KBC Group NV Trims Position in American Financial Group, Inc. $AFG

KBC Group NV decreased its holdings in shares of American Financial Group, Inc. (NYSE:AFG) by 78.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 15,412 shares of the insurance provider’s stock after selling 56,500 shares during the period. KBC Group NV’s holdings in American Financial Group were worth $1,945,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Mitsubishi UFJ Trust & Banking Corp increased its stake in American Financial Group by 4.8% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,707 shares of the insurance provider’s stock valued at $4,507,000 after purchasing an additional 1,633 shares during the last quarter. Vise Technologies Inc. purchased a new stake in American Financial Group in the 2nd quarter valued at about $221,000. Allworth Financial LP grew its holdings in American Financial Group by 4,760.7% in the 2nd quarter. Allworth Financial LP now owns 46,468 shares of the insurance provider’s stock valued at $5,865,000 after buying an additional 45,512 shares during the period. ProShare Advisors LLC increased its stake in shares of American Financial Group by 13.2% during the 2nd quarter. ProShare Advisors LLC now owns 257,725 shares of the insurance provider’s stock valued at $32,527,000 after acquiring an additional 30,050 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of American Financial Group by 16.7% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,591 shares of the insurance provider’s stock worth $8,152,000 after acquiring an additional 9,263 shares during the period. 64.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at American Financial Group

In other news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $134.31, for a total value of $1,343,100.00. Following the completion of the sale, the director owned 326,730 shares in the company, valued at approximately $43,883,106.30. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian S. Hertzman sold 1,777 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was 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 in the company, valued at $1,610,363. This trade represents a 13.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 17.40% of the stock is currently owned by company insiders.

American Financial Group Price Performance

American Financial Group stock opened at $142.29 on Monday. The firm has a fifty day moving average of $139.09 and a 200-day moving average of $131.33. American Financial Group, Inc. has a 52-week low of $114.73 and a 52-week high of $150.19. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $11.87 billion, a P/E ratio of 15.64 and a beta of 0.78.

American Financial Group (NYSE:AFG) last posted its earnings results on Wednesday, November 5th. The insurance provider reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.34. American Financial Group had a net margin of 9.21% and a return on equity of 17.41%. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the previous year, the business posted $2.31 EPS. The business’s quarterly revenue was up 13.4% on a year-over-year basis. As a group, analysts predict that American Financial Group, Inc. will post 10.5 EPS for the current year.

American Financial Group Announces Dividend

The business also recently announced a special dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th will be given a $2.00 dividend. The ex-dividend date of this dividend is Monday, November 17th. American Financial Group’s dividend payout ratio is presently 36.97%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AFG shares. Keefe, Bruyette & Woods decreased their target price on shares of American Financial Group from $127.00 to $124.00 and set a “market perform” rating on the stock in a research report on Tuesday, August 12th. Jefferies Financial Group reiterated a “hold” rating and issued a $142.00 price target on shares of American Financial Group in a report on Tuesday, November 11th. Piper Sandler boosted their price objective on shares of American Financial Group from $130.00 to $139.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Weiss Ratings restated a “buy (b-)” rating on shares of American Financial Group in a report on Thursday. Finally, Wall Street Zen upgraded American Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $135.00.

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.