Victory Capital Management Inc. Sells 333,326 Shares of American Financial Group, Inc. (NYSE:AFG)

Victory Capital Management Inc. reduced its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 8.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,404,379 shares of the insurance provider’s stock after selling 333,326 shares during the period. Victory Capital Management Inc. owned approximately 4.06% of American Financial Group worth $458,229,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AFG. Sei Investments Co. grew its stake in shares of American Financial Group by 0.3% in the second quarter. Sei Investments Co. now owns 26,059 shares of the insurance provider’s stock valued at $3,206,000 after buying an additional 86 shares in the last quarter. Diversified Trust Co grew its holdings in American Financial Group by 5.0% during the 2nd quarter. Diversified Trust Co now owns 2,105 shares of the insurance provider’s stock valued at $259,000 after buying an additional 100 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in American Financial Group by 6.3% in the 3rd quarter. Verdence Capital Advisors LLC now owns 2,100 shares of the insurance provider’s stock worth $283,000 after acquiring an additional 125 shares during the period. Blue Trust Inc. increased its position 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 purchasing an additional 133 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in American Financial Group by 2.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 6,882 shares of the insurance provider’s stock worth $937,000 after acquiring an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AFG shares. Piper Sandler boosted their price target on shares of American Financial Group from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Tuesday. BMO Capital Markets raised their price objective on shares of American Financial Group from $132.00 to $135.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 8th.

American Financial Group Stock Performance

Shares of AFG traded up $0.16 on Tuesday, reaching $142.37. 37,850 shares of the company’s stock traded hands, compared to its average volume of 301,504. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.34. The stock has a market cap of $11.95 billion, a PE ratio of 13.33 and a beta of 0.79. American Financial Group, Inc. has a 52-week low of $107.73 and a 52-week high of $142.85. The stock’s 50 day simple moving average is $134.09 and its two-hundred day simple moving average is $129.88.

American Financial Group (NYSE:AFG) last announced 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). American Financial Group had a return on equity of 20.45% and a net margin of 10.84%. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the firm posted $2.45 earnings per share. The company’s revenue was up 10.8% compared to the same quarter last year. On average, analysts forecast that American Financial Group, Inc. will post 10.93 earnings per share for the current fiscal year.

American Financial Group Increases Dividend

The company also recently disclosed a None dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Friday, November 15th will be paid a $4.00 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from American Financial Group’s previous None dividend of $1.00. American Financial Group’s dividend payout ratio is 29.99%.

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.