Fifth Third Bancorp Has $2.76 Million Stock Position in American Financial Group, Inc. $AFG

Fifth Third Bancorp grew its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 264.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,579 shares of the insurance provider’s stock after buying an additional 15,663 shares during the quarter. Fifth Third Bancorp’s holdings in American Financial Group were worth $2,756,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AFG. Charles Schwab Investment Management Inc. increased its holdings in American Financial Group by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,567,721 shares of the insurance provider’s stock worth $350,956,000 after purchasing an additional 57,246 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of American Financial Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 1,732,557 shares of the insurance provider’s stock worth $236,645,000 after purchasing an additional 29,731 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of American Financial Group by 12.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,266,001 shares of the insurance provider’s stock valued at $173,045,000 after buying an additional 138,483 shares during the period. Northern Trust Corp increased its stake in shares of American Financial Group by 33.2% in the third quarter. Northern Trust Corp now owns 1,026,783 shares of the insurance provider’s stock valued at $149,623,000 after buying an additional 255,693 shares during the period. Finally, Morgan Stanley raised its holdings in American Financial Group by 4.3% in the 4th quarter. Morgan Stanley now owns 894,998 shares of the insurance provider’s stock valued at $122,329,000 after buying an additional 36,971 shares during the last quarter. 64.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

American Financial Group Stock Performance

NYSE:AFG opened at $142.25 on Tuesday. American Financial Group, Inc. has a twelve month low of $122.11 and a twelve month high of $150.02. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $11.82 billion, a P/E ratio of 13.52 and a beta of 0.62. The company has a fifty day moving average of $136.15 and a 200-day moving average of $132.36.

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

American Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Wednesday, July 15th will be issued a $0.88 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $3.52 annualized dividend and a yield of 2.5%. American Financial Group’s dividend payout ratio is presently 33.46%.

Insider Buying and Selling

In other American Financial Group news, insider David Lawrence Thompson, Jr. sold 11,370 shares of the company’s stock in a transaction 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 transaction, the insider owned 584,098 shares in the company, valued at approximately $78,882,434.90. This represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Michelle A. Gillis sold 2,247 shares of American Financial Group stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $139.00, for a total transaction of $312,333.00. Following the transaction, the senior vice president owned 13,135 shares of the company’s stock, valued at $1,825,765. This represents a 14.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 16.90% of the stock is owned by corporate insiders.

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.