Acadian Asset Management LLC cut its position in American Financial Group, Inc. (NYSE:AFG – Get Rating) by 0.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,812 shares of the insurance provider’s stock after selling 151 shares during the period. Acadian Asset Management LLC’s holdings in American Financial Group were worth $5,939,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. FORA Capital LLC acquired a new stake in shares of American Financial Group in the 1st quarter valued at about $290,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in American Financial Group by 6,726.0% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 34,130 shares of the insurance provider’s stock valued at $4,970,000 after purchasing an additional 33,630 shares during the last quarter. Natixis Advisors L.P. lifted its position in shares of American Financial Group by 3.5% during the 1st quarter. Natixis Advisors L.P. now owns 21,378 shares of the insurance provider’s stock worth $3,113,000 after buying an additional 716 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of American Financial Group by 4.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,474 shares of the insurance provider’s stock worth $798,000 after purchasing an additional 212 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of American Financial Group in the 1st quarter worth approximately $2,904,000. 69.11% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the stock. Morgan Stanley reduced their price target on shares of American Financial Group from $147.00 to $146.00 and set an “equal weight” rating for the company in a research report on Friday, August 19th. Keefe, Bruyette & Woods boosted their price target on shares of American Financial Group to $178.00 and gave the stock a “na” rating in a research note on Monday, May 16th.
American Financial Group Stock Performance
American Financial Group (NYSE:AFG – Get Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The insurance provider reported $2.85 EPS for the quarter, beating the consensus estimate of $2.24 by $0.61. American Financial Group had a net margin of 15.53% and a return on equity of 23.56%. During the same quarter in the prior year, the business earned $2.39 earnings per share. As a group, equities analysts anticipate that American Financial Group, Inc. will post 11.55 EPS for the current year.
American Financial Group Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, July 25th. Investors of record on Friday, July 15th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Thursday, July 14th. American Financial Group’s payout ratio is currently 18.51%.
About American Financial Group
American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. 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 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.
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