Wellington Management Group LLP Cuts Stock Position in American Financial Group, Inc. (NYSE:AFG)

Wellington Management Group LLP cut its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 41.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,888 shares of the insurance provider’s stock after selling 3,435 shares during the period. Wellington Management Group LLP’s holdings in American Financial Group were worth $658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. lifted its holdings in American Financial Group by 4.0% in the third quarter. Oppenheimer & Co. Inc. now owns 2,165 shares of the insurance provider’s stock valued at $291,000 after acquiring an additional 83 shares during the period. Sei Investments Co. lifted its stake in shares of American Financial Group by 0.3% in the second quarter. Sei Investments Co. now owns 26,059 shares of the insurance provider’s stock valued at $3,206,000 after purchasing an additional 86 shares during the period. Verdence Capital Advisors LLC boosted its holdings in American Financial Group by 6.3% during the third quarter. Verdence Capital Advisors LLC now owns 2,100 shares of the insurance provider’s stock worth $283,000 after buying an additional 125 shares in the last quarter. Blue Trust Inc. grew its position in American Financial Group by 44.3% during the second quarter. Blue Trust Inc. now owns 433 shares of the insurance provider’s stock worth $59,000 after buying an additional 133 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in American Financial Group by 3.1% in the third quarter. CIBC Asset Management Inc now owns 4,691 shares of the insurance provider’s stock valued at $631,000 after buying an additional 141 shares in the last quarter. 64.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Piper Sandler upped their price target on American Financial Group from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. BMO Capital Markets upped their target price on American Financial Group from $135.00 to $143.00 and gave the company a “market perform” rating in a report on Friday, November 15th.

American Financial Group Trading Up 0.4 %

Shares of AFG stock opened at $136.98 on Friday. The company has a market capitalization of $11.50 billion, a price-to-earnings ratio of 12.84 and a beta of 0.82. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $138.17 and a 200 day moving average price of $132.47. American Financial Group, Inc. has a twelve month low of $115.64 and a twelve month high of $150.19.

American Financial Group (NYSE:AFG) last announced its earnings results on Tuesday, November 5th. The insurance provider reported $2.31 earnings per share (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 was up 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.45 EPS. Research analysts forecast that American Financial Group, Inc. will post 10.73 earnings per share for the current fiscal year.

American Financial Group Increases Dividend

The business also recently declared a None dividend, which was paid on Tuesday, November 26th. Shareholders of record on Friday, November 15th were issued a $4.00 dividend. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from American Financial Group’s previous None dividend of $1.00. American Financial Group’s dividend payout ratio (DPR) is 29.99%.

American Financial Group Company 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.