American Financial Group, Inc. (NYSE:AFG) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its position in American Financial Group, Inc. (NYSE:AFG) by 6.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,737,705 shares of the insurance provider’s stock after selling 273,238 shares during the quarter. American Financial Group accounts for 0.5% of Victory Capital Management Inc.’s holdings, making the stock its 28th largest holding. Victory Capital Management Inc.’s holdings in American Financial Group were worth $459,812,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Impact Partnership Wealth LLC grew its holdings in American Financial Group by 84.2% during the 2nd quarter. Impact Partnership Wealth LLC now owns 4,597 shares of the insurance provider’s stock worth $565,000 after acquiring an additional 2,101 shares in the last quarter. TD Asset Management Inc increased its holdings in American Financial Group by 7.1% in the second quarter. TD Asset Management Inc now owns 27,831 shares of the insurance provider’s stock valued at $3,424,000 after buying an additional 1,854 shares during the last quarter. Resonant Capital Advisors LLC raised its stake in American Financial Group by 6.6% in the second quarter. Resonant Capital Advisors LLC now owns 5,457 shares of the insurance provider’s stock valued at $671,000 after buying an additional 338 shares in the last quarter. Natixis Advisors LLC lifted its holdings in American Financial Group by 6.0% during the 2nd quarter. Natixis Advisors LLC now owns 17,385 shares of the insurance provider’s stock worth $2,139,000 after buying an additional 991 shares during the last quarter. Finally, nVerses Capital LLC boosted its position in shares of American Financial Group by 200.0% during the 2nd quarter. nVerses Capital LLC now owns 600 shares of the insurance provider’s stock worth $74,000 after acquiring an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Citigroup cut American Financial Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $144.00 to $137.00 in a research note on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $131.75.

American Financial Group Stock Performance

NYSE AFG opened at $133.06 on Friday. The company has a fifty day moving average of $127.27 and a two-hundred day moving average of $128.44. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.46 and a quick ratio of 0.46. American Financial Group, Inc. has a 1 year low of $105.22 and a 1 year high of $137.71. The company has a market capitalization of $11.16 billion, a PE ratio of 12.73 and a beta of 0.78.

American Financial Group (NYSE:AFG) last announced its earnings results on Tuesday, August 6th. The insurance provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.11. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.72 billion. American Financial Group had a return on equity of 21.16% and a net margin of 11.06%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.38 EPS. As a group, analysts expect that American Financial Group, Inc. will post 10.96 earnings per share for the current year.

American Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Monday, July 15th were issued a $0.71 dividend. The ex-dividend date was Monday, July 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.13%. American Financial Group’s payout ratio is 27.18%.

Insider Activity at American Financial Group

In other American Financial Group news, Director Amy Y. Murray bought 1,200 shares of American Financial Group stock in a transaction dated Friday, June 28th. The stock was acquired at an average cost of $125.17 per share, with a total value of $150,204.00. Following the completion of the acquisition, the director now owns 1,200 shares of the company’s stock, valued at $150,204. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 14.50% of the stock is owned by insiders.

About American Financial Group

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.