Alliancebernstein L.P. Cuts Stock Holdings in American Financial Group, Inc. $AFG

Alliancebernstein L.P. lowered its position in shares of American Financial Group, Inc. (NYSE:AFG) by 1.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 998,812 shares of the insurance provider’s stock after selling 19,778 shares during the quarter. Alliancebernstein L.P. owned approximately 1.20% of American Financial Group worth $145,547,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. ProShare Advisors LLC lifted its holdings in American Financial Group by 8.0% in the 3rd quarter. ProShare Advisors LLC now owns 278,279 shares of the insurance provider’s stock valued at $40,551,000 after purchasing an additional 20,554 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in American Financial Group by 9.7% during the 3rd quarter. Allianz Asset Management GmbH now owns 335,673 shares of the insurance provider’s stock worth $48,914,000 after purchasing an additional 29,593 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of American Financial Group during the second quarter worth $1,790,000. Brandywine Global Investment Management LLC grew its holdings in shares of American Financial Group by 33.6% during the second quarter. Brandywine Global Investment Management LLC now owns 94,788 shares of the insurance provider’s stock worth $11,963,000 after buying an additional 23,838 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of American Financial Group by 10.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,127,518 shares of the insurance provider’s stock valued at $164,293,000 after buying an additional 110,872 shares during the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AFG. Weiss Ratings downgraded shares of American Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Wells Fargo & Company cut 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 report on Thursday, February 5th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $141.25.

American Financial Group Stock Up 0.1%

Shares of NYSE:AFG opened at $128.22 on Tuesday. American Financial Group, Inc. has a 52-week low of $114.73 and a 52-week high of $150.02. The stock has a market cap of $10.68 billion, a P/E ratio of 12.73 and a beta of 0.69. The business has a fifty day moving average of $130.30 and a two-hundred day moving average of $135.24. 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 (NYSE:AFG) last posted its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $3.65 EPS for the quarter, topping the consensus estimate of $3.18 by $0.47. The business had revenue of $2.06 billion for 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 quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.12 EPS. On average, research analysts expect that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Dividend Announcement

The company also recently announced 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 of this dividend was Friday, February 13th. American Financial Group’s payout ratio is 34.96%.

Insiders Place Their Bets

In other American Financial Group news, CFO Brian S. Hertzman sold 1,663 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $133.70, for a total value of $222,343.10. Following the transaction, the chief financial officer directly owned 12,073 shares in the company, valued at $1,614,160.10. The trade was a 12.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 17.40% of the stock is owned by insiders.

American Financial Group Company 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.