CIBC Asset Management Inc Sells 782 Shares of American Financial Group, Inc. (NYSE:AFG)

CIBC Asset Management Inc cut its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 16.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,909 shares of the insurance provider’s stock after selling 782 shares during the quarter. CIBC Asset Management Inc’s holdings in American Financial Group were worth $535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Crossmark Global Holdings Inc. lifted its position in American Financial Group by 1.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 5,798 shares of the insurance provider’s stock valued at $794,000 after purchasing an additional 81 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of American Financial Group by 4.0% during the third quarter. Oppenheimer & Co. Inc. now owns 2,165 shares of the insurance provider’s stock worth $291,000 after acquiring an additional 83 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of American Financial Group by 4.6% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,226 shares of the insurance provider’s stock worth $305,000 after acquiring an additional 97 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of American Financial Group by 0.8% during the fourth quarter. Van ECK Associates Corp now owns 12,040 shares of the insurance provider’s stock worth $1,649,000 after acquiring an additional 101 shares in the last quarter. Finally, Highland Capital Management LLC raised its stake in shares of American Financial Group by 6.5% during the fourth quarter. Highland Capital Management LLC now owns 1,746 shares of the insurance provider’s stock worth $239,000 after acquiring an additional 107 shares in the last quarter. 64.37% of the stock is currently owned by institutional investors.

American Financial Group Stock Down 0.8 %

Shares of NYSE AFG opened at $119.80 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.31. American Financial Group, Inc. has a 52 week low of $118.97 and a 52 week high of $150.19. The firm’s fifty day moving average is $132.83 and its 200 day moving average is $134.59. The company has a market cap of $10.05 billion, a price-to-earnings ratio of 11.33 and a beta of 0.83.

American Financial Group (NYSE:AFG) last issued its earnings results on Tuesday, February 4th. The insurance provider reported $3.12 EPS for the quarter, missing the consensus estimate of $3.15 by ($0.03). American Financial Group had a return on equity of 20.30% and a net margin of 10.66%. On average, equities research analysts expect that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Tuesday, January 14th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Tuesday, January 14th. American Financial Group’s payout ratio is currently 30.27%.

Wall Street Analyst Weigh In

AFG has been the topic of several research reports. Keefe, Bruyette & Woods downgraded shares of American Financial Group from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $164.00 to $144.00 in a research note on Friday, February 7th. Piper Sandler lifted their price target on shares of American Financial Group from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Finally, BMO Capital Markets lifted their price target on shares of American Financial Group from $135.00 to $143.00 and gave the stock a “market perform” rating in a research note on Friday, November 15th.

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.