Short Interest in American Financial Group, Inc. (NYSE:AFG) Drops By 22.0%

American Financial Group, Inc. (NYSE:AFG) was the target of a large decrease in short interest in March. As of March 13th, there was short interest totaling 1,540,601 shares, a decrease of 22.0% from the February 26th total of 1,975,172 shares. Based on an average daily trading volume, of 459,785 shares, the short-interest ratio is currently 3.4 days. Approximately 2.2% of the company’s shares are sold short.

American Financial Group Stock Up 1.1%

NYSE AFG traded up $1.34 on Monday, reaching $127.12. The company had a trading volume of 488,042 shares, compared to its average volume of 671,347. The firm has a market capitalization of $10.59 billion, a price-to-earnings ratio of 12.62 and a beta of 0.69. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.23 and a current ratio of 0.23. American Financial Group has a 1-year low of $114.73 and a 1-year high of $150.02. The company’s fifty day moving average is $129.35 and its 200-day moving average is $134.55.

American Financial Group (NYSE:AFG) last released its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $3.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.47. The firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $1.79 billion. American Financial Group had a return on equity of 18.64% and a net margin of 10.30%.The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the business posted $3.12 EPS. On average, research analysts forecast that American Financial Group will post 10.5 earnings per share for the current fiscal year.

American Financial Group Dividend Announcement

The company also recently announced a special dividend, which was paid on Wednesday, February 25th. Shareholders of record on Monday, February 16th were paid a $1.50 dividend. The ex-dividend date was Friday, February 13th. American Financial Group’s payout ratio is presently 34.96%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AFG. Weiss Ratings raised American Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 16th. Wells Fargo & Company decreased their price objective on American Financial Group from $165.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Finally, Keefe, Bruyette & Woods increased their target price on American Financial Group from $134.00 to $140.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 25th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $145.25.

Insider Buying and Selling

In related news, CFO Brian S. Hertzman sold 1,663 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $133.70, for a total transaction of $222,343.10. Following the sale, the chief financial officer owned 12,073 shares of the company’s stock, valued at approximately $1,614,160.10. This trade represents a 12.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On American Financial Group

A number of large investors have recently bought and sold shares of the company. Advisors Asset Management Inc. raised its holdings in shares of American Financial Group by 3.2% in the second quarter. Advisors Asset Management Inc. now owns 2,640 shares of the insurance provider’s stock valued at $333,000 after purchasing an additional 83 shares during the last quarter. JB Capital LLC boosted its holdings in American Financial Group by 2.1% during the fourth quarter. JB Capital LLC now owns 4,268 shares of the insurance provider’s stock worth $583,000 after purchasing an additional 89 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in American Financial Group by 11.5% during the third quarter. EverSource Wealth Advisors LLC now owns 884 shares of the insurance provider’s stock worth $129,000 after purchasing an additional 91 shares during the last quarter. Jones Financial Companies Lllp grew its position in American Financial Group by 12.1% in the third quarter. Jones Financial Companies Lllp now owns 863 shares of the insurance provider’s stock valued at $125,000 after purchasing an additional 93 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in American Financial Group by 2.2% in the fourth quarter. Larson Financial Group LLC now owns 4,546 shares of the insurance provider’s stock valued at $621,000 after purchasing an additional 98 shares in the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.

American Financial Group Company Profile

American Financial Group, Inc (NYSE: AFG) is a diversified holding company primarily engaged in property and casualty insurance and reinsurance. Through its flagship subsidiary, Great American Insurance Company, the firm underwrites a broad range of specialty insurance products for commercial and industrial clients, including inland marine, excess and surplus lines, executive liability, and environmental liability coverage. In addition, American Financial Group offers supplemental accident and health insurance and assumes reinsurance risks from other insurers, helping to diversify its underwriting portfolio.

The company traces its roots to 1946, when it was founded by Carl Lindner, Sr.