Squarepoint Ops LLC lessened its holdings in American Financial Group, Inc. (NYSE:AFG – Free Report) by 23.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 144,330 shares of the insurance provider’s stock after selling 44,006 shares during the period. Squarepoint Ops LLC’s holdings in American Financial Group were worth $20,198,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Allworth Financial LP raised its stake in American Financial Group by 1.2% in the 2nd quarter. Allworth Financial LP now owns 51,359 shares of the insurance provider’s stock worth $7,187,000 after acquiring an additional 589 shares during the last quarter. West Family Investments Inc. acquired a new position in shares of American Financial Group in the second quarter valued at about $311,000. Waverly Advisors LLC increased its holdings in shares of American Financial Group by 32.6% in the second quarter. Waverly Advisors LLC now owns 2,698 shares of the insurance provider’s stock valued at $378,000 after purchasing an additional 664 shares during the period. Nykredit A S purchased a new position in shares of American Financial Group in the second quarter worth about $339,000. Finally, Amundi raised its stake in shares of American Financial Group by 469.4% in the second quarter. Amundi now owns 16,974 shares of the insurance provider’s stock worth $2,375,000 after purchasing an additional 13,993 shares during the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.
Insider Buying and Selling at American Financial Group
In related news, insider David Thompson, Jr. sold 11,370 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $135.05, for a total value of $1,535,518.50. Following the completion of the sale, the insider owned 584,098 shares of the company’s stock, valued at approximately $78,882,434.90. This trade represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mark Weiss sold 2,813 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $144.76, for a total value of $407,209.88. Following the completion of the sale, the vice president directly owned 6,648 shares of the company’s stock, valued at $962,364.48. This trade represents a 29.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 17,380 shares of company stock worth $2,390,788 in the last quarter. Insiders own 16.90% of the company’s stock.
American Financial Group Price Performance
American Financial Group (NYSE:AFG – Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.50. American Financial Group had a net margin of 11.51% and a return on equity of 20.35%. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the company earned $2.14 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities analysts expect that American Financial Group, Inc. will post 12.13 EPS for the current fiscal year.
American Financial Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Wednesday, July 15th were issued a $0.88 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. American Financial Group’s dividend payout ratio is presently 30.77%.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Wall Street Zen upgraded shares of American Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded shares of American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Piper Sandler raised their target price on shares of American Financial Group from $140.00 to $156.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Keefe, Bruyette & Woods upped their price target on shares of American Financial Group from $148.00 to $153.00 and gave the company a “market perform” rating in a report on Tuesday, August 11th. Finally, Wells Fargo & Company upped their price target on shares of American Financial Group from $158.00 to $173.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, American Financial Group currently has an average rating of “Hold” and a consensus target price of $156.00.
View Our Latest Stock Report on AFG
American Financial Group Company Profile
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.
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