American Financial Group, Inc. (NYSE:AFG) Shares Sold by DnB Asset Management AS

Posted by Defense World Staff on Sep 20th, 2023

DnB Asset Management AS lowered its stake in shares of American Financial Group, Inc. (NYSE:AFG – Free Report) by 3.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,116 shares of the insurance provider’s stock after selling 386 shares during the period. DnB Asset Management AS’s holdings in American Financial Group were worth $1,439,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Machina Capital S.A.S. acquired a new position in American Financial Group during the first quarter worth $26,000. Dark Forest Capital Management LP acquired a new position in American Financial Group during the fourth quarter worth $29,000. Money Concepts Capital Corp acquired a new position in American Financial Group during the fourth quarter worth $35,000. Parallel Advisors LLC boosted its stake in American Financial Group by 372.1% during the first quarter. Parallel Advisors LLC now owns 321 shares of the insurance provider’s stock worth $39,000 after buying an additional 253 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. acquired a new position in American Financial Group during the fourth quarter worth $52,000. Institutional investors and hedge funds own 63.50% of the company’s stock.

American Financial Group Stock Performance

Shares of American Financial Group stock opened at $114.48 on Wednesday. American Financial Group, Inc. has a 52 week low of $108.58 and a 52 week high of $150.98. The business’s fifty day simple moving average is $115.56 and its 200-day simple moving average is $117.49. The firm has a market cap of $9.71 billion, a PE ratio of 11.45 and a beta of 0.83. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.37.

American Financial Group (NYSE:AFG – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The insurance provider reported $2.38 EPS for the quarter, missing the consensus estimate of $2.85 by ($0.47). The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.85 billion. American Financial Group had a net margin of 11.38% and a return on equity of 22.51%. During the same period last year, the company earned $2.85 EPS. Equities analysts forecast that American Financial Group, Inc. will post 10.64 earnings per share for the current year.

American Financial Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Friday, July 14th were issued a $0.63 dividend. The ex-dividend date was Thursday, July 13th. This represents a $2.52 annualized dividend and a dividend yield of 2.20%. American Financial Group’s dividend payout ratio is presently 25.20%.

Analyst Ratings Changes

A number of research firms have weighed in on AFG. Jefferies Financial Group began coverage on American Financial Group in a research note on Thursday, September 7th. They set a “hold” rating and a $120.00 price objective on the stock. StockNews.com started coverage on American Financial Group in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Piper Sandler decreased their price target on American Financial Group from $162.00 to $150.00 in a research note on Thursday, July 6th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $143.75.

Check Out Our Latest Analysis on AFG

About American Financial Group

(Free Report)

American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. It 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.