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AFG American Financial

American Financial Group, Inc. is an American financial services holding company based in Cincinnati, Ohio. Its primary businesses are insurance and investments. American Financial Group's major insurance division operates as the Great American Insurance Company, founded in 1872, and focuses on property and casualty insurance services. Other affiliates and subsidiaries include Great American Custom, Mid-Continent Group, National Interstate, and Republic Indemnity. Additional insurance specialties include equine, trucking, executive liability, fidelity and crime, and agribusiness. Great American Financial Resources is a wholly owned subsidiary of American Financial Group and supplies a range of annuities, life insurance products and supplemental insurances to individuals and enterprises.

Company profile

Ticker
AFG, AFGC, AFGD, AFGE, AFGB
Exchange
Website
CEO
Stephen Craig Lindner / Carl Henry Lindner
Employees
Incorporated
Location
Fiscal year end
Former names
AMERICAN FINANCIAL GROUP HOLDINGS INC
SEC CIK
IRS number
311544320

AFG stock data

(
)

Investment data

Data from SEC filings
Top 50 of 101 long holdings
End of quarter 31 Dec 20
Value
 
#Shares
 
Prev Q
 
Change
%, QoQ
$52.95M 484.97K 484.97K 0
$41.78M 1.37M 1.4M -2.2
$37.1M 1.78M 1.78M 0
$28.3M 1.91M 1.91M 0
$23.81M 1.33M 1.33M 0
$23.09M 1.23M NEW
$21.86M 320K 320K 0
$19.42M 315K 715K -55.9
$17.29M 599.99K 599.99K 0
$16.28M 105.73K 105.73K 0
$13.63M 365.78K 1.22M -69.9
$12.84M 2.08M 2.08M 0
$12.43M 400K 720K -44.4
$12.11M 666.23K 666.23K 0
$11.66M 175.5K 175.5K 0
$11.59M 2.83M 2.83M 0
$11.55M 1.62M 1.62M 0
$10.85M 207K 207K 0
$10.03M 106.92K 106.92K 0
$9.44M 482K 482K 0
$8.54M 490K 1.49M -67.1
$8.23M 350K NEW
$7.91M 190K 490K -61.2
$6.95M 843K 843K 0
$6.73M 540.35K 620.35K -12.9
$6.56M 930.11K 930.11K 0
$5.99M 939.6K 1.24M -24.2
$5.95M 197K 272K -27.6
$5.77M 175K NEW
$5.75M 230K 230K 0
$5.66M 984.19K 984.19K 0
$5.29M 262.92K 302.92K -13.2
$4.23M 1.12M 1.12M 0
$4.18M 299.5K NEW
$3.84M 1.42M 1.42M 0
$3.81M 110K 110K 0
$3.75M 200K NEW
$3.72M 60K 60K 0
$3.7M 110K 110K 0
$3.69M 350K 350K 0
$3.67M 317.7K 317.7K 0
$3.54M 186.5K 620.06K -69.9
$3.22M 113.7K 113.7K 0
$3.14M 1.27M 1.27M 0
$3.05M 133.33K 133.33K 0
$2.99M 374K 374K 0
$2.91M 50K 50K 0
$2.88M 76.57K 76.57K 0
$2.85M 188.57K 188.57K 0
$2.79M 200K 200K 0
Holdings list only includes long positions. Only includes long positions.

Calendar

24 Feb 21
22 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 2.81B 2.81B 2.81B 2.81B 2.81B 2.81B
Cash burn (monthly) 312.33M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 1.17B n/a n/a n/a n/a n/a
Cash remaining 1.64B n/a n/a n/a n/a n/a
Runway (months of cash) 5.3 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
18 Mar 21 Von Lehman John I Common Stock Sell Dispose S No No 119.0982 1,264 150.54K 11,910
18 Mar 21 Lindner S Craig Phantom Stock Common Stock Discretionary Dispose I No No 118.5 35,662 4.23M 0
23 Feb 21 Lindner Carl H Iii Common Stock Grant Aquire A Yes No 0 13,498 0 2,087,917
23 Feb 21 Michelle A Gillis Common Stock Grant Aquire A No No 0 2,880 0 43,410.38
23 Feb 21 Brian S. Hertzman Common Stock Grant Aquire A No No 0 2,565 0 9,615
22 Feb 21 Lindner Carl H Iii Common Stock Payment of exercise Dispose F Yes No 109.09 7,093 773.78K 2,074,419
22 Feb 21 Michelle A Gillis Common Stock Payment of exercise Dispose F No No 109.09 1,286 140.29K 40,530.38
22 Feb 21 Brian S. Hertzman Common Stock Payment of exercise Dispose F No No 109.09 501 54.65K 7,050

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

64.6% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 367 337 +8.9%
Opened positions 63 31 +103.2%
Closed positions 33 54 -38.9%
Increased positions 83 107 -22.4%
Reduced positions 159 137 +16.1%
13F shares
Current Prev Q Change
Total value 4.89B 3.74B +30.9%
Total shares 55.84M 55.79M +0.1%
Total puts 74.6K 116.8K -36.1%
Total calls 34.3K 143.5K -76.1%
Total put/call ratio 2.2 0.8 +167.2%
Largest owners
Shares Value Change
Vanguard 7.35M $644.37M +0.0%
BLK Blackrock 6.41M $561.75M -4.1%
Victory Capital Management 4.04M $353.97M -0.6%
LSV Asset Management 3.15M $276.33M -2.1%
STT State Street 2.75M $240.91M -7.0%
American Financial Group Inc 401 2.72M $238.37M -0.7%
FMR 1.96M $171.5M +177.3%
Dimensional Fund Advisors 1.38M $121.02M -1.8%
GS Goldman Sachs 1.3M $114.06M -8.8%
Lomas Capital Management 1.09M $95.71M +72.9%
Largest transactions
Shares Bought/sold Change
FMR 1.96M +1.25M +177.3%
Norges Bank 843.23K +843.23K NEW
Lomas Capital Management 1.09M +460.51K +72.9%
PRU Prudential Financial 844.96K +366.2K +76.5%
Millennium Management 251.71K -304.7K -54.8%
BLK Blackrock 6.41M -272.83K -4.1%
Renaissance Technologies 70.5K -263.52K -78.9%
D. E. Shaw & Co. 225.27K -254.18K -53.0%
ExodusPoint Capital Management 0 -226.07K EXIT
STT State Street 2.75M -207.73K -7.0%

Financial report summary

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Risks
  • General economic, financial market and political conditions and conditions in the markets in which we operate may materially adversely affect our investment portfolio, results of operations, financial condition and stock price.
  • A significant majority of AFG’s investment portfolio consists of fixed maturity investments, and changes in global economic conditions, including interest rates, could have a material adverse effect on AFG’s results of operations and financial condition.
  • AFG’s alternative investments may be illiquid and volatile in terms of value and returns, which could negatively affect AFG’s investment income and liquidity.
  • Changes in interest rates could adversely affect the results of operations of AFG’s annuity segment.
  • The modification or elimination of the London Inter-Bank Offered Rate may adversely affect AFG’s results of operations.
  • Adverse developments in the financial markets may limit AFG’s access to capital.
  • Intense competition could adversely affect AFG’s results of operations.
  • The continued threat of terrorism and ongoing military and other actions, as well as civil unrest, may adversely affect AFG’s results of operations.
  • AFG’s results of operations could be adversely impacted by catastrophes, both natural and man-made, pandemics or severe weather conditions or climate change.
  • Volatility in crop prices, as a result of weather conditions, climate change or otherwise, could adversely impact AFG’s results of operations.
  • Changing climate conditions may increase the frequency and severity of catastrophic events and thereby adversely affect our financial condition and results.
  • AFG may experience difficulties with technology or data security, which could have an adverse effect on its business or reputation.
  • Any failure to appropriately collect, administer and protect consumer information could adversely affect AFG’s reputation, subject AFG to fines, claims and penalties, and have a material adverse effect on AFG’s business, financial condition and results of operations.
  • AFG’s international operations exposes it to investment, political and economic risks, including foreign currency and credit risk.
  • Ineffective risk management policies in the indexed annuity business could adversely affect AFG’s results of operations.
  • A significant percentage of AFG’s sales of annuity products through financial institutions is concentrated in a small number of institutions.
  • AFG’s revenues could be adversely affected if it is not able to attract and retain independent agents.
  • Exposure to asbestos or environmental claims could materially adversely affect AFG’s results of operations and financial condition.
  • AFG may suffer losses from litigation, which could materially and adversely affect AFG’s financial condition and business operations.
  • A downgrade or potential downgrade in AFG’s financial strength and/or credit ratings by one or more rating agencies could adversely affect its business, financial condition, results of operations and/or cash flows.
  • The inability to obtain reinsurance or to collect on ceded reinsurance could adversely affect AFG’s results of operations.
  • AFG’s property and casualty reserves may be inadequate, which could have a material adverse effect on AFG’s results of operations.
  • Variations from the actuarial assumptions used to establish certain assets and liabilities in AFG’s annuity business could adversely affect AFG’s results of operations.
  • AFG is subject to comprehensive regulation, and its ability to earn profits may be restricted by these regulations.
  • As a holding company, AFG is dependent on the operations of its insurance company subsidiaries to meet its obligations and pay future dividends.
  • Changes to existing accounting standards could adversely impact AFG’s reported results of operations.
  • Certain shareholders exercise substantial control over AFG’s affairs, which may impede a change of control transaction.
  • The price of AFG Common Stock may fluctuate significantly, which may make it difficult for holders to resell common stock when they want or at a price they find attractive.
Management Discussion
  • Through the operations of its subsidiaries, AFG is engaged primarily in property and casualty insurance, focusing on specialized commercial products for businesses, and in the sale of traditional fixed and indexed annuities in the retail, financial institutions, broker-dealer and registered investment advisor markets.
  • AFG reported fourth quarter 2020 net earnings attributable to shareholders of $692 million ($7.93 per share, diluted) compared to $211 million ($2.31 per share, diluted) in the fourth quarter of 2019, reflecting:
  • •higher interest charges on borrowed money.
Content analysis
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Uncertain
Constraining
Legalese
Litigous
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H.S. senior Avg
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