ProShare Advisors LLC Sells 28,648 Shares of American Financial Group, Inc. $AFG

ProShare Advisors LLC trimmed its position in American Financial Group, Inc. (NYSE:AFG) by 10.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,631 shares of the insurance provider’s stock after selling 28,648 shares during the quarter. ProShare Advisors LLC’s holdings in American Financial Group were worth $34,120,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. M&T Bank Corp boosted its position 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 acquiring an additional 633,941 shares during the period. Victory Capital Management Inc. increased its position in American Financial Group by 12.9% during the third quarter. Victory Capital Management Inc. now owns 2,963,942 shares of the insurance provider’s stock worth $431,906,000 after acquiring an additional 337,573 shares during the period. Northern Trust Corp increased its position in American Financial Group by 33.2% during the third quarter. Northern Trust Corp now owns 1,026,783 shares of the insurance provider’s stock worth $149,623,000 after acquiring an additional 255,693 shares during the period. Woodline Partners LP raised its stake in American Financial Group by 58.4% in the 3rd quarter. Woodline Partners LP now owns 621,623 shares of the insurance provider’s stock worth $90,583,000 after purchasing an additional 229,140 shares in the last quarter. Finally, Man Group plc raised its stake in American Financial Group by 316.8% in the 3rd quarter. Man Group plc now owns 198,528 shares of the insurance provider’s stock worth $28,930,000 after purchasing an additional 150,902 shares in the last quarter. Institutional investors own 64.37% of the company’s stock.

Analyst Upgrades and Downgrades

AFG has been the topic of a number of analyst reports. Piper Sandler increased their target price on shares of American Financial Group from $129.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Wells Fargo & Company lifted their price target on shares of American Financial Group from $155.00 to $158.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded American Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 16th. Finally, Keefe, Bruyette & Woods increased their price target on American Financial Group from $134.00 to $140.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 25th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, American Financial Group presently has an average rating of “Hold” and a consensus price target of $143.75.

American Financial Group Stock Performance

Shares of NYSE:AFG opened at $136.84 on Thursday. American Financial Group, Inc. has a 1 year low of $120.52 and a 1 year high of $150.02. The stock has a market capitalization of $11.37 billion, a price-to-earnings ratio of 13.01 and a beta of 0.65. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.48 and a quick ratio of 0.48. The company’s 50 day simple moving average is $130.25 and its 200 day simple moving average is $132.55.

American Financial Group (NYSE:AFG) last released its earnings results 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 business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.70 billion. American Financial Group had a return on equity of 19.50% and a net margin of 10.76%.The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.81 earnings per share. As a group, research analysts predict that American Financial Group, Inc. will post 11.21 EPS for the current fiscal year.

American Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Wednesday, April 15th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Wednesday, April 15th. American Financial Group’s dividend payout ratio is currently 33.46%.

Insiders Place Their Bets

In related news, CFO Brian S. Hertzman sold 1,663 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $133.70, for a total value of $222,343.10. Following the sale, the chief financial officer directly owned 12,073 shares of the company’s stock, valued at $1,614,160.10. This trade represents a 12.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 16.90% of the stock is owned by company insiders.

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.