Goldman Sachs Group Inc. cut its stake in American Financial Group, Inc. (NYSE:AFG – Free Report) by 9.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 770,864 shares of the insurance provider’s stock after selling 84,354 shares during the period. Goldman Sachs Group Inc. owned about 0.92% of American Financial Group worth $105,362,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Victory Capital Management Inc. grew its holdings 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 during the last quarter. Geode Capital Management LLC lifted its stake in 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 worth $236,645,000 after acquiring an additional 29,731 shares during the period. Dimensional Fund Advisors LP lifted its stake in American Financial Group by 10.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,127,518 shares of the insurance provider’s stock worth $164,293,000 after acquiring an additional 110,872 shares during the period. Northern Trust Corp lifted its stake in 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 worth $149,623,000 after acquiring an additional 255,693 shares during the period. Finally, Norges Bank purchased a new stake in American Financial Group in the fourth quarter worth about $114,661,000. 64.37% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of American Financial Group from $155.00 to $158.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings raised shares of American Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 16th. Piper Sandler upped 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 note on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of American Financial Group from $134.00 to $140.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 25th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, American Financial Group presently has an average rating of “Hold” and an average price target of $145.00.
American Financial Group Stock Up 0.2%
NYSE:AFG opened at $131.36 on Wednesday. The firm has a market cap of $10.91 billion, a PE ratio of 12.49 and a beta of 0.64. The company has a 50-day moving average of $131.66 and a 200 day moving average of $131.93. American Financial Group, Inc. has a 1-year low of $121.98 and a 1-year high of $150.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.48 and a quick ratio of 0.48.
American Financial Group (NYSE:AFG – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The insurance provider reported $2.47 EPS for the quarter, missing the consensus estimate of $2.54 by ($0.07). The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.70 billion. American Financial Group had a net margin of 10.76% and a return on equity of 19.50%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.81 earnings per share. As a group, research analysts anticipate that American Financial Group, Inc. will post 11.37 EPS for the current fiscal year.
American Financial Group Dividend Announcement
The company also recently declared 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. This represents a $3.52 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Wednesday, April 15th. American Financial Group’s dividend payout ratio is presently 33.46%.
American Financial Group 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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