Principal Financial Group Inc. Lowers Stake in American Financial Group, Inc. (NYSE:AFG)

Principal Financial Group Inc. decreased its position in American Financial Group, Inc. (NYSE:AFG) by 22.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 172,360 shares of the insurance provider’s stock after selling 51,238 shares during the quarter. Principal Financial Group Inc.’s holdings in American Financial Group were worth $23,200,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in AFG. Innealta Capital LLC acquired a new stake in shares of American Financial Group in the second quarter valued at $30,000. Headlands Technologies LLC purchased a new position in American Financial Group during the 2nd quarter valued at about $38,000. nVerses Capital LLC grew its position in American Financial Group by 200.0% in the 2nd quarter. nVerses Capital LLC now owns 600 shares of the insurance provider’s stock valued at $74,000 after acquiring an additional 400 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in American Financial Group during the second quarter worth about $85,000. Finally, Abich Financial Wealth Management LLC lifted its position in shares of American Financial Group by 35.6% during the second quarter. Abich Financial Wealth Management LLC now owns 716 shares of the insurance provider’s stock worth $88,000 after purchasing an additional 188 shares in the last quarter. 64.37% of the stock is currently owned by institutional investors and hedge funds.

American Financial Group Stock Up 0.8 %

AFG stock opened at $138.33 on Thursday. The company’s 50 day moving average price is $138.24 and its 200 day moving average price is $132.66. The firm has a market capitalization of $11.61 billion, a price-to-earnings ratio of 12.96 and a beta of 0.82. American Financial Group, Inc. has a fifty-two week low of $115.64 and a fifty-two week high of $150.19. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.53 and a current ratio of 0.53.

American Financial Group (NYSE:AFG) last announced its quarterly earnings data on Tuesday, November 5th. The insurance provider reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). The firm had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.80 billion. American Financial Group had a net margin of 10.84% and a return on equity of 19.97%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.45 earnings per share. On average, equities research analysts anticipate that American Financial Group, Inc. will post 10.73 EPS for the current fiscal year.

American Financial Group Increases Dividend

The firm also recently disclosed a None dividend, which was paid on Tuesday, November 26th. Stockholders of record on Friday, November 15th were given a dividend of $4.00 per share. This is a boost from American Financial Group’s previous None dividend of $1.00. The ex-dividend date was Friday, November 15th. American Financial Group’s dividend payout ratio is currently 29.99%.

Wall Street Analyst Weigh In

AFG has been the topic of several recent research reports. BMO Capital Markets upped their target price on shares of American Financial Group from $135.00 to $143.00 and gave the stock a “market perform” rating in a research note on Friday, November 15th. Piper Sandler upped their price objective on American Financial Group from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th.

About American Financial Group

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.