QRG Capital Management Inc. Has $336,000 Stake in American Financial Group, Inc. $AFG

QRG Capital Management Inc. lowered its holdings in American Financial Group, Inc. (NYSE:AFG) by 58.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,630 shares of the insurance provider’s stock after selling 3,707 shares during the period. QRG Capital Management Inc.’s holdings in American Financial Group were worth $336,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of American Financial Group during the 4th quarter worth about $114,661,000. M&T Bank Corp increased its position in shares of American Financial Group by 20,131.5% in the fourth quarter. M&T Bank Corp now owns 637,090 shares of the insurance provider’s stock valued at $87,077,000 after acquiring an additional 633,941 shares during the last quarter. Vestor Capital LLC raised its holdings in American Financial Group by 100,006.8% during the fourth quarter. Vestor Capital LLC now owns 600,641 shares of the insurance provider’s stock worth $82,096,000 after acquiring an additional 600,041 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in American Financial Group during the fourth quarter worth about $43,832,000. Finally, Northern Trust Corp boosted its position in American Financial Group by 33.2% during the third quarter. Northern Trust Corp now owns 1,026,783 shares of the insurance provider’s stock valued at $149,623,000 after purchasing an additional 255,693 shares during the last quarter. 64.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at American Financial Group

In other American Financial Group news, SVP Michelle A. Gillis sold 2,247 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $139.00, for a total transaction of $312,333.00. Following the completion of the sale, the senior vice president owned 13,135 shares of the company’s stock, valued at $1,825,765. This trade represents a 14.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of American Financial Group stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $135.05, for a total transaction of $1,535,518.50. Following the transaction, the insider directly owned 584,098 shares of the company’s stock, valued at approximately $78,882,434.90. This trade represents a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 16.90% of the company’s stock.

Analyst Upgrades and Downgrades

AFG has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price target on American Financial Group from $158.00 to $173.00 and gave the stock an “overweight” rating in a research report on Thursday. Piper Sandler upped 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. Weiss Ratings reissued a “buy (b-)” rating on shares of American Financial Group in a report on Thursday, June 11th. Finally, Keefe, Bruyette & Woods raised their target price on shares of American Financial Group from $140.00 to $148.00 and gave the company a “market perform” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, American Financial Group has a consensus rating of “Hold” and a consensus target price of $150.75.

American Financial Group Stock Performance

American Financial Group stock traded down $1.07 during midday trading on Friday, reaching $141.22. 462,859 shares of the company’s stock were exchanged, compared to its average volume of 555,165. The stock’s 50-day simple moving average is $135.07 and its 200 day simple moving average is $132.27. The firm has a market cap of $11.73 billion, a price-to-earnings ratio of 13.42 and a beta of 0.62. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.48 and a current ratio of 0.48. American Financial Group, Inc. has a 52 week low of $122.11 and a 52 week high of $150.02.

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

American Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Wednesday, July 15th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, July 15th. American Financial Group’s dividend 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.