Sumitomo Mitsui Trust Group Inc. Cuts Stock Position in American Financial Group, Inc. (NYSE:AFG)

Sumitomo Mitsui Trust Group Inc. reduced its position in American Financial Group, Inc. (NYSE:AFG) by 0.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,645 shares of the insurance provider’s stock after selling 1,126 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.18% of American Financial Group worth $19,786,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sowell Financial Services LLC purchased a new position in shares of American Financial Group in the 1st quarter worth about $282,000. Intech Investment Management LLC boosted its holdings in shares of American Financial Group by 57.1% in the 4th quarter. Intech Investment Management LLC now owns 38,623 shares of the insurance provider’s stock worth $5,289,000 after purchasing an additional 14,045 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of American Financial Group by 10.5% in the 1st quarter. QRG Capital Management Inc. now owns 5,427 shares of the insurance provider’s stock worth $713,000 after purchasing an additional 514 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of American Financial Group by 2.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 53,162 shares of the insurance provider’s stock worth $6,982,000 after purchasing an additional 1,033 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new stake in American Financial Group during the 1st quarter valued at about $357,000. 64.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AFG. Keefe, Bruyette & Woods reduced their price target on American Financial Group from $126.00 to $125.00 and set a “market perform” rating on the stock in a research report on Friday, May 9th. Wall Street Zen lowered American Financial Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 21st.

American Financial Group Price Performance

AFG opened at $126.40 on Friday. The stock’s 50 day simple moving average is $124.61 and its 200 day simple moving average is $127.83. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.67 and a quick ratio of 0.67. American Financial Group, Inc. has a 1 year low of $114.73 and a 1 year high of $150.19. The firm has a market cap of $10.58 billion, a price-to-earnings ratio of 13.28 and a beta of 0.71.

American Financial Group (NYSE:AFG) last issued its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.36). The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.74 billion. American Financial Group had a return on equity of 18.34% and a net margin of 9.66%. American Financial Group’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.76 earnings per share. As a group, analysts predict that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Tuesday, July 15th will be given a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.53%. American Financial Group’s dividend payout ratio is currently 33.61%.

American Financial Group Company Profile

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.