Allspring Global Investments Holdings LLC Decreases Holdings in American Financial Group, Inc. (NYSE:AFG)

Allspring Global Investments Holdings LLC trimmed its stake in shares of American Financial Group, Inc. (NYSE:AFG – Get Rating) by 16.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,781 shares of the insurance provider’s stock after selling 2,676 shares during the period. Allspring Global Investments Holdings LLC’s holdings in American Financial Group were worth $1,694,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. First Horizon Advisors Inc. increased its position in American Financial Group by 5,400.0% during the second quarter. First Horizon Advisors Inc. now owns 220 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 216 shares during the last quarter. McIlrath & Eck LLC purchased a new position in shares of American Financial Group in the second quarter valued at approximately $42,000. Ronald Blue Trust Inc. lifted its stake in American Financial Group by 166.9% in the third quarter. Ronald Blue Trust Inc. now owns 331 shares of the insurance provider’s stock worth $46,000 after acquiring an additional 207 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in American Financial Group in the third quarter worth approximately $49,000. Finally, Hexagon Capital Partners LLC purchased a new position in American Financial Group in the third quarter worth approximately $51,000. 64.04% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider John B. Berding sold 4,000 shares of the firm’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $148.87, for a total transaction of $595,480.00. Following the transaction, the insider now directly owns 36,083 shares of the company’s stock, valued at $5,371,676.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider John B. Berding sold 4,000 shares of American Financial Group stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $148.87, for a total transaction of $595,480.00. Following the transaction, the insider now directly owns 36,083 shares of the company’s stock, valued at $5,371,676.21. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John B. Berding sold 12,745 shares of the stock in a transaction on Friday, November 4th. The shares were sold at an average price of $146.24, for a total value of $1,863,828.80. Following the completion of the transaction, the insider now owns 36,083 shares of the company’s stock, valued at approximately $5,276,777.92. The disclosure for this sale can be found here. 14.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AFG. BMO Capital Markets began coverage on shares of American Financial Group in a report on Thursday. They set a “market perform” rating and a $155.00 price objective on the stock. Piper Sandler boosted their price objective on shares of American Financial Group from $162.00 to $168.00 and gave the company an “overweight” rating in a research note on Tuesday, January 10th. StockNews.com began coverage on shares of American Financial Group in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Morgan Stanley boosted their target price on shares of American Financial Group from $146.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 22nd. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $162.75.

American Financial Group Stock Down 0.5 %

AFG opened at $136.65 on Friday. The firm has a 50 day moving average price of $138.87 and a 200 day moving average price of $134.68. The company has a market cap of $11.63 billion, a PE ratio of 11.91 and a beta of 0.83. American Financial Group, Inc. has a 1 year low of $119.01 and a 1 year high of $152.29. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.46 and a current ratio of 0.46.

American Financial Group (NYSE:AFG – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The insurance provider reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.04. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.51 billion. American Financial Group had a return on equity of 24.41% and a net margin of 14.22%. American Financial Group’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.71 EPS. Sell-side analysts expect that American Financial Group, Inc. will post 11.6 earnings per share for the current year.

American Financial Group Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Friday, January 13th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.84%. The ex-dividend date is Thursday, January 12th. American Financial Group’s dividend payout ratio is presently 21.97%.

American Financial Group Company Profile

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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.