Reinhart Partners LLC. Cuts Stake in American Financial Group, Inc. $AFG

Reinhart Partners LLC. lessened its position in American Financial Group, Inc. (NYSE:AFG) by 28.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 29,043 shares of the insurance provider’s stock after selling 11,430 shares during the period. Reinhart Partners LLC.’s holdings in American Financial Group were worth $4,064,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new position in American Financial Group during the second quarter worth about $29,144,000. GAMMA Investing LLC increased its position in American Financial Group by 7.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,603 shares of the insurance provider’s stock worth $364,000 after purchasing an additional 180 shares during the period. Bank of America Corp DE increased its position in American Financial Group by 24.0% during the 1st quarter. Bank of America Corp DE now owns 294,396 shares of the insurance provider’s stock worth $37,597,000 after purchasing an additional 57,023 shares during the period. Janus Henderson Group PLC raised its stake in shares of American Financial Group by 487.7% during the 1st quarter. Janus Henderson Group PLC now owns 30,500 shares of the insurance provider’s stock worth $3,894,000 after buying an additional 25,310 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of American Financial Group by 5.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 151,888 shares of the insurance provider’s stock worth $19,398,000 after buying an additional 8,220 shares in the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.

American Financial Group Trading Down 0.7%

Shares of American Financial Group stock opened at $145.66 on Friday. The company has a 50-day moving average of $138.53 and a two-hundred day moving average of $133.33. American Financial Group, Inc. has a 12-month low of $123.09 and a 12-month high of $150.02. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.39. The stock has a market cap of $12.10 billion, a PE ratio of 12.73 and a beta of 0.62.

American Financial Group (NYSE:AFG) last announced its quarterly earnings results on Tuesday, August 4th. The insurance provider reported $2.82 EPS for the quarter, topping the consensus estimate of $2.32 by $0.50. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.85 billion. American Financial Group had a return on equity of 20.43% and a net margin of 11.51%.The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.14 EPS. On average, research analysts anticipate that American Financial Group, Inc. will post 11.37 EPS for the current fiscal year.

American Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Wednesday, July 15th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Wednesday, July 15th. American Financial Group’s payout ratio is presently 30.77%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AFG. Weiss Ratings restated a “buy (b-)” rating on shares of American Financial Group in a research note on Thursday, June 11th. Wells Fargo & Company increased their price objective on American Financial Group from $158.00 to $173.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Piper Sandler raised their target price on American Financial Group from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of American Financial Group from $140.00 to $148.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $150.75.

Insider Buying and Selling at American Financial Group

In other American Financial Group news, SVP Michelle A. Gillis sold 2,247 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $139.00, for a total value of $312,333.00. Following the sale, the senior vice president owned 13,135 shares of the company’s stock, valued at approximately $1,825,765. This represents a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark A. Weiss sold 2,813 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $144.76, for a total value of $407,209.88. Following the completion of the transaction, the vice president owned 6,648 shares of the company’s stock, valued at approximately $962,364.48. This represents a 29.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 16,430 shares of company stock valued at $2,255,061. Insiders own 16.90% of the company’s stock.

American Financial Group Profile

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.