Sterling Capital Management LLC Has $283,000 Position in American Financial Group, Inc. $AFG

Sterling Capital Management LLC cut its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 79.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,218 shares of the insurance provider’s stock after selling 8,745 shares during the period. Sterling Capital Management LLC’s holdings in American Financial Group were worth $283,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in shares of American Financial Group by 11.1% during the 1st quarter. Royal Bank of Canada now owns 75,421 shares of the insurance provider’s stock valued at $9,905,000 after acquiring an additional 7,554 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of American Financial Group during the first quarter worth $2,330,000. Jones Financial Companies Lllp boosted its position in American Financial Group by 145.8% during the first quarter. Jones Financial Companies Lllp now owns 1,278 shares of the insurance provider’s stock valued at $168,000 after purchasing an additional 758 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in American Financial Group by 144.8% during the second quarter. EverSource Wealth Advisors LLC now owns 793 shares of the insurance provider’s stock valued at $100,000 after purchasing an additional 469 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in American Financial Group by 62.4% in the second quarter. Cerity Partners LLC now owns 2,941 shares of the insurance provider’s stock valued at $371,000 after purchasing an additional 1,130 shares in the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.

Insider Activity

In related news, insider David Lawrence Thompson, Jr. sold 11,370 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 584,098 shares in the company, valued at $78,882,434.90. This represents a 1.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michelle A. Gillis sold 2,247 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $139.00, for a total value of $312,333.00. Following the completion of the sale, the senior vice president directly owned 13,135 shares in the company, valued at $1,825,765. This trade represents a 14.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 16.90% of the company’s stock.

American Financial Group Price Performance

Shares of American Financial Group stock opened at $143.00 on Friday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.39. The firm has a fifty day simple moving average of $133.95 and a 200-day simple moving average of $132.12. The stock has a market capitalization of $11.88 billion, a price-to-earnings ratio of 13.59 and a beta of 0.62. American Financial Group, Inc. has a 1-year low of $122.11 and a 1-year high of $150.02.

American Financial Group (NYSE:AFG) last posted its earnings results on Thursday, April 30th. The insurance provider reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.07). The firm had revenue of $1.85 billion during 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%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.81 earnings per share. On average, sell-side analysts expect that American Financial Group, Inc. will post 11.37 earnings per share for the current year.

American Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Wednesday, July 15th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, July 15th. American Financial Group’s dividend payout ratio (DPR) is currently 33.46%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods upped their target price on American Financial Group from $134.00 to $140.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 25th. Wells Fargo & Company boosted their price target on American Financial Group from $155.00 to $158.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings restated a “buy (b-)” rating on shares of American Financial Group in a report on Thursday, June 11th. Finally, Piper Sandler raised their price objective on shares of American Financial Group from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, American Financial Group currently has a consensus rating of “Hold” and an average price target of $145.00.

American Financial Group Company 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.