Commerce Bank Sells 2,100 Shares of American Financial Group, Inc. (NYSE:AFG)

Commerce Bank reduced its position in American Financial Group, Inc. (NYSE:AFG) by 23.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,921 shares of the insurance provider’s stock after selling 2,100 shares during the period. Commerce Bank’s holdings in American Financial Group were worth $932,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AFG. O Shaughnessy Asset Management LLC raised its stake in shares of American Financial Group by 21.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,013 shares of the insurance provider’s stock worth $548,000 after buying an additional 707 shares during the period. UniSuper Management Pty Ltd boosted its stake in shares of American Financial Group by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 1,000 shares of the insurance provider’s stock valued at $136,000 after purchasing an additional 500 shares during the period. Tidal Investments LLC grew its stake in American Financial Group by 23.4% in the 1st quarter. Tidal Investments LLC now owns 2,742 shares of the insurance provider’s stock worth $374,000 after acquiring an additional 520 shares in the last quarter. Swedbank AB bought a new position in American Financial Group in the first quarter worth approximately $133,000. Finally, Burney Co. increased its stake in shares of American Financial Group by 6.4% during the first quarter. Burney Co. now owns 24,195 shares of the insurance provider’s stock valued at $3,302,000 after buying an additional 1,454 shares during the period. 64.37% of the stock is owned by institutional investors.

American Financial Group Price Performance

AFG stock opened at $146.47 on Monday. American Financial Group, Inc. has a 1 year low of $110.53 and a 1 year high of $147.01. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.53 and a quick ratio of 0.53. The business has a 50 day simple moving average of $135.68 and a 200-day simple moving average of $130.82. The firm has a market capitalization of $12.29 billion, a PE ratio of 13.73 and a beta of 0.79.

American Financial Group (NYSE:AFG) last released its quarterly earnings results on Tuesday, November 5th. The insurance provider reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.80 billion. American Financial Group had a return on equity of 19.97% and a net margin of 10.84%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the company earned $2.45 earnings per share. Equities research analysts anticipate that American Financial Group, Inc. will post 10.73 earnings per share for the current fiscal year.

American Financial Group Increases Dividend

The company also recently disclosed a None dividend, which will be paid on Tuesday, November 26th. Investors of record on Friday, November 15th will be given a $4.00 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from American Financial Group’s previous None dividend of $1.00. American Financial Group’s dividend payout ratio (DPR) is presently 29.99%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AFG shares. BMO Capital Markets boosted their price objective on shares of American Financial Group from $135.00 to $143.00 and gave the stock a “market perform” rating in a research note on Friday, November 15th. Piper Sandler increased their price objective on shares of American Financial Group from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th.

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.