represents a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 17.40% of the stock is owned by company insiders.

American Financial Group Price Performance

NYSE:AFG opened at $127.79 on Wednesday. The stock has a 50 day moving average of $134.52 and a two-hundred day moving average of $135.00. American Financial Group, Inc. has a 12 month low of $114.73 and a 12 month high of $150.02. The firm has a market cap of $10.66 billion, a P/E ratio of 13.42 and a beta of 0.70. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.38.

American Financial Group (NYSE:AFG) last issued its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.34. American Financial Group had a return on equity of 18.05% and a net margin of 9.66%.The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the company posted $2.31 earnings per share. The business’s revenue was up 13.4% on a year-over-year basis. On average, analysts expect that American Financial Group, Inc. will post 10.5 earnings per share for the current fiscal year.

American Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 27th. Stockholders of record on Thursday, January 15th were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Thursday, January 15th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.8%. American Financial Group’s dividend payout ratio is presently 36.97%.

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.