Point72 Asset Management L.P. Sells 135,701 Shares of American Financial Group, Inc. (NYSE:AFG)

Point72 Asset Management L.P. trimmed its stake in American Financial Group, Inc. (NYSE:AFG) by 56.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 105,223 shares of the insurance provider’s stock after selling 135,701 shares during the period. Point72 Asset Management L.P.’s holdings in American Financial Group were worth $12,945,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its position in American Financial Group by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 836,619 shares of the insurance provider’s stock worth $102,921,000 after buying an additional 7,797 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings 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 acquiring an additional 18,945 shares during the last quarter. Johnson Investment Counsel Inc. boosted its stake in shares of American Financial Group by 0.4% during 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. Bahl & Gaynor Inc. grew its holdings in American Financial Group by 8.6% during the 2nd 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 during the last quarter. Finally, Boston Trust Walden Corp raised its position in American Financial Group by 2.8% in the 2nd quarter. Boston Trust Walden Corp now owns 431,218 shares of the insurance provider’s stock worth $53,048,000 after purchasing an additional 11,897 shares during the period. Hedge funds and other institutional investors own 64.37% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Citigroup lowered American Financial Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $144.00 to $137.00 in a research report on Friday, June 28th.

American Financial Group Trading Down 0.4 %

Shares of AFG opened at $134.60 on Tuesday. The firm has a market capitalization of $11.29 billion, a price-to-earnings ratio of 12.88 and a beta of 0.78. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.46 and a quick ratio of 0.46. American Financial Group, Inc. has a 1-year low of $105.22 and a 1-year high of $137.95. The company has a 50-day moving average of $130.93 and a 200 day moving average of $129.41.

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

About American Financial Group

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.