American Financial Group, Inc. $AFG Position Decreased by Reinhart Partners LLC.

Reinhart Partners LLC. cut its stake in American Financial Group, Inc. (NYSE:AFG) by 15.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,503 shares of the insurance provider’s stock after selling 4,540 shares during the period. Reinhart Partners LLC.’s holdings in American Financial Group were worth $3,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cassaday & Co Wealth Management LLC acquired a new position in American Financial Group during the first quarter worth $26,000. Global Retirement Partners LLC purchased a new stake in American Financial Group in the 2nd quarter valued at $32,000. Versant Capital Management Inc increased its stake in shares of American Financial Group by 135.7% in the 3rd quarter. Versant Capital Management Inc now owns 264 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 152 shares during the last quarter. Keating Financial Advisory Services Inc. acquired a new stake in shares of American Financial Group in the 2nd quarter worth $42,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of American Financial Group during the 2nd quarter worth $46,000. Institutional investors and hedge funds own 64.37% of the company’s stock.

Insider Transactions at American Financial Group

In other news, VP Mark A. Weiss sold 2,813 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $144.76, for a total value of $407,209.88. Following the transaction, the vice president directly owned 6,648 shares in the company, valued at approximately $962,364.48. This represents a 29.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brian S. Hertzman sold 950 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $142.87, for a total transaction of $135,726.50. Following the transaction, the chief financial officer directly owned 11,123 shares of the company’s stock, valued at $1,589,143.01. The trade was a 7.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 16.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

AFG has been the topic of several recent research reports. Weiss Ratings raised shares of American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Keefe, Bruyette & Woods lifted their target price on shares of American Financial Group from $148.00 to $153.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 11th. Wells Fargo & Company boosted their target price on shares of American Financial Group from $158.00 to $173.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Wall Street Zen lowered shares of American Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, September 12th. Finally, Piper Sandler increased their price target on shares of American Financial Group from $140.00 to $156.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $156.00.

American Financial Group Price Performance

NYSE:AFG opened at $141.09 on Friday. American Financial Group, Inc. has a 52 week low of $123.09 and a 52 week high of $148.71. The stock’s fifty day moving average is $142.34 and its two-hundred day moving average is $137.29. The company has a market capitalization of $11.70 billion, a P/E ratio of 12.33 and a beta of 0.59. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.38.

American Financial Group (NYSE:AFG) last released its quarterly earnings results on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.50. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.85 billion. American Financial Group had a return on equity of 20.35% and a net margin of 11.51%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.14 EPS. Equities analysts expect that American Financial Group, Inc. will post 12.29 EPS for the current year.

American Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 2.7%. This is a boost from American Financial Group’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Thursday, October 15th. American Financial Group’s payout ratio is 33.92%.

About American Financial Group

American Financial Group, Inc is an insurance holding company headquartered in Cincinnati, Ohio. Through its Great American Insurance Group businesses, the company primarily provides property and casualty insurance products, with an emphasis on specialty commercial markets that require specialized underwriting expertise.

Its insurance offerings include coverage for commercial transportation, agriculture, workers’ compensation, excess and surplus risks, environmental exposures, inland marine, and other niche industries.