Insider Selling: American Financial Group (NYSE:AFG) Insider Sells 11,370 Shares of Stock

American Financial Group, Inc. (NYSE:AFG) insider David Lawrence Thompson, Jr. sold 11,370 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $135.05, for a total transaction of $1,535,518.50. Following the transaction, the insider directly owned 584,098 shares of the company’s stock, valued at approximately $78,882,434.90. This trade represents a 1.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

American Financial Group Stock Performance

Shares of American Financial Group stock traded up $1.23 during trading on Wednesday, hitting $138.31. 383,564 shares of the stock were exchanged, compared to its average volume of 585,565. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.48 and a current ratio of 0.48. American Financial Group, Inc. has a 12 month low of $122.11 and a 12 month high of $150.02. The stock’s fifty day moving average is $132.48 and its 200 day moving average is $131.76. The stock has a market cap of $11.49 billion, a PE ratio of 13.15 and a beta of 0.64.

American Financial Group (NYSE:AFG) last issued its quarterly earnings data on Thursday, April 30th. The insurance provider reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.54 by ($0.07). The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.70 billion. American Financial Group had a net margin of 10.76% and a return on equity of 19.50%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.81 earnings per share. As a group, sell-side analysts anticipate that American Financial Group, Inc. will post 11.37 EPS for the current year.

American Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Wednesday, April 15th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Wednesday, April 15th. American Financial Group’s payout ratio is 33.46%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On American Financial Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AFG. Norges Bank bought a new position in American Financial Group during the 4th quarter valued at $114,661,000. M&T Bank Corp lifted its holdings in shares of American Financial Group by 20,131.5% in the fourth quarter. M&T Bank Corp now owns 637,090 shares of the insurance provider’s stock valued at $87,077,000 after buying an additional 633,941 shares during the period. Vestor Capital LLC raised its position in American Financial Group by 100,006.8% in the fourth quarter. Vestor Capital LLC now owns 600,641 shares of the insurance provider’s stock worth $82,096,000 after acquiring an additional 600,041 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in American Financial Group by 12.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,963,942 shares of the insurance provider’s stock valued at $431,906,000 after acquiring an additional 337,573 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of American Financial Group by 337.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 431,144 shares of the insurance provider’s stock worth $55,061,000 after purchasing an additional 332,517 shares during the last quarter. Institutional investors own 64.37% of the company’s stock.

About American Financial Group

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.