Comerica Bank Trims Stake in American Financial Group, Inc. (NYSE:AFG)

Comerica Bank cut its position in shares of American Financial Group, Inc. (NYSE:AFG) by 4.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,650 shares of the insurance provider’s stock after selling 965 shares during the period. Comerica Bank’s holdings in American Financial Group were worth $3,101,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. UMB Bank n.a. raised its holdings in shares of American Financial Group by 86.8% in the fourth quarter. UMB Bank n.a. now owns 340 shares of the insurance provider’s stock valued at $47,000 after acquiring an additional 158 shares in the last quarter. Natixis bought a new stake in shares of American Financial Group in the 4th quarter valued at about $47,000. Jones Financial Companies Lllp boosted its stake in shares of American Financial Group by 91.2% during the fourth quarter. Jones Financial Companies Lllp now owns 520 shares of the insurance provider’s stock valued at $71,000 after purchasing an additional 248 shares in the last quarter. Allworth Financial LP increased its holdings in American Financial Group by 301.1% during the fourth quarter. Allworth Financial LP now owns 702 shares of the insurance provider’s stock valued at $94,000 after buying an additional 527 shares during the period. Finally, GAMMA Investing LLC raised its stake in American Financial Group by 31.6% in the fourth quarter. GAMMA Investing LLC now owns 1,059 shares of the insurance provider’s stock worth $145,000 after buying an additional 254 shares in the last quarter. 64.37% of the stock is currently owned by hedge funds and other institutional investors.

American Financial Group Stock Down 6.2 %

NYSE:AFG opened at $121.87 on Thursday. The company’s 50-day simple moving average is $126.63 and its 200-day simple moving average is $131.94. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.53 and a current ratio of 0.53. American Financial Group, Inc. has a fifty-two week low of $114.73 and a fifty-two week high of $150.19. The stock has a market capitalization of $10.20 billion, a P/E ratio of 11.53 and a beta of 0.72.

American Financial Group (NYSE:AFG) last announced its earnings results on Tuesday, May 6th. The insurance provider reported $1.81 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.36). American Financial Group had a net margin of 10.66% and a return on equity of 20.30%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the business earned $2.76 earnings per share. American Financial Group’s revenue was down 2.6% on a year-over-year basis. On average, equities analysts anticipate that American Financial Group, Inc. will post 10.5 earnings per share for the current fiscal year.

American Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Tuesday, April 15th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date was Tuesday, April 15th. American Financial Group’s dividend payout ratio (DPR) is presently 30.27%.

Insiders Place Their Bets

In related news, Director Gregory G. Joseph acquired 3,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were purchased at an average price of $121.00 per share, for a total transaction of $363,000.00. Following the completion of the acquisition, the director now directly owns 57,477 shares in the company, valued at $6,954,717. The trade was a 5.51 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 17.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods dropped their target price on American Financial Group from $144.00 to $126.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 9th.

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.