USA Financial Portformulas Corp increased its stake in shares of American Financial Group, Inc. (NYSE:AFG) by 7.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,780 shares of the insurance provider’s stock after buying an additional 406 shares during the quarter. USA Financial Portformulas Corp’s holdings in American Financial Group were worth $574,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Acrospire Investment Management LLC lifted its position in shares of American Financial Group by 153.6% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,321 shares of the insurance provider’s stock worth $131,000 after buying an additional 800 shares during the period. Bessemer Group Inc. bought a new position in shares of American Financial Group during the 2nd quarter worth approximately $155,000. TLP Group LLC bought a new position in shares of American Financial Group during the 2nd quarter worth approximately $194,000. ETRADE Capital Management LLC bought a new position in shares of American Financial Group during the 2nd quarter worth approximately $216,000. Finally, Gilbert & Cook Inc. bought a new position in shares of American Financial Group during the 2nd quarter worth approximately $220,000. Institutional investors and hedge funds own 62.28% of the company’s stock.
American Financial Group, Inc. (NYSE AFG) traded up 0.38% during midday trading on Wednesday, reaching $104.54. The company had a trading volume of 28,614 shares. The firm has a 50-day moving average of $102.20 and a 200-day moving average of $100.10. The stock has a market cap of $9.20 billion, a P/E ratio of 11.78 and a beta of 0.84. American Financial Group, Inc. has a 12 month low of $73.38 and a 12 month high of $106.44.
American Financial Group (NYSE:AFG) last released its earnings results on Tuesday, August 1st. The insurance provider reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.31. American Financial Group had a return on equity of 11.66% and a net margin of 11.89%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the company earned $1.28 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities analysts expect that American Financial Group, Inc. will post $5.97 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Friday, October 13th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, October 12th. This is a boost from American Financial Group’s previous quarterly dividend of $0.31. This represents a $1.40 annualized dividend and a yield of 1.34%. American Financial Group’s dividend payout ratio is presently 15.75%.
In other American Financial Group news, insider Michelle A. Gillis sold 2,051 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was 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 directly owns 17,939 shares in the company, valued at $1,881,442.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO S Craig Lindner sold 25,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $104.27, for a total value of $2,606,750.00. The disclosure for this sale can be found here. 13.70% of the stock is owned by corporate insiders.
Several equities analysts recently commented on the company. Zacks Investment Research downgraded American Financial Group from a “buy” rating to a “sell” rating in a research report on Tuesday, October 3rd. Buckingham Research assumed coverage on American Financial Group in a research report on Monday, September 11th. They set a “neutral” rating and a $103.00 target price for the company. Finally, BidaskClub downgraded American Financial Group from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $100.67.
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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.
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