Hsbc Holdings PLC Boosts Position in American Financial Group, Inc. $AFG

Hsbc Holdings PLC raised its holdings in shares of American Financial Group, Inc. (NYSE:AFG) by 72.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,590 shares of the insurance provider’s stock after buying an additional 40,888 shares during the period. Hsbc Holdings PLC’s holdings in American Financial Group were worth $13,346,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Royal Bank of Canada increased its position in shares of American Financial Group by 11.1% in the first quarter. Royal Bank of Canada now owns 75,421 shares of the insurance provider’s stock worth $9,905,000 after acquiring an additional 7,554 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of American Financial Group during the 1st quarter valued at $2,330,000. Jones Financial Companies Lllp boosted its position in American Financial Group by 145.8% during the 1st quarter. Jones Financial Companies Lllp now owns 1,278 shares of the insurance provider’s stock worth $168,000 after purchasing an additional 758 shares during the period. EverSource Wealth Advisors LLC boosted its position in American Financial Group by 144.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 793 shares of the insurance provider’s stock worth $100,000 after purchasing an additional 469 shares during the period. Finally, Cerity Partners LLC increased its holdings in American Financial Group by 62.4% in the 2nd quarter. Cerity Partners LLC now owns 2,941 shares of the insurance provider’s stock valued at $371,000 after purchasing an additional 1,130 shares in the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.

Insider Activity

In related news, SVP Michelle A. Gillis sold 2,247 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $139.00, for a total value of $312,333.00. Following the transaction, the senior vice president owned 13,135 shares in the company, valued at approximately $1,825,765. The trade was a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $135.05, for a total value of $1,535,518.50. Following the completion of the transaction, the insider directly owned 584,098 shares of the company’s stock, valued at $78,882,434.90. This represents a 1.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 16.90% of the company’s stock.

American Financial Group Price Performance

AFG opened at $135.77 on Friday. American Financial Group, Inc. has a twelve month low of $122.11 and a twelve month high of $150.02. The firm has a market cap of $11.28 billion, a price-to-earnings ratio of 12.91 and a beta of 0.64. 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 fifty day simple moving average of $132.71 and a 200 day simple moving average of $131.82.

American Financial Group (NYSE:AFG) last issued its quarterly earnings data on Thursday, April 30th. The insurance provider reported $2.47 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the prior year, the firm earned $1.81 EPS. The business’s quarterly revenue was down .1% compared to the same quarter last year. Equities research analysts expect that American Financial Group, Inc. will post 11.37 EPS 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. Stockholders of record on Wednesday, April 15th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, April 15th. American Financial Group’s payout ratio is presently 33.46%.

Analyst Upgrades and Downgrades

Several research analysts have commented on AFG shares. Wells Fargo & Company raised their price objective on American Financial Group from $155.00 to $158.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Piper Sandler upped their target price on American Financial Group from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. Weiss Ratings reiterated a “buy (b-)” rating on shares of American Financial Group in a research note on Thursday, June 11th. Finally, Keefe, Bruyette & Woods raised their target price on American Financial Group from $134.00 to $140.00 and gave the company a “market perform” rating in a report on Wednesday, March 25th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.