Sovereign s Capital Management LLC Sells 6,154 Shares of American Financial Group, Inc. $AFG

Sovereign s Capital Management LLC cut its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 16.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,738 shares of the insurance provider’s stock after selling 6,154 shares during the quarter. American Financial Group accounts for about 2.5% of Sovereign s Capital Management LLC’s holdings, making the stock its 16th biggest holding. Sovereign s Capital Management LLC’s holdings in American Financial Group were worth $4,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of AFG. Global Retirement Partners LLC lifted its position in American Financial Group by 904.8% during the fourth quarter. Global Retirement Partners LLC now owns 211 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 190 shares during the last quarter. Clearstead Advisors LLC raised its stake in shares of American Financial Group by 87.7% during the fourth quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 121 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of American Financial Group by 165.0% during the third quarter. Smartleaf Asset Management LLC now owns 273 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 170 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of American Financial Group during the third quarter worth approximately $44,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of American Financial Group during the fourth quarter worth approximately $45,000. 64.37% of the stock is currently owned by institutional investors.

American Financial Group Trading Up 0.5%

AFG stock opened at $134.53 on Wednesday. The company has a market capitalization of $11.18 billion, a PE ratio of 12.79 and a beta of 0.64. American Financial Group, Inc. has a one year low of $121.98 and a one year high of $150.02. The company’s 50 day moving average price is $132.18 and its two-hundred day moving average price is $131.80. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.48 and a current ratio of 0.48.

American Financial Group (NYSE:AFG) last issued its earnings results on Thursday, April 30th. The insurance provider reported $2.47 EPS for the quarter, missing the consensus estimate of $2.54 by ($0.07). American Financial Group had a return on equity of 19.50% and a net margin of 10.76%.The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the firm earned $1.81 earnings per share. The firm’s quarterly revenue was down .1% compared to the same quarter last year. As a group, analysts predict that American Financial Group, Inc. will post 11.37 earnings per share for the current fiscal year.

American Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Wednesday, April 15th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, April 15th. American Financial Group’s payout ratio is presently 33.46%.

Wall Street Analyst Weigh In

Several research analysts have commented on AFG shares. Wells Fargo & Company lifted their price target on shares of American Financial Group from $155.00 to $158.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of American Financial Group in a research note on Thursday, June 11th. Keefe, Bruyette & Woods lifted their price target on shares of 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. Finally, Piper Sandler lifted their price target on shares of American Financial Group from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $145.00.

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.