Mackenzie Financial Corp Sells 5,217 Shares of American Financial Group, Inc. (NYSE:AFG)

Mackenzie Financial Corp decreased its position in American Financial Group, Inc. (NYSE:AFG) by 23.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,660 shares of the insurance provider’s stock after selling 5,217 shares during the quarter. Mackenzie Financial Corp’s holdings in American Financial Group were worth $1,981,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AFG. VisionPoint Advisory Group LLC raised its position in shares of American Financial Group by 132.5% in the third quarter. VisionPoint Advisory Group LLC now owns 272 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 155 shares during the period. Ronald Blue Trust Inc. raised its position in shares of American Financial Group by 44.8% in the third quarter. Ronald Blue Trust Inc. now owns 323 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Arlington Trust Co LLC bought a new position in shares of American Financial Group in the fourth quarter valued at approximately $42,000. Itau Unibanco Holding S.A. bought a new position in shares of American Financial Group in the third quarter valued at approximately $52,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of American Financial Group by 7,616.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 926 shares of the insurance provider’s stock valued at $110,000 after purchasing an additional 914 shares during the period. Institutional investors own 64.37% of the company’s stock.

American Financial Group Trading Up 0.7 %

Shares of AFG stock opened at $129.71 on Wednesday. American Financial Group, Inc. has a 1 year low of $105.22 and a 1 year high of $137.71. The firm’s fifty day simple moving average is $129.36 and its 200 day simple moving average is $120.25. The firm has a market capitalization of $10.88 billion, a P/E ratio of 12.91 and a beta of 0.79. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.35.

American Financial Group (NYSE:AFG) last announced its earnings results on Wednesday, February 7th. The insurance provider reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.67 billion. American Financial Group had a net margin of 10.89% and a return on equity of 22.14%. American Financial Group’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.99 earnings per share. As a group, sell-side analysts predict that American Financial Group, Inc. will post 10.99 EPS for the current year.

American Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 15th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Friday, April 12th. American Financial Group’s dividend payout ratio (DPR) is presently 28.26%.

Insider Buying and Selling at American Financial Group

In other American Financial Group news, CFO Brian S. Hertzman sold 1,067 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $126.95, for a total value of $135,455.65. Following the sale, the chief financial officer now owns 10,583 shares of the company’s stock, valued at approximately $1,343,511.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Michelle A. Gillis sold 5,176 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $121.00, for a total value of $626,296.00. Following the sale, the senior vice president now owns 45,372 shares of the company’s stock, valued at approximately $5,490,012. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian S. Hertzman sold 1,067 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $126.95, for a total transaction of $135,455.65. Following the completion of the sale, the chief financial officer now directly owns 10,583 shares in the company, valued at approximately $1,343,511.85. The disclosure for this sale can be found here. Insiders have sold 14,843 shares of company stock valued at $1,854,746 in the last 90 days. 14.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Piper Sandler restated a “neutral” rating and issued a $129.00 price objective on shares of American Financial Group in a research note on Monday, April 1st. Citigroup boosted their target price on shares of American Financial Group from $139.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $133.50.

American Financial Group Company Profile

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.