Sumitomo Mitsui Trust Holdings Inc. Lowers Stock Position in American Financial Group, Inc. (NYSE:AFG)


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Sumitomo Mitsui Trust Holdings Inc. lessened its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 17.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 241,789 shares of the insurance provider’s stock after selling 52,564 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.28% of American Financial Group worth $21,186,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AFG. ExodusPoint Capital Management LP boosted its stake in American Financial Group by 659.2% during the third quarter. ExodusPoint Capital Management LP now owns 226,074 shares of the insurance provider’s stock worth $15,142,000 after buying an additional 196,298 shares during the period. Amundi Pioneer Asset Management Inc. lifted its position in shares of American Financial Group by 208.1% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 207,616 shares of the insurance provider’s stock worth $19,975,000 after purchasing an additional 140,236 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of American Financial Group by 308.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 134,807 shares of the insurance provider’s stock worth $9,029,000 after purchasing an additional 101,778 shares in the last quarter. Lomas Capital Management LLC lifted its position in shares of American Financial Group by 19.1% during the third quarter. Lomas Capital Management LLC now owns 631,821 shares of the insurance provider’s stock worth $42,320,000 after purchasing an additional 101,162 shares in the last quarter. Finally, Jarislowsky Fraser Ltd lifted its position in shares of American Financial Group by 17.3% during the third quarter. Jarislowsky Fraser Ltd now owns 519,826 shares of the insurance provider’s stock worth $34,817,000 after purchasing an additional 76,832 shares in the last quarter. 64.22% of the stock is owned by institutional investors.

Several brokerages have recently issued reports on AFG. Credit Suisse Group increased their price target on shares of American Financial Group from $95.75 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, January 28th. Piper Sandler increased their price target on shares of American Financial Group from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday. They noted that the move was a valuation call. TheStreet raised shares of American Financial Group from a “c+” rating to a “b” rating in a report on Friday, February 5th. Finally, Zacks Investment Research raised shares of American Financial Group from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a report on Tuesday, December 15th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $98.20.

In related news, VP Vito C. Peraino purchased 2,500 shares of the company’s stock in a transaction on Friday, February 5th. The shares were bought at an average cost of $96.39 per share, for a total transaction of $240,975.00. Following the completion of the purchase, the vice president now directly owns 77,889 shares of the company’s stock, valued at approximately $7,507,720.71. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 12.10% of the company’s stock.

Shares of NYSE:AFG opened at $110.44 on Tuesday. The firm’s 50 day moving average price is $94.94 and its 200 day moving average price is $81.22. The stock has a market cap of $9.59 billion, a price-to-earnings ratio of 39.44 and a beta of 0.92. American Financial Group, Inc. has a fifty-two week low of $44.01 and a fifty-two week high of $111.08. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.33.

American Financial Group (NYSE:AFG) last issued its earnings results on Tuesday, February 2nd. The insurance provider reported $3.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.13 by $0.96. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $1.39 billion. American Financial Group had a net margin of 3.38% and a return on equity of 11.80%. The firm’s revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.22 earnings per share. On average, equities analysts anticipate that American Financial Group, Inc. will post 7.2 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, January 25th. Shareholders of record on Friday, January 15th were paid a $0.50 dividend. The ex-dividend date was Thursday, January 14th. This represents a $2.00 annualized dividend and a yield of 1.81%. American Financial Group’s dividend payout ratio is currently 23.20%.

American Financial Group Company Profile

American Financial Group, Inc, an insurance holding company, provides property and casualty insurance products in the United States. The company operates through three segments: Property and Casualty Insurance, Annuity, and Other. It offers property and transportation insurance products, such as physical damage and liability coverage for buses, trucks, inland and ocean marine, agricultural-related products, and other commercial property coverages; specialty casualty insurance, including primarily excess and surplus, general liability, executive and professional liability, umbrella and excess liability, and specialty coverage in targeted markets, as well as customized programs for small to mid-sized businesses and workers' compensation insurance; and specialty financial insurance products comprising risk management insurance programs for lending and leasing institutions, surety and fidelity products, and trade credit insurance.

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Institutional Ownership by Quarter for American Financial Group (NYSE:AFG)

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