American Financial Group, Inc. $AFG Shares Sold by Royal Bank of Canada

Royal Bank of Canada lowered its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 27.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,052 shares of the insurance provider’s stock after selling 22,218 shares during the quarter. Royal Bank of Canada owned 0.07% of American Financial Group worth $7,541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of AFG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in American Financial Group during the 1st quarter worth about $2,330,000. Jones Financial Companies Lllp boosted its stake in shares of American Financial Group by 145.8% in the 1st quarter. Jones Financial Companies Lllp now owns 1,278 shares of the insurance provider’s stock valued at $168,000 after buying an additional 758 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of American Financial Group by 144.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 793 shares of the insurance provider’s stock valued at $100,000 after buying an additional 469 shares during the period. Cerity Partners LLC grew its position in shares of American Financial Group by 62.4% during the second quarter. Cerity Partners LLC now owns 2,941 shares of the insurance provider’s stock worth $371,000 after buying an additional 1,130 shares in the last quarter. Finally, AXA S.A. grew its position in shares of American Financial Group by 2.2% during the second quarter. AXA S.A. now owns 19,612 shares of the insurance provider’s stock worth $2,475,000 after buying an additional 418 shares in the last quarter. 64.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AFG shares. Keefe, Bruyette & Woods raised their target price on shares of American Financial Group from $140.00 to $148.00 and gave the company a “market perform” rating in a report on Wednesday, July 8th. Piper Sandler boosted their price target on shares of American Financial Group from $140.00 to $156.00 and gave the stock a “neutral” rating in a report on Monday. Weiss Ratings reissued a “buy (b-)” rating on shares of American Financial Group in a research report on Thursday, June 11th. Finally, Wells Fargo & Company raised their price objective on shares of American Financial Group from $158.00 to $173.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $154.75.

Insider Activity at American Financial Group

In other American Financial Group news, VP Mark A. Weiss sold 2,813 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $144.76, for a total value of $407,209.88. Following the completion of the transaction, the vice president owned 6,648 shares in the company, valued at $962,364.48. This represents a 29.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Michelle A. Gillis sold 2,247 shares of the firm’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 directly owned 13,135 shares in the company, valued at approximately $1,825,765. The trade was a 14.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 16,430 shares of company stock valued at $2,255,061 over the last ninety days. Insiders own 16.90% of the company’s stock.

American Financial Group Stock Performance

Shares of AFG opened at $143.52 on Tuesday. The company has a market capitalization of $11.93 billion, a price-to-earnings ratio of 12.55 and a beta of 0.62. American Financial Group, Inc. has a 52-week low of $123.09 and a 52-week high of $150.02. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.38. The stock has a 50 day moving average price of $138.83 and a 200 day moving average price of $133.44.

American Financial Group (NYSE:AFG) last released its quarterly earnings data on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.50. The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.85 billion. American Financial Group had a net margin of 11.51% and a return on equity of 20.35%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $2.14 earnings per share. Research analysts predict that American Financial Group, Inc. will post 11.37 EPS for the current fiscal year.

American Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Wednesday, July 15th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, July 15th. American Financial Group’s dividend payout ratio (DPR) is currently 30.77%.

American Financial Group Company 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.