Pennsylvania Trust Co Has $43.09 Million Stake in American Financial Group Inc (AFG)

Pennsylvania Trust Co lifted its holdings in shares of American Financial Group Inc (NYSE:AFG) by 6,774.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 226,856 shares of the insurance provider’s stock after acquiring an additional 223,556 shares during the quarter. American Financial Group accounts for about 1.3% of Pennsylvania Trust Co’s investment portfolio, making the stock its 13th biggest position. Pennsylvania Trust Co owned approximately 0.25% of American Financial Group worth $43,091,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AFG. Quantitative Systematic Strategies LLC boosted its stake in American Financial Group by 56.1% in the first quarter. Quantitative Systematic Strategies LLC now owns 21,556 shares of the insurance provider’s stock valued at $2,074,000 after acquiring an additional 7,746 shares during the period. Sciencast Management LP acquired a new position in American Financial Group in the first quarter valued at approximately $442,000. Louisiana State Employees Retirement System boosted its stake in American Financial Group by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the insurance provider’s stock valued at $1,818,000 after acquiring an additional 200 shares during the period. State of Alaska Department of Revenue boosted its stake in American Financial Group by 64.5% in the first quarter. State of Alaska Department of Revenue now owns 12,548 shares of the insurance provider’s stock valued at $1,206,000 after acquiring an additional 4,920 shares during the period. Finally, First Hawaiian Bank boosted its stake in American Financial Group by 6.9% in the first quarter. First Hawaiian Bank now owns 3,129 shares of the insurance provider’s stock valued at $301,000 after acquiring an additional 203 shares during the period. 64.19% of the stock is owned by hedge funds and other institutional investors.

AFG stock traded up $0.49 during midday trading on Tuesday, reaching $98.48. The company had a trading volume of 541 shares, compared to its average volume of 340,791. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.26. American Financial Group Inc has a fifty-two week low of $84.18 and a fifty-two week high of $117.50. The company has a market cap of $8.79 billion, a P/E ratio of 11.71, a PEG ratio of 1.86 and a beta of 0.88.

American Financial Group (NYSE:AFG) last issued its earnings results on Wednesday, January 30th. The insurance provider reported $1.75 EPS for the quarter, missing the Zacks’ consensus estimate of $1.84 by ($0.09). American Financial Group had a net margin of 7.41% and a return on equity of 14.92%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the firm earned $2.20 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. Analysts expect that American Financial Group Inc will post 8.62 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, April 15th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, April 12th. This represents a $1.60 annualized dividend and a dividend yield of 1.62%. American Financial Group’s dividend payout ratio is presently 19.05%.

A number of equities analysts have commented on the company. Zacks Investment Research upgraded American Financial Group from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a research note on Friday, January 18th. Keefe, Bruyette & Woods assumed coverage on American Financial Group in a research note on Thursday, January 10th. They issued a “market perform” rating and a $107.00 target price for the company.

In other news, CEO Carl H. Lindner III sold 83,436 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $98.06, for a total transaction of $8,181,734.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Carl H. Lindner III sold 74,940 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $96.08, for a total value of $7,200,235.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 168,989 shares of company stock valued at $16,427,175. Insiders own 13.70% of the company’s stock.

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About American Financial Group

American Financial Group, Inc, an insurance holding company, provides property and casualty insurance products in the United States. The company operates through three segments: Property and Casualty Insurance, Annuity, and Other. It offers property and transportation insurance products, such as physical damage and liability coverage for buses, trucks and recreational vehicles, inland and ocean marine, agricultural-related products, and other property; specialty casualty insurance, including primarily excess and surplus, general liability, executive liability, professional 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 leasing and financing institutions, surety and fidelity products, and trade credit insurance.

Further Reading: Special Dividends

Institutional Ownership by Quarter for American Financial Group (NYSE:AFG)

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