Retirement Systems of Alabama Sells 4,101 Shares of American Financial Group, Inc. $AFG

Retirement Systems of Alabama reduced its holdings in shares of American Financial Group, Inc. (NYSE:AFG) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 163,187 shares of the insurance provider’s stock after selling 4,101 shares during the quarter. Retirement Systems of Alabama’s holdings in American Financial Group were worth $23,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. CIBC Asset Management Inc lifted its stake in American Financial Group by 10.2% during the 3rd quarter. CIBC Asset Management Inc now owns 5,199 shares of the insurance provider’s stock valued at $758,000 after acquiring an additional 482 shares during the period. Rakuten Investment Management Inc. purchased a new position in shares of American Financial Group during the third quarter valued at approximately $9,432,000. Root Financial Partners LLC bought a new position in American Financial Group during the third quarter valued at approximately $34,000. Nordwand Advisors LLC boosted its holdings in American Financial Group by 2.2% in the third quarter. Nordwand Advisors LLC now owns 13,810 shares of the insurance provider’s stock worth $2,012,000 after purchasing an additional 300 shares during the last quarter. Finally, Allstate Corp bought a new stake in American Financial Group in the 3rd quarter worth approximately $326,000. 64.37% of the stock is currently owned by institutional investors.

American Financial Group Stock Up 0.1%

AFG stock opened at $127.93 on Tuesday. The business’s 50-day moving average price is $134.74 and its 200-day moving average price is $134.99. The stock has a market cap of $10.67 billion, a P/E ratio of 13.44 and a beta of 0.70. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.38. American Financial Group, Inc. has a twelve month low of $114.73 and a twelve month high of $150.02.

American Financial Group (NYSE:AFG) last released its earnings results on Wednesday, November 5th. The insurance provider reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.34. The company had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.02 billion. American Financial Group had a net margin of 9.66% and a return on equity of 18.05%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.31 EPS. On average, equities research analysts forecast that American Financial Group, Inc. will post 10.5 EPS for the current year.

American Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 27th. Investors of record on Thursday, January 15th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $3.52 annualized dividend and a yield of 2.8%. American Financial Group’s dividend payout ratio is currently 36.97%.

Insider Transactions at American Financial Group

In other American Financial Group news, CFO Brian S. Hertzman sold 1,777 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $142.51, for a total transaction of $253,240.27. Following the sale, the chief financial officer directly owned 11,300 shares of the company’s stock, valued at $1,610,363. This trade represents a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 17.40% of the company’s stock.

Analyst Upgrades and Downgrades

AFG has been the topic of several research analyst reports. Jefferies Financial Group reissued a “hold” rating and set a $142.00 price target on shares of American Financial Group in a report on Tuesday, November 11th. Piper Sandler increased their target price on American Financial Group from $130.00 to $139.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Wells Fargo & Company began coverage on American Financial Group in a research note on Thursday, January 15th. They set an “overweight” rating and a $165.00 price target for the company. Finally, Weiss Ratings downgraded shares of American Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, American Financial Group has a consensus rating of “Hold” and an average target price of $142.50.

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.