Verition Fund Management LLC reduced its holdings in American Financial Group, Inc. (NYSE:AFG – Get Rating) by 37.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,526 shares of the insurance provider’s stock after selling 3,318 shares during the quarter. Verition Fund Management LLC’s holdings in American Financial Group were worth $805,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of AFG. JPMorgan Chase & Co. boosted its holdings in shares of American Financial Group by 13.5% in the 4th quarter. JPMorgan Chase & Co. now owns 135,880 shares of the insurance provider’s stock worth $18,660,000 after acquiring an additional 16,165 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of American Financial Group by 28.3% in the 4th quarter. Allianz Asset Management GmbH now owns 41,806 shares of the insurance provider’s stock worth $5,741,000 after acquiring an additional 9,215 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of American Financial Group by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 364,255 shares of the insurance provider’s stock worth $50,020,000 after acquiring an additional 9,044 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of American Financial Group by 118.0% in the 4th quarter. Renaissance Technologies LLC now owns 26,600 shares of the insurance provider’s stock worth $3,653,000 after acquiring an additional 14,400 shares in the last quarter. Finally, PEAK6 Investments LLC acquired a new position in shares of American Financial Group in the 4th quarter worth approximately $254,000. 69.11% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, Morgan Stanley reduced their target price on American Financial Group from $147.00 to $146.00 and set an “equal weight” rating on the stock in a report on Friday, August 19th.
American Financial Group Stock Down 1.6 %
American Financial Group (NYSE:AFG – Get Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The insurance provider reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.61. American Financial Group had a return on equity of 23.56% and a net margin of 15.53%. During the same quarter in the prior year, the business posted $2.39 EPS. On average, analysts anticipate that American Financial Group, Inc. will post 11.55 EPS for the current year.
American Financial Group Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, July 25th. Shareholders of record on Friday, July 15th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Thursday, July 14th. American Financial Group’s payout ratio is 18.51%.
About American Financial Group
American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. It 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.
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