Pensionfund Sabic Lowers Position in American Financial Group, Inc. (NYSE:AFG)

Pensionfund Sabic trimmed its position in shares of American Financial Group, Inc. (NYSE:AFG) by 15.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,000 shares of the insurance provider’s stock after selling 1,500 shares during the quarter. Pensionfund Sabic’s holdings in American Financial Group were worth $1,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in American Financial Group by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 836,619 shares of the insurance provider’s stock worth $102,921,000 after purchasing an additional 7,797 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of American Financial Group by 3.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 648,878 shares of the insurance provider’s stock valued at $77,145,000 after acquiring an additional 18,945 shares in the last quarter. Johnson Investment Counsel Inc. increased its position in shares of American Financial Group by 0.4% during the second quarter. Johnson Investment Counsel Inc. now owns 576,174 shares of the insurance provider’s stock valued at $70,881,000 after acquiring an additional 2,389 shares during the last quarter. Bahl & Gaynor Inc. lifted its holdings in American Financial Group by 8.6% during the second quarter. Bahl & Gaynor Inc. now owns 492,021 shares of the insurance provider’s stock worth $60,528,000 after acquiring an additional 38,937 shares during the period. Finally, Boston Trust Walden Corp grew its stake in American Financial Group by 2.8% in the 2nd quarter. Boston Trust Walden Corp now owns 431,218 shares of the insurance provider’s stock valued at $53,048,000 after purchasing an additional 11,897 shares during the period. Institutional investors own 64.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. BMO Capital Markets lifted their target price on American Financial Group from $132.00 to $135.00 and gave the stock a “market perform” rating in a research note on Tuesday. Citigroup lowered shares of American Financial Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $144.00 to $137.00 in a research report on Friday, June 28th.

American Financial Group Stock Performance

Shares of AFG opened at $135.85 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.46 and a quick ratio of 0.46. The firm has a market cap of $11.40 billion, a PE ratio of 12.82 and a beta of 0.78. American Financial Group, Inc. has a 1 year low of $105.22 and a 1 year high of $138.81. The stock’s fifty day moving average price is $132.44 and its two-hundred day moving average price is $129.69.

American Financial Group (NYSE:AFG) last announced its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.11. American Financial Group had a net margin of 11.06% and a return on equity of 21.16%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the company posted $2.38 EPS. American Financial Group’s revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts forecast that American Financial Group, Inc. will post 10.99 EPS for the current year.

American Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.80 per share. The ex-dividend date is Tuesday, October 15th. This is a positive change from American Financial Group’s previous quarterly dividend of $0.71. This represents a $3.20 annualized dividend and a yield of 2.36%. American Financial Group’s payout ratio is presently 26.79%.

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.