American Financial Group, Inc. (NYSE:AFG) Sees Large Decrease in Short Interest

American Financial Group, Inc. (NYSE:AFG) was the target of a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 1,540,601 shares, a decrease of 22.0% from the February 26th total of 1,975,172 shares. Based on an average daily trading volume, of 459,785 shares, the days-to-cover ratio is currently 3.4 days. Currently, 2.2% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

AFG has been the topic of a number of research reports. Weiss Ratings raised American Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 16th. Keefe, Bruyette & Woods lifted their price target on shares of American Financial Group from $134.00 to $140.00 and gave the company a “market perform” rating in a research report on Wednesday. Finally, Wells Fargo & Company decreased their price target on shares of American Financial Group from $165.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, American Financial Group has an average rating of “Hold” and a consensus target price of $145.25.

American Financial Group Price Performance

Shares of NYSE AFG opened at $125.58 on Friday. The stock has a market cap of $10.46 billion, a price-to-earnings ratio of 12.47 and a beta of 0.69. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.23 and a current ratio of 0.23. American Financial Group has a fifty-two week low of $114.73 and a fifty-two week high of $150.02. The firm’s 50-day simple moving average is $129.35 and its 200 day simple moving average is $134.57.

American Financial Group (NYSE:AFG) last issued its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $3.65 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.47. The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.79 billion. American Financial Group had a return on equity of 18.64% and a net margin of 10.30%.The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.12 EPS. As a group, research analysts anticipate that American Financial Group will post 10.5 earnings per share for the current fiscal year.

American Financial Group Announces Dividend

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

Insider Transactions at American Financial Group

In other American Financial Group news, CFO Brian S. Hertzman sold 1,663 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $133.70, for a total value of $222,343.10. Following the completion of the sale, the chief financial officer 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 legal filing with the SEC, which is accessible through this hyperlink. Insiders own 17.40% of the company’s stock.

Institutional Trading of American Financial Group

Several institutional investors have recently made changes to their positions in AFG. Global Retirement Partners LLC raised its holdings in shares of American Financial Group by 904.8% in the fourth quarter. Global Retirement Partners LLC now owns 211 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 190 shares during the last quarter. Alpine Bank Wealth Management bought a new position in shares of American Financial Group during the third quarter valued at about $30,000. Root Financial Partners LLC purchased a new position in American Financial Group during the third quarter worth about $34,000. Clearstead Advisors LLC boosted its holdings in American Financial Group by 87.7% during the fourth quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 121 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in American Financial Group by 165.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 273 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 170 shares in the last quarter. Institutional investors own 64.37% of the company’s stock.

About American Financial Group

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.