American Financial Group, Inc. $AFG Shares Sold by Intech Investment Management LLC

by · The Markets Daily

Intech Investment Management LLC decreased its position in shares of American Financial Group, Inc. (NYSE:AFGFree Report) by 46.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,266 shares of the insurance provider’s stock after selling 9,578 shares during the quarter. Intech Investment Management LLC’s holdings in American Financial Group were worth $1,642,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in AFG. TD Asset Management Inc grew its stake in American Financial Group by 2.6% during the 3rd quarter. TD Asset Management Inc now owns 35,400 shares of the insurance provider’s stock worth $5,158,000 after buying an additional 894 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of American Financial Group by 11.5% during the third quarter. EverSource Wealth Advisors LLC now owns 884 shares of the insurance provider’s stock worth $129,000 after acquiring an additional 91 shares during the last quarter. Intrust Bank NA increased its holdings in shares of American Financial Group by 3.6% in the 3rd quarter. Intrust Bank NA now owns 2,935 shares of the insurance provider’s stock valued at $428,000 after acquiring an additional 102 shares during the period. Stevens Capital Management LP purchased a new stake in American Financial Group in the 3rd quarter valued at $545,000. Finally, GSA Capital Partners LLP acquired a new stake in American Financial Group during the 3rd quarter worth $248,000. 64.37% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other American Financial Group news, CFO Brian S. Hertzman sold 1,663 shares of the stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $133.70, for a total value of $222,343.10. Following the completion of the transaction, the chief financial officer directly owned 12,073 shares of the company’s stock, valued at approximately $1,614,160.10. This trade represents a 12.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 17.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wells Fargo & Company dropped their price objective on shares of American Financial Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. Jefferies Financial Group reissued a “hold” rating and set a $142.00 price target on shares of American Financial Group in a report on Tuesday, November 11th. Piper Sandler boosted their price target on American Financial Group from $130.00 to $139.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings cut American Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, American Financial Group currently has an average rating of “Hold” and an average target price of $141.25.

Read Our Latest Stock Analysis on AFG

American Financial Group Stock Down 0.8%

AFG opened at $131.67 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.23 and a quick ratio of 0.23. American Financial Group, Inc. has a 12 month low of $114.73 and a 12 month high of $150.02. The stock has a market capitalization of $10.97 billion, a P/E ratio of 13.08 and a beta of 0.69. The business has a 50 day simple moving average of $131.43 and a 200-day simple moving average of $135.47.

American Financial Group (NYSE:AFGGet Free Report) last released its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $3.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.47. The firm had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.79 billion. American Financial Group had a return on equity of 18.64% and a net margin of 10.30%.American Financial Group’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.12 earnings per share. On average, equities analysts anticipate that American Financial Group, Inc. will post 10.5 earnings per share for the current fiscal year.

American Financial Group Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Wednesday, February 25th. Investors of record on Monday, February 16th were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Friday, February 13th. American Financial Group’s payout ratio is currently 34.96%.

About American Financial Group

(Free Report)

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.

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