PNC Financial Services Group Inc. Grows Stock Holdings in American Financial Group, Inc. (NYSE:AFG)

PNC Financial Services Group Inc. increased its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 4.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,660 shares of the insurance provider’s stock after acquiring an additional 147 shares during the period. PNC Financial Services Group Inc.’s holdings in American Financial Group were worth $501,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Callan Family Office LLC purchased a new stake in American Financial Group during the fourth quarter worth about $264,000. Raymond James Financial Inc. purchased a new stake in American Financial Group during the fourth quarter worth about $2,875,000. Arizona State Retirement System boosted its holdings in American Financial Group by 1.4% during the fourth quarter. Arizona State Retirement System now owns 20,714 shares of the insurance provider’s stock worth $2,836,000 after buying an additional 290 shares in the last quarter. Verdence Capital Advisors LLC boosted its holdings in American Financial Group by 20.6% during the fourth quarter. Verdence Capital Advisors LLC now owns 2,533 shares of the insurance provider’s stock worth $347,000 after buying an additional 433 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in American Financial Group during the fourth quarter worth about $5,127,000. Hedge funds and other institutional investors own 64.37% of the company’s stock.

American Financial Group Stock Down 0.4 %

Shares of NYSE AFG opened at $125.01 on Thursday. American Financial Group, Inc. has a 12-month low of $118.97 and a 12-month high of $150.19. The company has a market capitalization of $10.50 billion, a PE ratio of 11.83 and a beta of 0.79. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.53 and a quick ratio of 0.53. The firm’s 50-day moving average is $128.96 and its two-hundred day moving average is $134.12.

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 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%. Equities analysts anticipate that American Financial Group, Inc. will post 10.5 EPS for the current fiscal year.

American Financial Group Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 17th will be given a $2.00 dividend. The ex-dividend date of this dividend is Monday, March 17th. American Financial Group’s dividend payout ratio is presently 30.27%.

Analyst Ratings Changes

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

Insider Activity

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 acquired at an average price of $121.00 per share, with a total value of $363,000.00. Following the completion of the transaction, the director now directly owns 57,477 shares in the company, valued at approximately $6,954,717. This represents a 5.51 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 14.50% of the company’s stock.

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.