Bank of New York Mellon Corp Reduces Holdings in American Financial Group Inc (AFG)

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Bank of New York Mellon Corp decreased its holdings in American Financial Group Inc (NYSE:AFG) by 3.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 951,224 shares of the insurance provider’s stock after selling 34,514 shares during the period. Bank of New York Mellon Corp owned about 1.07% of American Financial Group worth $102,095,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the business. LPL Financial LLC grew its holdings in shares of American Financial Group by 229.2% during the first quarter. LPL Financial LLC now owns 9,344 shares of the insurance provider’s stock worth $1,049,000 after purchasing an additional 6,506 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of American Financial Group by 7.6% during the first quarter. Principal Financial Group Inc. now owns 742,687 shares of the insurance provider’s stock worth $83,343,000 after purchasing an additional 52,766 shares during the last quarter. Brown Advisory Inc. bought a new stake in shares of American Financial Group during the first quarter worth about $310,000. IFM Investors Pty Ltd bought a new stake in shares of American Financial Group during the second quarter worth about $228,000. Finally, CENTRAL TRUST Co bought a new stake in shares of American Financial Group during the second quarter worth about $383,000. Institutional investors and hedge funds own 61.97% of the company’s stock.

In related news, CEO Carl H. Lindner III sold 181,000 shares of American Financial Group stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $113.49, for a total value of $20,541,690.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John B. Berding sold 17,721 shares of American Financial Group stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $112.45, for a total value of $1,992,726.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 318,169 shares of company stock worth $35,862,424. 14.90% of the stock is owned by insiders.

American Financial Group stock opened at $106.18 on Friday. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $9.20 billion, a P/E ratio of 16.21, a P/E/G ratio of 0.97 and a beta of 0.84. American Financial Group Inc has a one year low of $98.22 and a one year high of $121.69.

American Financial Group (NYSE:AFG) last posted its quarterly earnings data on Tuesday, October 30th. The insurance provider reported $2.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.88 by $0.31. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.29 billion. American Financial Group had a return on equity of 15.37% and a net margin of 9.98%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.06 earnings per share. Equities analysts predict that American Financial Group Inc will post 8.6 earnings per share for the current fiscal year.

The business also recently disclosed a special dividend, which will be paid on Monday, November 26th. Investors of record on Friday, November 16th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Thursday, November 15th. American Financial Group’s dividend payout ratio is currently 24.43%.

A number of equities analysts recently commented on the company. ValuEngine lowered American Financial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Zacks Investment Research raised American Financial Group from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Saturday, July 14th. Finally, Raymond James lowered American Financial Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 12th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $120.33.

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American Financial Group Profile

American Financial Group, Inc, through its subsidiaries, provides property and casualty insurance products in the United States. The company operates through Property and Casualty Insurance, Annuity, Run-Off Long-Term Care and Life, and Other segments. It offers property and transportation insurance products, such as physical damage and liability coverage for buses, trucks and recreational vehicles, inland and ocean marine, agricultural-related products, and other property coverages; specialty casualty insurance, including primarily excess and surplus, general liability, executive liability, professional liability, umbrella and excess liability, and specialty coverage in targeted markets and customized programs for small to mid-sized businesses; and specialty financial insurance products comprising risk management insurance programs for leasing and financing institutions, surety and fidelity products, and trade credit insurance.

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Institutional Ownership by Quarter for American Financial Group (NYSE:AFG)

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