Verition Fund Management LLC Sells 282,615 Shares of American Financial Group, Inc. (NYSE:AFG)

Verition Fund Management LLC lessened its holdings in shares of American Financial Group, Inc. (NYSE:AFG - Free Report) by 91.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,538 shares of the insurance provider's stock after selling 282,615 shares during the quarter. Verition Fund Management LLC's holdings in American Financial Group were worth $3,437,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Innealta Capital LLC bought a new position in American Financial Group in the 2nd quarter valued at about $30,000. Headlands Technologies LLC bought a new position in American Financial Group during the 2nd quarter valued at $38,000. Blue Trust Inc. boosted its holdings in American Financial Group by 44.3% during the 2nd quarter. Blue Trust Inc. now owns 433 shares of the insurance provider's stock worth $59,000 after acquiring an additional 133 shares during the last quarter. nVerses Capital LLC raised its holdings in shares of American Financial Group by 200.0% in the second quarter. nVerses Capital LLC now owns 600 shares of the insurance provider's stock valued at $74,000 after purchasing an additional 400 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of American Financial Group during the second quarter valued at about $85,000. 64.37% of the stock is owned by institutional investors.

American Financial Group Stock Performance

AFG traded up $0.86 during midday trading on Wednesday, reaching $142.89. The company had a trading volume of 355,086 shares, compared to its average volume of 313,292. American Financial Group, Inc. has a 12-month low of $114.73 and a 12-month high of $150.19. The business has a 50-day moving average price of $137.13 and a two-hundred day moving average price of $131.55. The stock has a market cap of $11.99 billion, a PE ratio of 13.29 and a beta of 0.82. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.53 and a current ratio of 0.53.

American Financial Group (NYSE:AFG - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The insurance provider reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.20). American Financial Group had a return on equity of 19.97% and a net margin of 10.84%. The firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the company posted $2.45 EPS. The firm's revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts expect that American Financial Group, Inc. will post 10.73 earnings per share for the current fiscal year.

American Financial Group Increases Dividend

The firm also recently disclosed a None dividend, which was paid on Tuesday, November 26th. Investors of record on Friday, November 15th were issued a $4.00 dividend. The ex-dividend date of this dividend was Friday, November 15th. This is an increase from American Financial Group's previous None dividend of $1.00. American Financial Group's dividend payout ratio (DPR) is 29.99%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AFG. BMO Capital Markets upped 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 increased their price target on American Financial Group from $135.00 to $150.00 and gave the company a "neutral" rating in a research 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.