Commonwealth Equity Services LLC Lowers Position in American Financial Group, Inc. (NYSE:AFG)

Commonwealth Equity Services LLC lowered its holdings in American Financial Group, Inc. (NYSE:AFG) by 7.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,665 shares of the insurance provider’s stock after selling 828 shares during the period. Commonwealth Equity Services LLC’s holdings in American Financial Group were worth $1,312,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Daiwa Securities Group Inc. raised its holdings in shares of American Financial Group by 2.2% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,674 shares of the insurance provider’s stock valued at $638,000 after buying an additional 100 shares in the last quarter. Diversified Trust Co raised its holdings in shares of American Financial Group by 5.0% during the 2nd quarter. Diversified Trust Co now owns 2,105 shares of the insurance provider’s stock valued at $259,000 after buying an additional 100 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of American Financial Group by 44.3% during the 2nd quarter. Blue Trust Inc. now owns 433 shares of the insurance provider’s stock valued at $59,000 after buying an additional 133 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of American Financial Group by 2.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 6,882 shares of the insurance provider’s stock valued at $937,000 after buying an additional 136 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in shares of American Financial Group by 3.7% during the 2nd quarter. QRG Capital Management Inc. now owns 3,939 shares of the insurance provider’s stock valued at $485,000 after buying an additional 141 shares in the last quarter. 64.37% of the stock is owned by hedge funds and other institutional investors.

American Financial Group Stock Up 0.8 %

Shares of NYSE:AFG opened at $134.27 on Monday. The stock has a fifty day simple moving average of $128.92 and a two-hundred day simple moving average of $128.88. The stock has a market capitalization of $11.26 billion, a price-to-earnings ratio of 12.85 and a beta of 0.78. American Financial Group, Inc. has a 12-month low of $105.22 and a 12-month high of $137.95. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.34.

American Financial Group (NYSE:AFG) last issued its quarterly earnings data on Tuesday, August 6th. The insurance provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.45 by $0.11. American Financial Group had a return on equity of 21.16% and a net margin of 11.06%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the company posted $2.38 earnings per share. American Financial Group’s revenue was up 3.3% compared to the same quarter last year. On average, research analysts anticipate that American Financial Group, Inc. will post 10.96 earnings per share for the current fiscal year.

American Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 15th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Monday, July 15th. American Financial Group’s dividend payout ratio is presently 27.18%.

Insider Buying and Selling at American Financial Group

In related news, Director Amy Y. Murray purchased 1,200 shares of the business’s stock in a transaction on Friday, June 28th. The stock was acquired at an average price of $125.17 per share, with a total value of $150,204.00. Following the completion of the acquisition, the director now owns 1,200 shares of the company’s stock, valued at approximately $150,204. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 14.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Citigroup lowered American Financial Group from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $144.00 to $137.00 in a research report on Friday, June 28th.

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.