Bahl & Gaynor Inc. Sells 40,122 Shares of American Financial Group, Inc. $AFG

Bahl & Gaynor Inc. cut its position in shares of American Financial Group, Inc. (NYSE:AFG) by 7.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 479,226 shares of the insurance provider’s stock after selling 40,122 shares during the period. Bahl & Gaynor Inc. owned about 0.57% of American Financial Group worth $69,833,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its stake in American Financial Group by 3.2% in the second quarter. Advisors Asset Management Inc. now owns 2,640 shares of the insurance provider’s stock worth $333,000 after buying an additional 83 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of American Financial Group by 11.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 884 shares of the insurance provider’s stock worth $129,000 after acquiring an additional 91 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of American Financial Group by 12.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 863 shares of the insurance provider’s stock worth $125,000 after purchasing an additional 93 shares during the last quarter. Intrust Bank NA lifted its stake in shares of American Financial Group by 3.6% during the 3rd quarter. Intrust Bank NA now owns 2,935 shares of the insurance provider’s stock worth $428,000 after purchasing an additional 102 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in American Financial Group by 1.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,405 shares of the insurance provider’s stock valued at $1,087,000 after purchasing an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Weiss Ratings downgraded shares of American Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $142.00 price objective on shares of American Financial Group in a research report on Tuesday, November 11th. Wells Fargo & Company reduced their price objective 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. Finally, Piper Sandler raised their target price 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. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $141.25.

American Financial Group Stock Down 0.2%

AFG stock opened at $133.04 on Monday. The firm has a 50 day moving average of $131.86 and a 200 day moving average of $135.51. The stock has a market capitalization of $11.10 billion, a PE ratio of 13.21 and a beta of 0.69. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.38. American Financial Group, Inc. has a 52 week low of $114.73 and a 52 week high of $150.02.

American Financial Group (NYSE:AFG) last issued its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $3.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.47. American Financial Group had a net margin of 10.30% and a return on equity of 18.64%. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the business posted $3.12 EPS. American Financial Group’s revenue for the quarter was down 4.0% compared to the same quarter last year. Sell-side analysts forecast that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Announces Dividend

The company also recently declared a special dividend, which was paid on Wednesday, February 25th. Shareholders of record on Monday, February 16th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Friday, February 13th. American Financial Group’s payout ratio 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.