Zions Bancorporation N.A. Reduces Stock Holdings in American Financial Group, Inc. (NYSE:AFG)

Zions Bancorporation N.A. reduced its position in shares of American Financial Group, Inc. (NYSE:AFG) by 41.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,402 shares of the insurance provider’s stock after selling 1,683 shares during the quarter. Zions Bancorporation N.A.’s holdings in American Financial Group were worth $295,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in American Financial Group by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 836,619 shares of the insurance provider’s stock valued at $102,921,000 after buying an additional 7,797 shares during the last quarter. Norges Bank purchased a new stake in shares of American Financial Group in the 4th quarter worth $97,304,000. Goldman Sachs Group Inc. increased its stake in shares of American Financial Group by 3.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 648,878 shares of the insurance provider’s stock worth $77,145,000 after purchasing an additional 18,945 shares in the last quarter. Johnson Investment Counsel Inc. raised its holdings in American Financial Group by 0.4% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 576,174 shares of the insurance provider’s stock worth $70,881,000 after purchasing an additional 2,389 shares during the period. Finally, Bahl & Gaynor Inc. lifted its position in American Financial Group by 8.6% during the second quarter. Bahl & Gaynor Inc. now owns 492,021 shares of the insurance provider’s stock valued at $60,528,000 after purchasing an additional 38,937 shares in the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Citigroup downgraded American Financial Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $144.00 to $137.00 in a research note on Friday, June 28th.

American Financial Group Stock Up 0.8 %

AFG opened at $134.27 on Friday. The stock has a market cap of $11.27 billion, a price-to-earnings ratio of 12.85 and a beta of 0.78. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.46 and a current ratio of 0.46. The firm’s fifty day moving average is $128.92 and its 200 day moving average is $128.87. American Financial Group, Inc. has a fifty-two week low of $105.22 and a fifty-two week high of $137.95.

American Financial Group (NYSE:AFG) last announced its quarterly earnings data on Tuesday, August 6th. The insurance provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.45 by $0.11. American Financial Group had a return on equity of 21.16% and a net margin of 11.06%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the business earned $2.38 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts forecast that American Financial Group, Inc. will post 10.96 earnings per share for the current fiscal year.

American Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Monday, July 15th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Monday, July 15th. American Financial Group’s payout ratio is currently 27.18%.

Insider Transactions at American Financial Group

In related news, Director Amy Y. Murray bought 1,200 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average cost of $125.17 per share, with a total value of $150,204.00. Following the completion of the purchase, the director now owns 1,200 shares of the company’s stock, valued at approximately $150,204. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 14.50% of the company’s stock.

American Financial Group 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.