Goldman Sachs Group Inc. Decreases Stock Holdings in American Financial Group, Inc. $AFG

Goldman Sachs Group Inc. trimmed its position in shares of American Financial Group, Inc. (NYSE:AFG) by 9.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 770,864 shares of the insurance provider’s stock after selling 84,354 shares during the period. Goldman Sachs Group Inc.’s holdings in American Financial Group were worth $105,362,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. ProShare Advisors LLC increased its holdings in shares of American Financial Group by 8.0% during the third quarter. ProShare Advisors LLC now owns 278,279 shares of the insurance provider’s stock valued at $40,551,000 after acquiring an additional 20,554 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of American Financial Group by 10.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,127,518 shares of the insurance provider’s stock valued at $164,293,000 after acquiring an additional 110,872 shares in the last quarter. Capula Management Ltd acquired a new position in shares of American Financial Group during the third quarter valued at about $2,087,000. UBS Group AG increased its holdings in shares of American Financial Group by 10.1% during the fourth quarter. UBS Group AG now owns 581,805 shares of the insurance provider’s stock valued at $79,521,000 after acquiring an additional 53,431 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of American Financial Group by 32.4% during the third quarter. JPMorgan Chase & Co. now owns 407,772 shares of the insurance provider’s stock valued at $59,421,000 after acquiring an additional 99,898 shares in the last quarter. 64.37% of the stock is owned by hedge funds and other institutional investors.

American Financial Group Price Performance

Shares of NYSE:AFG opened at $131.36 on Wednesday. American Financial Group, Inc. has a twelve month low of $121.98 and a twelve month high of $150.02. The company’s 50 day moving average is $131.66 and its 200 day moving average is $131.93. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.39. The company has a market cap of $10.91 billion, a PE ratio of 12.49 and a beta of 0.64.

American Financial Group (NYSE:AFG) last issued its quarterly earnings results on Thursday, April 30th. The insurance provider reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.54 by ($0.07). American Financial Group had a return on equity of 19.50% and a net margin of 10.76%.The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the company posted $1.81 EPS. American Financial Group’s quarterly revenue was down .1% compared to the same quarter last year. On average, sell-side analysts forecast that American Financial Group, Inc. will post 11.37 EPS for the current year.

American Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Wednesday, April 15th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 2.7%. The ex-dividend date was Wednesday, April 15th. American Financial Group’s dividend payout ratio is 33.46%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AFG shares. Keefe, Bruyette & Woods upped their price objective on shares of American Financial Group from $134.00 to $140.00 and gave the company a “market perform” rating in a report on Wednesday, March 25th. Wells Fargo & Company upped their price objective on shares of American Financial Group from $155.00 to $158.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of American Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 16th. Finally, Piper Sandler upped their price objective on shares of American Financial Group from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $145.00.

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.