American Financial Group, Inc. $AFG Stock Position Trimmed by Franklin Resources Inc.

Franklin Resources Inc. decreased its position in American Financial Group, Inc. (NYSE:AFG) by 33.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,067 shares of the insurance provider’s stock after selling 13,051 shares during the period. Franklin Resources Inc.’s holdings in American Financial Group were worth $3,290,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AFG. Hantz Financial Services Inc. raised its holdings in shares of American Financial Group by 421.1% during the second quarter. Hantz Financial Services Inc. now owns 198 shares of the insurance provider’s stock valued at $25,000 after buying an additional 160 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in American Financial Group in the 2nd quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd bought a new stake in American Financial Group during the 1st quarter valued at $34,000. Headlands Technologies LLC acquired a new position in American Financial Group during the 1st quarter worth $55,000. Finally, IFP Advisors Inc grew its stake in shares of American Financial Group by 86.7% in the second quarter. IFP Advisors Inc now owns 422 shares of the insurance provider’s stock worth $57,000 after purchasing an additional 196 shares in the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.

Insider Buying and Selling at American Financial Group

In other news, CFO Brian S. Hertzman sold 1,777 shares of American Financial Group stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $142.51, for a total value of $253,240.27. Following the transaction, the chief financial officer directly owned 11,300 shares of the company’s stock, valued at $1,610,363. This trade represents a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 17.40% of the stock is currently owned by company insiders.

American Financial Group Price Performance

Shares of NYSE:AFG opened at $133.22 on Wednesday. The company has a market capitalization of $11.11 billion, a PE ratio of 13.99 and a beta of 0.69. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a fifty day moving average of $138.41 and a 200-day moving average of $132.33. American Financial Group, Inc. has a one year low of $114.73 and a one year high of $150.02.

American Financial Group (NYSE:AFG) last announced its earnings results on Wednesday, November 5th. The insurance provider reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.34. American Financial Group had a return on equity of 18.05% and a net margin of 9.66%.The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the firm earned $2.31 earnings per share. American Financial Group’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, equities analysts anticipate that American Financial Group, Inc. will post 10.5 EPS for the current fiscal year.

American Financial Group Announces Dividend

The company also recently announced a special dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th were issued a $2.00 dividend. The ex-dividend date was Monday, November 17th. American Financial Group’s dividend payout ratio (DPR) is presently 36.97%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AFG. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American Financial Group in a report on Monday. Jefferies Financial Group reaffirmed a “hold” rating and issued a $142.00 price target on shares of American Financial Group in a research note on Tuesday, November 11th. Keefe, Bruyette & Woods decreased their price objective on shares of American Financial Group from $127.00 to $124.00 and set a “market perform” rating for the company in a report on Tuesday, August 12th. Piper Sandler raised their price objective on shares of American Financial Group from $130.00 to $139.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Finally, Wall Street Zen raised American Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, American Financial Group currently has an average rating of “Hold” and an average target price of $135.00.

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.