Banque Cantonale Vaudoise reduced its position in shares of American Financial Group, Inc. (NYSE:AFG) by 23.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,600 shares of the insurance provider’s stock after selling 500 shares during the period. Banque Cantonale Vaudoise’s holdings in American Financial Group were worth $183,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AFG. Norges Bank purchased a new position in shares of American Financial Group during the 4th quarter valued at $73,883,000. SummerHaven Investment Management LLC purchased a new position in shares of American Financial Group during the 4th quarter valued at $605,000. BlackRock Inc. grew its position in shares of American Financial Group by 3.0% during the 1st quarter. BlackRock Inc. now owns 6,604,587 shares of the insurance provider’s stock valued at $753,583,000 after purchasing an additional 193,432 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its position in shares of American Financial Group by 54.4% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 440,002 shares of the insurance provider’s stock valued at $38,572,000 after purchasing an additional 155,117 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of American Financial Group by 16.4% during the 1st quarter. Alliancebernstein L.P. now owns 1,096,144 shares of the insurance provider’s stock valued at $125,070,000 after purchasing an additional 154,648 shares in the last quarter. Hedge funds and other institutional investors own 65.81% of the company’s stock.
A number of research firms have recently commented on AFG. Zacks Investment Research upgraded shares of American Financial Group from a “hold” rating to a “strong-buy” rating and set a $148.00 price target for the company in a research report on Monday, May 10th. Piper Sandler upped their target price on shares of American Financial Group from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, February 22nd. They noted that the move was a valuation call. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. American Financial Group presently has a consensus rating of “Buy” and a consensus target price of $119.50.
American Financial Group (NYSE:AFG) last posted its quarterly earnings results on Monday, May 3rd. The insurance provider reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.74. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.25 billion. American Financial Group had a net margin of 17.83% and a return on equity of 12.14%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.36 earnings per share. As a group, analysts predict that American Financial Group, Inc. will post 7.5 earnings per share for the current year.
The firm also recently declared a None dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 8th will be paid a $14.00 dividend. The ex-dividend date of this dividend is Monday, June 7th. This is an increase from American Financial Group’s previous None dividend of $1.00. This represents a yield of 1.5%. American Financial Group’s payout ratio is currently 23.70%.
In other American Financial Group news, CEO S Craig Lindner sold 20,000 shares of the business’s stock in a transaction on Monday, May 17th. The shares were sold at an average price of $129.55, for a total value of $2,591,000.00. Following the completion of the sale, the chief executive officer now directly owns 50,000 shares of the company’s stock, valued at $6,477,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Carl H. Lindner III sold 86,760 shares of the business’s stock in a transaction on Monday, May 10th. The stock was sold at an average price of $129.18, for a total transaction of $11,207,656.80. Following the completion of the sale, the chief executive officer now directly owns 50,000 shares of the company’s stock, valued at $6,459,000. The disclosure for this sale can be found here. Insiders sold 207,773 shares of company stock valued at $27,002,127 over the last three months. 14.00% of the stock is currently owned by insiders.
American Financial Group Company Profile
American Financial Group, Inc, an insurance holding company, provides property and casualty insurance products in the United States. The company operates through three segments: Property and Casualty Insurance, Annuity, and Other. It offers property and transportation insurance products, such as physical damage and liability coverage for buses and trucks, inland and ocean marine, agricultural-related products, and other commercial property coverages; specialty casualty insurance, including primarily excess and surplus, executive and professional liability, general liability, umbrella and excess liability, and specialty coverage in targeted markets, as well as customized programs for small to mid-sized businesses and workers' compensation insurance; and specialty financial insurance products comprising risk management insurance programs for lending and leasing institutions, fidelity and surety products, and trade credit insurance.
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