Jackson Wealth Management LLC Lowers Stock Position in American Financial Group, Inc. (NYSE:AFG)

Jackson Wealth Management LLC lessened its holdings in American Financial Group, Inc. (NYSE:AFG) by 33.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 11,261 shares of the insurance provider’s stock after selling 5,751 shares during the period. Jackson Wealth Management LLC’s holdings in American Financial Group were worth $1,385,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Victory Capital Management Inc. lifted its position in shares of American Financial Group by 5.2% in the 4th quarter. Victory Capital Management Inc. now owns 3,838,501 shares of the insurance provider’s stock worth $456,359,000 after purchasing an additional 191,269 shares during the period. Norges Bank purchased a new stake in American Financial Group during the fourth quarter valued at approximately $97,304,000. Goldman Sachs Group Inc. lifted its position in American Financial Group by 3.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 648,878 shares of the insurance provider’s stock valued at $77,145,000 after acquiring an additional 18,945 shares during the last quarter. Johnson Investment Counsel Inc. lifted its position in American Financial Group by 12.1% during the fourth quarter. Johnson Investment Counsel Inc. now owns 585,876 shares of the insurance provider’s stock valued at $69,655,000 after acquiring an additional 63,181 shares during the last quarter. Finally, Bahl & Gaynor Inc. lifted its position in American Financial Group by 7.1% during the first quarter. Bahl & Gaynor Inc. now owns 453,084 shares of the insurance provider’s stock valued at $61,837,000 after acquiring an additional 29,922 shares during the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Piper Sandler increased their target price on shares of American Financial Group from $129.00 to $135.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. Citigroup cut shares of American Financial Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $144.00 to $137.00 in a research report on Friday, June 28th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $131.75.

American Financial Group Stock Performance

American Financial Group stock traded down $0.98 during mid-day trading on Friday, reaching $127.80. 410,079 shares of the company traded hands, compared to its average volume of 311,578. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.46 and a quick ratio of 0.46. American Financial Group, Inc. has a fifty-two week low of $105.22 and a fifty-two week high of $137.71. The company has a market capitalization of $10.72 billion, a price-to-earnings ratio of 12.23 and a beta of 0.78. The firm’s fifty day moving average is $126.08 and its two-hundred day moving average is $127.03.

American Financial Group (NYSE:AFG) last issued its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.06. American Financial Group had a net margin of 11.03% and a return on equity of 21.34%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the business posted $2.89 EPS. On average, equities research analysts expect that American Financial Group, Inc. will post 10.93 earnings per share for the current fiscal year.

American Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Monday, July 15th were paid a $0.71 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.22%. American Financial Group’s payout ratio is currently 27.18%.

Insider Transactions at American Financial Group

In other American Financial Group news, Director Amy Y. Murray acquired 1,200 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average price of $125.17 per share, for a total transaction of $150,204.00. Following the completion of the purchase, the director now directly owns 1,200 shares of the company’s stock, valued at $150,204. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 14.50% of the company’s stock.

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.