Korea Investment CORP Cuts Stock Holdings in American Financial Group, Inc. (NYSE:AFG)

Korea Investment CORP lessened its holdings in American Financial Group, Inc. (NYSE:AFG) by 8.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,088 shares of the insurance provider’s stock after selling 2,600 shares during the quarter. Korea Investment CORP’s holdings in American Financial Group were worth $3,983,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its stake in shares of 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 purchasing an additional 158 shares during the period. Jones Financial Companies Lllp boosted its holdings in American Financial Group by 91.2% during the fourth quarter. Jones Financial Companies Lllp now owns 520 shares of the insurance provider’s stock worth $71,000 after buying an additional 248 shares in the last quarter. Allworth Financial LP grew its position in American Financial Group by 301.1% during the fourth quarter. Allworth Financial LP now owns 702 shares of the insurance provider’s stock worth $94,000 after buying 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 about $125,000. Finally, GAMMA Investing LLC lifted its position in shares of American Financial Group by 31.6% during the 4th quarter. GAMMA Investing LLC now owns 1,059 shares of the insurance provider’s stock valued at $145,000 after acquiring an additional 254 shares during the period. Hedge funds and other institutional investors own 64.37% of the company’s stock.

Insider Activity at American Financial Group

In other news, Director Gregory G. Joseph purchased 3,000 shares of the stock in a transaction dated Thursday, February 20th. The stock was acquired at an average cost of $121.00 per share, for a total transaction of $363,000.00. Following the completion of the acquisition, the director now directly owns 57,477 shares in the company, valued at $6,954,717. This represents a 5.51 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 14.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

American Financial Group Stock Performance

NYSE:AFG opened at $132.19 on Wednesday. American Financial Group, Inc. has a twelve month low of $118.97 and a twelve month high of $150.19. The company has a market capitalization of $11.10 billion, a P/E ratio of 12.51 and a beta of 0.79. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $127.93 and a two-hundred day moving average price of $133.77.

American Financial Group (NYSE:AFG) last issued its quarterly earnings data on Tuesday, February 4th. The insurance provider reported $3.12 earnings per share (EPS) 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, research analysts expect that American Financial Group, Inc. will post 10.5 earnings per share for the current fiscal year.

American Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Tuesday, April 15th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.42%. American Financial Group’s dividend payout ratio is presently 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.