Corebridge Financial Inc. Cuts Stock Position in American Financial Group, Inc. (NYSE:AFG)

Corebridge Financial Inc. cut its holdings in shares of American Financial Group, Inc. (NYSE:AFG) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,672 shares of the insurance provider’s stock after selling 3,654 shares during the quarter. Corebridge Financial Inc. owned approximately 0.10% of American Financial Group worth $11,183,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. UMB Bank n.a. increased its holdings in 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 buying an additional 158 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of American Financial Group by 91.2% during the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the insurance provider’s stock worth $71,000 after purchasing an additional 248 shares during the last quarter. Allworth Financial LP raised 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 worth $94,000 after purchasing an additional 527 shares during the period. iA Global Asset Management Inc. purchased a new position in American Financial Group in the third quarter valued at approximately $125,000. Finally, Brooklyn Investment Group bought a new position in American Financial Group during the third quarter valued at $130,000. 64.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods cut American Financial Group from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $164.00 to $144.00 in a research report on Friday, February 7th.

Insider Buying and Selling at American Financial Group

In other news, Director Gregory G. Joseph acquired 3,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was purchased at an average cost of $121.00 per share, for a total transaction of $363,000.00. Following the acquisition, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 14.50% of the stock is currently owned by company insiders.

American Financial Group Stock Performance

Shares of AFG stock opened at $127.85 on Thursday. The firm’s 50 day moving average is $128.37 and its 200 day moving average is $133.89. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.31. American Financial Group, Inc. has a 12 month low of $118.97 and a 12 month high of $150.19. The stock has a market capitalization of $10.74 billion, a P/E ratio of 12.10 and a beta of 0.79.

American Financial Group (NYSE:AFG) last announced its quarterly earnings results 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 net margin of 10.66% and a return on equity of 20.30%. On average, sell-side analysts anticipate that American Financial Group, Inc. will post 10.5 earnings per share for the current year.

American Financial Group Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 17th will be issued a $2.00 dividend. The ex-dividend date is Monday, March 17th. American Financial Group’s payout ratio is currently 30.27%.

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.