Principal Financial Group Inc. Trims Stake in American Financial Group, Inc. (NYSE:AFG)

Principal Financial Group Inc. lowered its stake in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 22.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 172,360 shares of the insurance provider's stock after selling 51,238 shares during the period. Principal Financial Group Inc. owned approximately 0.21% of American Financial Group worth $23,200,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in shares of American Financial Group during the second quarter worth $30,000. Headlands Technologies LLC acquired a new position in American Financial Group during the 2nd quarter worth about $38,000. nVerses Capital LLC boosted its holdings in American Financial Group by 200.0% during the 2nd quarter. nVerses Capital LLC now owns 600 shares of the insurance provider's stock valued at $74,000 after acquiring an additional 400 shares during the period. Acadian Asset Management LLC acquired a new position in American Financial Group in the 2nd quarter valued at about $85,000. Finally, Abich Financial Wealth Management LLC increased its stake in American Financial Group by 35.6% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 716 shares of the insurance provider's stock worth $88,000 after buying an additional 188 shares during the period. Institutional investors and hedge funds own 64.37% of the company's stock.

American Financial Group Stock Performance

NYSE:AFG traded down $0.17 during trading hours on Thursday, reaching $138.16. 171,252 shares of the company's stock were exchanged, compared to its average volume of 314,627. The company has a 50-day moving average of $138.30 and a 200 day moving average of $132.70. American Financial Group, Inc. has a 1-year low of $115.64 and a 1-year high of $150.19. The firm has a market capitalization of $11.60 billion, a price-to-earnings ratio of 12.95 and a beta of 0.82. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.31.

American Financial Group (NYSE:AFG - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The insurance provider reported $2.31 earnings per share for the quarter, missing analysts' consensus estimates of $2.51 by ($0.20). The firm had revenue of $2.06 billion during the quarter, compared to analysts' expectations of $1.80 billion. American Financial Group had a net margin of 10.84% and a return on equity of 19.97%. The business's quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the business earned $2.45 earnings per share. Research analysts anticipate that American Financial Group, Inc. will post 10.73 EPS for the current year.

American Financial Group Increases Dividend

The company also recently declared a None dividend, which was paid on Tuesday, November 26th. Investors of record on Friday, November 15th were issued a dividend of $4.00 per share. This is a boost from American Financial Group's previous None dividend of $1.00. The ex-dividend date of this dividend was Friday, November 15th. American Financial Group's dividend payout ratio is currently 29.99%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AFG shares. BMO Capital Markets lifted their price objective on shares of American Financial Group from $135.00 to $143.00 and gave the stock a "market perform" rating in a research report on Friday, November 15th. Piper Sandler lifted their price target on American Financial Group from $135.00 to $150.00 and gave the stock a "neutral" rating in a report on Tuesday, November 12th.

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.