Envestnet Asset Management Inc. Has $5.11 Million Stock Position in American Financial Group, Inc. $AFG

Envestnet Asset Management Inc. reduced its holdings in American Financial Group, Inc. (NYSE:AFG) by 14.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,048 shares of the insurance provider’s stock after selling 5,797 shares during the period. Envestnet Asset Management Inc.’s holdings in American Financial Group were worth $5,107,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AFG. Hantz Financial Services Inc. lifted its position in shares of American Financial Group by 421.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 198 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 160 shares during the period. Alpine Bank Wealth Management acquired a new position in American Financial Group in the third quarter valued at about $30,000. Atlantic Union Bankshares Corp bought a new stake in shares of American Financial Group during the second quarter worth $27,000. Root Financial Partners LLC bought a new position in shares of American Financial Group in the third quarter worth about $34,000. Finally, Quent Capital LLC bought a new position in American Financial Group in the 3rd quarter worth approximately $46,000. Institutional investors own 64.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AFG. Weiss Ratings lowered shares of American Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Piper Sandler increased their price target on American Financial Group from $130.00 to $139.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Jefferies Financial Group restated a “hold” rating and set a $142.00 price objective on shares of American Financial Group in a report on Tuesday, November 11th. Finally, Wells Fargo & Company dropped their target price on American Financial Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $141.25.

American Financial Group Price Performance

NYSE:AFG opened at $130.14 on Monday. American Financial Group, Inc. has a one year low of $114.73 and a one year high of $150.02. The company has a market cap of $10.85 billion, a P/E ratio of 12.92 and a beta of 0.71. The firm’s fifty day moving average price is $132.42 and its two-hundred day moving average price is $135.45. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.55 and a quick ratio of 0.55.

American Financial Group (NYSE:AFG) last issued its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $3.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.47. The firm had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $1.79 billion. American Financial Group had a net margin of 10.30% and a return on equity of 18.92%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period last year, the business posted $3.12 earnings per share. Equities analysts expect that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Announces Dividend

The firm also recently declared a special dividend, which will be paid on Wednesday, February 25th. Investors of record on Monday, February 16th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, February 13th. American Financial Group’s dividend payout ratio (DPR) is currently 34.96%.

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.