Franklin Resources Inc. Cuts Stock Holdings in American Financial Group, Inc. (NYSE:AFG)

Franklin Resources Inc. lowered its position in shares of American Financial Group, Inc. (NYSE:AFG) by 28.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 35,663 shares of the insurance provider’s stock after selling 14,133 shares during the quarter. Franklin Resources Inc.’s holdings in American Financial Group were worth $4,883,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. UMB Bank n.a. lifted its position in shares of American Financial Group by 86.8% during the fourth quarter. UMB Bank n.a. now owns 340 shares of the insurance provider’s stock worth $47,000 after purchasing an additional 158 shares in the last quarter. Jones Financial Companies Lllp grew its stake in American Financial Group by 91.2% in the fourth quarter. Jones Financial Companies Lllp now owns 520 shares of the insurance provider’s stock worth $71,000 after purchasing an additional 248 shares in the last quarter. Allworth Financial LP increased its holdings in shares of American Financial Group by 301.1% in the 4th quarter. Allworth Financial LP now owns 702 shares of the insurance provider’s stock valued at $94,000 after acquiring an additional 527 shares during the last quarter. GAMMA Investing LLC increased its stake in American Financial Group by 31.6% during the fourth quarter. GAMMA Investing LLC now owns 1,059 shares of the insurance provider’s stock valued at $145,000 after purchasing an additional 254 shares during the last quarter. Finally, abrdn plc bought a new stake in shares of American Financial Group during the 4th quarter valued at about $223,000. Institutional investors and hedge funds own 64.37% of the company’s stock.

Insider Activity

In related news, Director Gregory G. Joseph purchased 3,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were acquired at an average cost of $121.00 per share, with a total value of $363,000.00. Following the completion of the purchase, the director now directly owns 57,477 shares of the company’s stock, valued at $6,954,717. This trade represents a 5.51 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 14.50% of the stock is currently owned by corporate insiders.

American Financial Group Stock Down 0.6 %

American Financial Group stock opened at $124.55 on Friday. American Financial Group, Inc. has a fifty-two week low of $114.73 and a fifty-two week high of $150.19. The firm has a market cap of $10.42 billion, a price-to-earnings ratio of 11.78 and a beta of 0.59. The firm has a fifty day moving average price of $125.58 and a two-hundred day moving average price of $133.01. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.53 and a quick ratio of 0.53.

American Financial Group (NYSE:AFG) last posted its quarterly earnings data on Tuesday, February 4th. The insurance provider reported $3.12 earnings per share for the quarter, missing the consensus estimate of $3.15 by ($0.03). American Financial Group had a return on equity of 20.30% and a net margin of 10.66%. As a group, analysts forecast that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Tuesday, April 15th. American Financial Group’s payout ratio is presently 30.27%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reduced their price target on American Financial Group from $144.00 to $126.00 and set a “market perform” rating for the company in a research report on Wednesday.

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.