California Public Employees Retirement System Has $17.46 Million Stock Holdings in American Financial Group, Inc. $AFG

California Public Employees Retirement System lowered its stake in American Financial Group, Inc. (NYSE:AFG) by 6.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,737 shares of the insurance provider’s stock after selling 9,031 shares during the period. California Public Employees Retirement System owned 0.16% of American Financial Group worth $17,463,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Retirement Partners LLC lifted its stake in shares of American Financial Group by 904.8% in the 4th quarter. Global Retirement Partners LLC now owns 211 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 190 shares during the last quarter. Clearstead Advisors LLC boosted its holdings in shares of American Financial Group by 87.7% during the 4th quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 121 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in American Financial Group during the 4th quarter worth $45,000. CIBC Private Wealth Group LLC grew its position in American Financial Group by 86.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 376 shares of the insurance provider’s stock worth $51,000 after acquiring an additional 174 shares during the last quarter. Finally, Quarry LP acquired a new position in American Financial Group in the 4th quarter worth about $52,000. Institutional investors own 64.37% of the company’s stock.

American Financial Group Stock Performance

NYSE AFG opened at $141.09 on Friday. The company has a market capitalization of $11.72 billion, a price-to-earnings ratio of 13.41 and a beta of 0.62. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.39. American Financial Group, Inc. has a twelve month low of $122.11 and a twelve month high of $150.02. The stock has a fifty day simple moving average of $136.64 and a 200 day simple moving average of $132.47.

American Financial Group (NYSE:AFG) last announced its earnings results on Thursday, April 30th. The insurance provider reported $2.47 EPS for the quarter, missing the consensus estimate of $2.54 by ($0.07). American Financial Group had a return on equity of 19.50% and a net margin of 10.76%.The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the previous year, the firm posted $1.81 earnings per share. The firm’s quarterly revenue was down .1% compared to the same quarter last year. Sell-side analysts expect that American Financial Group, Inc. will post 11.37 EPS for the current year.

American Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Wednesday, July 15th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, July 15th. American Financial Group’s payout ratio is currently 33.46%.

Insider Buying and Selling

In other news, insider David Lawrence Thompson, Jr. sold 11,370 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $135.05, for a total transaction of $1,535,518.50. Following the completion of the sale, the insider owned 584,098 shares of the company’s stock, valued at $78,882,434.90. This trade represents a 1.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michelle A. Gillis sold 2,247 shares of American Financial Group stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $139.00, for a total transaction of $312,333.00. Following the completion of the sale, the senior vice president directly owned 13,135 shares of the company’s stock, valued at approximately $1,825,765. This trade represents a 14.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 16.90% of the stock is owned by insiders.

Analyst Ratings Changes

AFG has been the subject of several research reports. Piper Sandler increased their target price on American Financial Group from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American Financial Group in a research note on Thursday, June 11th. Wells Fargo & Company raised their price objective on shares of American Financial Group from $158.00 to $173.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of American Financial Group from $140.00 to $148.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $150.75.

American Financial Group Profile

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.