DnB Asset Management AS Sells 264 Shares of American Financial Group, Inc. (NYSE:AFG)

DnB Asset Management AS reduced its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,244 shares of the insurance provider’s stock after selling 264 shares during the quarter. DnB Asset Management AS’s holdings in American Financial Group were worth $2,087,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. UMB Bank n.a. raised its position in shares of American Financial Group by 86.8% during the fourth quarter. UMB Bank n.a. now owns 340 shares of the insurance provider’s stock valued at $47,000 after buying an additional 158 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in American Financial Group by 91.2% in the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the insurance provider’s stock valued at $71,000 after acquiring an additional 248 shares in the last quarter. Allworth Financial LP lifted its position in shares of American Financial Group by 301.1% in the 4th quarter. Allworth Financial LP now owns 702 shares of the insurance provider’s stock worth $94,000 after acquiring an additional 527 shares during the period. iA Global Asset Management Inc. acquired a new stake in shares of American Financial Group during the 3rd quarter worth approximately $125,000. Finally, GAMMA Investing LLC grew its holdings in shares of American Financial Group by 31.6% during the 4th quarter. GAMMA Investing LLC now owns 1,059 shares of the insurance provider’s stock worth $145,000 after purchasing an additional 254 shares in the last quarter. 64.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lowered American Financial Group from an “outperform” rating to a “market perform” rating and cut their target price for the company from $164.00 to $144.00 in a research note on Friday, February 7th.

American Financial Group Stock Performance

NYSE AFG opened at $132.19 on Wednesday. American Financial Group, Inc. has a twelve month low of $118.97 and a twelve month high of $150.19. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.31. The stock has a market cap of $11.10 billion, a P/E ratio of 12.51 and a beta of 0.79. The company’s 50-day simple moving average is $127.93 and its 200 day simple moving average is $133.77.

American Financial Group (NYSE:AFG) last released its quarterly earnings data on Tuesday, February 4th. The insurance provider reported $3.12 earnings per share for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.03). American Financial Group had a net margin of 10.66% and a return on equity of 20.30%. As a group, research analysts forecast that American Financial Group, Inc. will post 10.5 earnings per share for the current fiscal year.

American Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.42%. American Financial Group’s dividend payout ratio is currently 30.27%.

Insider Activity

In other news, Director Gregory G. Joseph bought 3,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was acquired at an average price of $121.00 per share, for a total transaction of $363,000.00. Following the transaction, the director now directly owns 57,477 shares of the company’s stock, valued at $6,954,717. This trade represents a 5.51 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 14.50% of the stock is owned by corporate insiders.

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.