Bank of New York Mellon Corp Cuts Stock Position in American Financial Group, Inc. $AFG

Bank of New York Mellon Corp lessened its holdings in American Financial Group, Inc. (NYSE:AFG) by 6.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 819,034 shares of the insurance provider’s stock after selling 52,223 shares during the quarter. Bank of New York Mellon Corp’s holdings in American Financial Group were worth $111,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Global Retirement Partners LLC raised its stake in shares of American Financial Group by 904.8% during the 4th quarter. Global Retirement Partners LLC now owns 211 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 190 shares during the period. Clearstead Advisors LLC boosted its holdings in shares of American Financial Group by 87.7% in the 4th quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider’s stock worth $35,000 after buying an additional 121 shares during the last quarter. Smartleaf Asset Management LLC grew its position in American Financial Group by 165.0% during the third quarter. Smartleaf Asset Management LLC now owns 273 shares of the insurance provider’s stock valued at $39,000 after buying an additional 170 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in American Financial Group during the third quarter worth about $44,000. Finally, Bessemer Group Inc. increased its holdings in American Financial Group by 332.9% during the third quarter. Bessemer Group Inc. now owns 368 shares of the insurance provider’s stock worth $54,000 after buying an additional 283 shares during the last quarter. 64.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of American Financial Group from $134.00 to $140.00 and gave the company a “market perform” rating in a research note on Wednesday, March 25th. Wells Fargo & Company raised their price target on shares of American Financial Group from $155.00 to $158.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Piper Sandler lifted their price target on shares of American Financial Group from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. Finally, Weiss Ratings upgraded American Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 16th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $145.00.

American Financial Group Stock Performance

NYSE AFG opened at $132.33 on Monday. The company’s 50 day moving average is $131.50 and its 200-day moving average is $132.02. American Financial Group, Inc. has a 12-month low of $121.75 and a 12-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 cap of $11.00 billion, a P/E ratio of 12.58 and a beta of 0.64.

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

American Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Wednesday, April 15th were given a $0.88 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $3.52 annualized dividend and a dividend yield of 2.7%. American Financial Group’s payout ratio is 33.46%.

American Financial Group 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.