Swiss National Bank Cuts Stake in American Financial Group Amid Increased Institutional Interest

Swiss National Bank (SNB) reduced its holdings in American Financial Group, Inc. (AFG), selling off 36,500 shares in the first quarter. This move resulted in a decrease of 21.7% in SNB's stake in AFG. As of the most recent SEC filing, SNB owned approximately $16.86 million worth of AFG stock, which represents about 0.16% of the company's outstanding shares.

The move comes as other institutional investors have also been buying into AFG. Norges Bank acquired a new stake in AFG during the fourth quarter, valued at $114.66 million. M&T Bank Corp significantly increased its stake in AFG by 20,131.5% and now owns approximately $87 million worth of shares.

American Financial Group has seen significant institutional investment in recent quarters. The company's stock price is currently trading at around $143.51 per share, with a market capitalization of over $11.9 billion. Analysts have set a consensus price target of $150.75 for AFG, indicating potential upside from current levels.