Franklin Resources Inc. Has $3.29 Million Stock Holdings in American Financial Group, Inc. $AFG

Franklin Resources Inc. decreased its holdings in American Financial Group, Inc. (NYSE:AFG) by 33.4% during the second quarter, Holdings Channel.com reports. The firm owned 26,067 shares of the insurance provider’s stock after selling 13,051 shares during the period. Franklin Resources Inc.’s holdings in American Financial Group were worth $3,290,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its holdings in shares of American Financial Group by 153.1% during the 1st quarter. Cetera Investment Advisers now owns 11,925 shares of the insurance provider’s stock valued at $1,566,000 after buying an additional 7,214 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of American Financial Group by 116.5% during the 1st quarter. LPL Financial LLC now owns 14,821 shares of the insurance provider’s stock worth $1,947,000 after buying an additional 7,975 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of American Financial Group in the first quarter valued at about $544,000. PNC Financial Services Group Inc. increased its position in American Financial Group by 50.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,518 shares of the insurance provider’s stock worth $725,000 after buying an additional 1,858 shares during the period. Finally, Costello Asset Management INC acquired a new position in American Financial Group during the 1st quarter valued at $68,000. Institutional investors and hedge funds own 64.37% of the company’s stock.

American Financial Group Price Performance

NYSE:AFG opened at $133.22 on Wednesday. The company has a market cap of $11.11 billion, a P/E ratio of 13.99 and a beta of 0.69. The firm’s fifty day moving average price is $138.41 and its two-hundred day moving average price is $132.33. American Financial Group, Inc. has a one year low of $114.73 and a one year high of $150.02. 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 released its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.34. American Financial Group had a net margin of 9.66% and a return on equity of 18.05%. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the prior year, the firm earned $2.31 EPS. The business’s revenue was up 13.4% on a year-over-year basis. Equities 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 declared a special dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 17th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, November 17th. American Financial Group’s dividend payout ratio (DPR) is presently 36.97%.

Insider Transactions at American Financial Group

In other news, CFO Brian S. Hertzman sold 1,777 shares of American Financial Group stock in a transaction on Friday, November 7th. The stock was sold at an average price of $142.51, for a total transaction of $253,240.27. Following the completion of the sale, the chief financial officer owned 11,300 shares of the company’s stock, valued at approximately $1,610,363. This trade represents a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods lowered their price target on shares of American Financial Group from $127.00 to $124.00 and set a “market perform” rating on the stock in a report on Tuesday, August 12th. Jefferies Financial Group reiterated a “hold” rating and issued a $142.00 price target on shares of American Financial Group in a report on Tuesday, November 11th. Wall Street Zen upgraded American Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of American Financial Group in a report on Monday. Finally, Piper Sandler lifted their target price on American Financial Group from $130.00 to $139.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $135.00.

American Financial Group Company Profile

American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. The company offers property and transportation insurance products, such as physical damage and liability coverage for buses and trucks, inland and ocean marine, agricultural-related products, and other commercial property and specialty transportation coverages; specialty casualty insurance, including primarily excess and surplus, executive and professional liability, general 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, fidelity and surety products, and trade credit insurance.