6,838 Shares in American Financial Group, Inc. (AFG) Purchased by Westpac Banking Corp

Westpac Banking Corp purchased a new stake in American Financial Group, Inc. (NYSE:AFG) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,838 shares of the insurance provider’s stock, valued at approximately $679,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Swiss National Bank lifted its position in American Financial Group by 136.3% in the second quarter. Swiss National Bank now owns 271,300 shares of the insurance provider’s stock valued at $26,959,000 after acquiring an additional 156,500 shares during the last quarter. Principal Financial Group Inc. lifted its position in American Financial Group by 7.9% in the second quarter. Principal Financial Group Inc. now owns 620,201 shares of the insurance provider’s stock valued at $61,629,000 after acquiring an additional 45,232 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in American Financial Group by 2,245.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,568 shares of the insurance provider’s stock valued at $6,217,000 after acquiring an additional 59,900 shares during the last quarter. Pacer Advisors Inc. lifted its position in American Financial Group by 11.4% in the second quarter. Pacer Advisors Inc. now owns 11,546 shares of the insurance provider’s stock valued at $1,147,000 after acquiring an additional 1,179 shares during the last quarter. Finally, Utah Retirement Systems lifted its position in American Financial Group by 3.2% in the second quarter. Utah Retirement Systems now owns 12,903 shares of the insurance provider’s stock valued at $1,282,000 after acquiring an additional 400 shares during the last quarter. 62.66% of the stock is owned by hedge funds and other institutional investors.

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American Financial Group, Inc. (NYSE:AFG) opened at 100.31 on Wednesday. The firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of 11.31 and a beta of 0.84. American Financial Group, Inc. has a 1-year low of $73.38 and a 1-year high of $105.58. The firm has a 50-day moving average of $102.03 and a 200-day moving average of $98.67.

American Financial Group (NYSE:AFG) last posted its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.31. American Financial Group had a net margin of 11.89% and a return on equity of 11.66%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the firm posted $1.28 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts expect that American Financial Group, Inc. will post $6.77 earnings per share for the current year.

A number of equities research analysts recently weighed in on AFG shares. BidaskClub raised shares of American Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Zacks Investment Research lowered shares of American Financial Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $98.33.

In related news, CEO S Craig Lindner sold 25,000 shares of American Financial Group stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $104.27, for a total value of $2,606,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michelle A. Gillis sold 2,051 shares of American Financial Group stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $104.88, for a total transaction of $215,108.88. Following the completion of the sale, the insider now owns 17,939 shares in the company, valued at $1,881,442.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 143,320 shares of company stock worth $14,690,115. Insiders own 13.70% of the company’s stock.

American Financial Group Profile

American Financial Group, Inc (AFG) is a holding company engaged primarily in property and casualty insurance businesses. The Company, through Great American Insurance Group, focuses on commercial products for businesses, and is engaged in the sale of fixed and fixed-indexed annuities in the retail, financial institutions and education markets.

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

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