CIBC Asset Management Inc Trims Stock Position in American Financial Group, Inc. (NYSE:AFG)

CIBC Asset Management Inc reduced its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 16.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,909 shares of the insurance provider’s stock after selling 782 shares during the quarter. CIBC Asset Management Inc’s holdings in American Financial Group were worth $535,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AFG. FMR LLC increased its position in American Financial Group by 3.8% during the 3rd quarter. FMR LLC now owns 5,516,351 shares of the insurance provider’s stock valued at $742,501,000 after purchasing an additional 202,522 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of American Financial Group by 78.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 333,078 shares of the insurance provider’s stock valued at $44,832,000 after buying an additional 146,237 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of American Financial Group by 10.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,553,207 shares of the insurance provider’s stock valued at $208,699,000 after buying an additional 143,820 shares in the last quarter. State Street Corp boosted its holdings in shares of American Financial Group by 4.0% during the 3rd quarter. State Street Corp now owns 2,693,356 shares of the insurance provider’s stock valued at $362,526,000 after buying an additional 104,172 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of American Financial Group by 123.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 115,050 shares of the insurance provider’s stock valued at $15,486,000 after buying an additional 63,541 shares in the last quarter. 64.37% of the stock is owned by hedge funds and other institutional investors.

American Financial Group Stock Performance

Shares of American Financial Group stock opened at $119.80 on Friday. The stock has a market cap of $10.05 billion, a price-to-earnings ratio of 11.33 and a beta of 0.83. The firm’s 50-day moving average is $132.83 and its 200 day moving average is $134.59. American Financial Group, Inc. has a 1 year low of $118.97 and a 1 year high of $150.19. 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 announced its quarterly earnings results on Tuesday, February 4th. The insurance provider reported $3.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.03). American Financial Group had a return on equity of 20.30% and a net margin of 10.66%. Sell-side analysts anticipate that American Financial Group, Inc. will post 10.5 EPS for the current fiscal year.

American Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Tuesday, January 14th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.67%. The ex-dividend date was Tuesday, January 14th. American Financial Group’s dividend payout ratio is currently 30.27%.

Analysts Set New Price Targets

AFG has been the topic of a number of research reports. Piper Sandler boosted their target price on shares of American Financial Group from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. BMO Capital Markets boosted their target price on shares of American Financial Group from $135.00 to $143.00 and gave the company a “market perform” rating in a report on Friday, November 15th. Finally, Keefe, Bruyette & Woods cut shares of American Financial Group from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $164.00 to $144.00 in a report on Friday, February 7th.

American Financial Group Company 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.