Commonwealth Equity Services LLC Cuts Stake in American Financial Group, Inc. (NYSE:AFG)

Commonwealth Equity Services LLC lessened its position in shares of American Financial Group, Inc. (NYSE:AFG) by 7.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,665 shares of the insurance provider’s stock after selling 828 shares during the quarter. Commonwealth Equity Services LLC’s holdings in American Financial Group were worth $1,312,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in American Financial Group during the 2nd quarter valued at approximately $30,000. Covestor Ltd lifted its stake in shares of American Financial Group by 402.3% in the 1st quarter. Covestor Ltd now owns 432 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 346 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of American Financial Group by 44.3% in the 2nd quarter. Blue Trust Inc. now owns 433 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 133 shares during the last quarter. Abich Financial Wealth Management LLC lifted its stake in shares of American Financial Group by 10,460.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 528 shares of the insurance provider’s stock valued at $72,000 after purchasing an additional 523 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of American Financial Group by 59.2% in the 2nd quarter. GAMMA Investing LLC now owns 769 shares of the insurance provider’s stock valued at $95,000 after purchasing an additional 286 shares during the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Citigroup lowered American Financial Group from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $144.00 to $137.00 in a research note on Friday, June 28th.

American Financial Group Trading Up 0.8 %

AFG opened at $134.27 on Monday. American Financial Group, Inc. has a 52 week low of $105.22 and a 52 week high of $137.95. The stock’s fifty day moving average is $128.92 and its two-hundred day moving average is $128.88. The company has a market capitalization of $11.26 billion, a P/E ratio of 12.85 and a beta of 0.78. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.34.

American Financial Group (NYSE:AFG) last announced its earnings results on Tuesday, August 6th. The insurance provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.11. American Financial Group had a return on equity of 21.16% and a net margin of 11.06%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the business earned $2.38 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts forecast that American Financial Group, Inc. will post 10.96 earnings per share for the current year.

American Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 15th were given a dividend of $0.71 per share. The ex-dividend date was Monday, July 15th. This represents a $2.84 dividend on an annualized basis and a yield of 2.12%. American Financial Group’s dividend payout ratio is currently 27.18%.

Insiders Place Their Bets

In other news, Director Amy Y. Murray purchased 1,200 shares of the stock in a transaction on Friday, June 28th. The stock was bought at an average price of $125.17 per share, with a total value of $150,204.00. Following the transaction, the director now owns 1,200 shares in the company, valued at approximately $150,204. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.50% of the stock is currently owned by insiders.

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.