Victory Capital Management Inc. Sells 160,092 Shares of American Financial Group, Inc. $AFG

Victory Capital Management Inc. trimmed its holdings in shares of American Financial Group, Inc. (NYSE:AFG) by 5.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,803,850 shares of the insurance provider’s stock after selling 160,092 shares during the quarter. Victory Capital Management Inc.’s holdings in American Financial Group were worth $383,230,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AFG. Norges Bank bought a new stake in shares of American Financial Group during the fourth quarter worth approximately $114,661,000. M&T Bank Corp increased its stake in American Financial Group by 20,131.5% in the fourth quarter. M&T Bank Corp now owns 637,090 shares of the insurance provider’s stock valued at $87,077,000 after purchasing an additional 633,941 shares in the last quarter. Vestor Capital LLC increased its stake in American Financial Group by 100,006.8% in the fourth quarter. Vestor Capital LLC now owns 600,641 shares of the insurance provider’s stock valued at $82,096,000 after purchasing an additional 600,041 shares in the last quarter. Northern Trust Corp increased its stake in American Financial Group by 33.2% in the third quarter. Northern Trust Corp now owns 1,026,783 shares of the insurance provider’s stock valued at $149,623,000 after purchasing an additional 255,693 shares in the last quarter. Finally, Woodline Partners LP increased its stake in American Financial Group by 58.4% in the third quarter. Woodline Partners LP now owns 621,623 shares of the insurance provider’s stock valued at $90,583,000 after purchasing an additional 229,140 shares in the last quarter. 64.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

American Financial Group Stock Up 1.2%

Shares of AFG stock opened at $134.00 on Friday. The firm has a fifty day moving average of $132.01 and a 200-day moving average of $131.88. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.39. American Financial Group, Inc. has a 12-month low of $121.98 and a 12-month high of $150.02. The company has a market capitalization of $11.13 billion, a price-to-earnings ratio of 12.74 and a beta of 0.64.

American Financial Group (NYSE:AFG) last issued its quarterly earnings data on Thursday, April 30th. The insurance provider reported $2.47 earnings per share (EPS) 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 company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the company earned $1.81 EPS. The firm’s revenue was down .1% on a year-over-year basis. As a group, equities research analysts predict that American Financial Group, Inc. will post 11.37 earnings per share for the current fiscal year.

American Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Wednesday, April 15th were issued a dividend of $0.88 per share. The ex-dividend date was Wednesday, April 15th. This represents a $3.52 annualized dividend and a yield of 2.6%. American Financial Group’s dividend payout ratio is presently 33.46%.

About American Financial Group

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.