Assenagon Asset Management S.A. Cuts Position in American Financial Group, Inc. (NYSE:AFG)

Assenagon Asset Management S.A. cut its holdings in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 93.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,693 shares of the insurance provider's stock after selling 107,357 shares during the period. Assenagon Asset Management S.A.'s holdings in American Financial Group were worth $1,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in AFG. FMR LLC boosted its stake in shares of American Financial Group by 3.8% in the third quarter. FMR LLC now owns 5,516,351 shares of the insurance provider's stock worth $742,501,000 after buying an additional 202,522 shares during the last quarter. JPMorgan Chase & Co. boosted its position in American Financial Group by 78.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 333,078 shares of the insurance provider's stock worth $44,832,000 after purchasing an additional 146,237 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of American Financial Group by 10.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,553,207 shares of the insurance provider's stock worth $208,699,000 after purchasing an additional 143,820 shares during the period. Bank of Montreal Can increased its holdings in shares of American Financial Group by 251.1% during the 2nd quarter. Bank of Montreal Can now owns 147,892 shares of the insurance provider's stock valued at $19,442,000 after purchasing an additional 105,764 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of American Financial Group by 4.0% in the 3rd quarter. State Street Corp now owns 2,693,356 shares of the insurance provider's stock valued at $362,526,000 after purchasing an additional 104,172 shares during the period. 64.37% of the stock is owned by hedge funds and other institutional investors.

American Financial Group Price Performance

AFG traded up $1.32 during midday trading on Friday, hitting $135.12. 285,466 shares of the company traded hands, compared to its average volume of 206,531. The business has a 50 day simple moving average of $138.55 and a two-hundred day simple moving average of $134.31. American Financial Group, Inc. has a 52-week low of $115.64 and a 52-week high of $150.19. The company has a market capitalization of $11.34 billion, a price-to-earnings ratio of 12.66 and a beta of 0.83. The company has a current ratio of 0.53, a quick 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 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.20). The firm had revenue of $2.06 billion for the quarter, compared to analysts' expectations of $1.80 billion. American Financial Group had a return on equity of 19.97% and a net margin of 10.84%. American Financial Group's quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.45 earnings per share. On average, equities analysts forecast that American Financial Group, Inc. will post 10.74 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 Friday, January 24th. Investors of record on Tuesday, January 14th were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, January 14th. This represents a $3.20 annualized dividend and a dividend yield of 2.37%. American Financial Group's dividend payout ratio is presently 29.99%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AFG shares. Keefe, Bruyette & Woods cut their price objective on shares of American Financial Group from $165.00 to $164.00 and set an "outperform" rating for the company in a report on Friday, January 10th. BMO Capital Markets lifted their price target on American Financial Group from $135.00 to $143.00 and gave the company a "market perform" rating in a research note on Friday, November 15th. Finally, Piper Sandler increased their price target on American Financial Group from $135.00 to $150.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 12th.

American Financial Group 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.