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

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

Other hedge funds have also recently modified their holdings of the company. UMB Bank n.a. increased its stake in American Financial Group by 86.8% during the 4th quarter. UMB Bank n.a. now owns 340 shares of the insurance provider’s stock worth $47,000 after buying an additional 158 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of 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 acquiring an additional 248 shares during the last quarter. Allworth Financial LP raised its stake in 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 purchasing an additional 527 shares during the last quarter. GAMMA Investing LLC lifted its holdings in American Financial Group by 31.6% in the 4th 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 in the last quarter. Finally, abrdn plc acquired a new stake in American Financial Group during the 4th quarter worth $223,000. Institutional investors and hedge funds own 64.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reduced their target price on shares of 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 Stock Performance

Shares of American Financial Group stock opened at $124.55 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.53 and a current ratio of 0.53. The business’s 50 day moving average price is $125.58 and its 200 day moving average price is $133.01. The company has a market cap of $10.42 billion, a price-to-earnings ratio of 11.78 and a beta of 0.59. American Financial Group, Inc. has a one year low of $114.73 and a one year high of $150.19.

American Financial Group (NYSE:AFG) last announced its quarterly earnings data 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 net margin of 10.66% and a return on equity of 20.30%. On average, research analysts predict that American Financial Group, Inc. will post 10.5 EPS for the current year.

American Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Tuesday, April 15th will be given 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 of this dividend is Tuesday, April 15th. American Financial Group’s payout ratio is presently 30.27%.

Insider Activity at American Financial Group

In other American Financial Group news, Director Gregory G. Joseph acquired 3,000 shares of the stock in a transaction on Thursday, February 20th. The shares were bought at an average cost of $121.00 per share, with a total value of $363,000.00. Following the transaction, the director now owns 57,477 shares of the company’s stock, valued at approximately $6,954,717. This trade represents a 5.51 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 14.50% of the stock is currently 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.