Resonant Capital Advisors LLC Reduces Stock Position in American Financial Group, Inc. (NYSE:AFG)

Resonant Capital Advisors LLC cut its stake in American Financial Group, Inc. (NYSE:AFG) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,971 shares of the insurance provider’s stock after selling 352 shares during the period. Resonant Capital Advisors LLC’s holdings in American Financial Group were worth $591,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AFG. Norges Bank purchased a new position in American Financial Group in the fourth quarter valued at about $94,625,000. FMR LLC increased its holdings in American Financial Group by 16.1% in the third quarter. FMR LLC now owns 4,710,065 shares of the insurance provider’s stock valued at $525,973,000 after buying an additional 654,442 shares in the last quarter. Johnson Investment Counsel Inc. increased its holdings in American Financial Group by 511.9% in the first quarter. Johnson Investment Counsel Inc. now owns 432,083 shares of the insurance provider’s stock valued at $52,498,000 after buying an additional 361,472 shares in the last quarter. Vanguard Group Inc. increased its holdings in American Financial Group by 4.3% in the first quarter. Vanguard Group Inc. now owns 7,544,354 shares of the insurance provider’s stock valued at $1,098,609,000 after buying an additional 313,115 shares in the last quarter. Finally, Morgan Stanley increased its holdings in American Financial Group by 70.4% in the fourth quarter. Morgan Stanley now owns 701,998 shares of the insurance provider’s stock valued at $96,370,000 after buying an additional 290,140 shares in the last quarter. 64.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Citigroup increased their target price on shares of American Financial Group from $139.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 25th. Piper Sandler reiterated a “neutral” rating and issued a $129.00 price target on shares of American Financial Group in a research report on Monday, April 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $133.50.

Insider Buying and Selling

In related news, SVP Michelle A. Gillis sold 5,176 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $121.00, for a total transaction of $626,296.00. Following the sale, the senior vice president now owns 45,372 shares in the company, valued at $5,490,012. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other American Financial Group news, Director James E. Evans sold 2,274 shares of American Financial Group stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $128.64, for a total value of $292,527.36. Following the transaction, the director now owns 105,302 shares in the company, valued at approximately $13,546,049.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Michelle A. Gillis sold 5,176 shares of American Financial Group stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $121.00, for a total transaction of $626,296.00. Following the completion of the transaction, the senior vice president now owns 45,372 shares in the company, valued at approximately $5,490,012. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,843 shares of company stock worth $1,854,746. 14.50% of the stock is owned by insiders.

American Financial Group Stock Up 2.0 %

AFG stock opened at $127.95 on Friday. The company’s 50 day simple moving average is $129.06 and its 200-day simple moving average is $119.87. The firm has a market capitalization of $10.73 billion, a PE ratio of 12.73 and a beta of 0.79. American Financial Group, Inc. has a 12 month low of $105.22 and a 12 month high of $137.71. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.47 and a quick ratio of 0.47.

American Financial Group (NYSE:AFG) last released its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.84 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. American Financial Group had a net margin of 10.89% and a return on equity of 22.14%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the business earned $2.99 earnings per share. The company’s quarterly revenue was up 6.7% on a year-over-year basis. Equities analysts expect that American Financial Group, Inc. will post 10.99 earnings per share for the current fiscal year.

American Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.84 dividend on an annualized basis and a yield of 2.22%. American Financial Group’s dividend payout ratio (DPR) is currently 28.26%.

About American Financial Group

American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. The company 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 and specialty transportation 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.