American Financial Group Inc (AFG) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC cut its stake in American Financial Group Inc (NYSE:AFG) by 7.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,110 shares of the insurance provider’s stock after selling 657 shares during the quarter. Wedge Capital Management L L P NC’s holdings in American Financial Group were worth $900,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AFG. BlackRock Inc. increased its holdings in shares of American Financial Group by 11.7% in the 2nd quarter. BlackRock Inc. now owns 7,286,536 shares of the insurance provider’s stock valued at $782,062,000 after acquiring an additional 763,692 shares during the period. Cornerstone Wealth Management LLC increased its holdings in shares of American Financial Group by 11,113.9% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 230,446 shares of the insurance provider’s stock valued at $2,181,000 after acquiring an additional 228,391 shares during the period. Wells Fargo & Company MN increased its holdings in shares of American Financial Group by 135.1% in the 2nd quarter. Wells Fargo & Company MN now owns 320,888 shares of the insurance provider’s stock valued at $34,442,000 after acquiring an additional 184,397 shares during the period. Bank of America Corp DE increased its holdings in shares of American Financial Group by 23.6% in the 2nd quarter. Bank of America Corp DE now owns 507,225 shares of the insurance provider’s stock valued at $54,440,000 after acquiring an additional 96,914 shares during the period. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of American Financial Group by 97.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 159,753 shares of the insurance provider’s stock valued at $17,146,000 after acquiring an additional 78,695 shares during the period. Institutional investors and hedge funds own 61.97% of the company’s stock.

Shares of AFG stock opened at $106.18 on Friday. American Financial Group Inc has a 1-year low of $98.22 and a 1-year high of $121.69. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.26. The firm has a market cap of $9.20 billion, a P/E ratio of 16.21, a price-to-earnings-growth ratio of 0.97 and a beta of 0.84.

American Financial Group (NYSE:AFG) last announced its earnings results on Tuesday, October 30th. The insurance provider reported $2.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.31. American Financial Group had a return on equity of 15.37% and a net margin of 9.98%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the business earned $1.06 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts forecast that American Financial Group Inc will post 8.6 earnings per share for the current fiscal year.

The firm also recently announced a special dividend, which will be paid on Monday, November 26th. Investors of record on Friday, November 16th will be paid a dividend of $1.50 per share. The ex-dividend date is Thursday, November 15th. American Financial Group’s dividend payout ratio (DPR) is 24.43%.

A number of research analysts have recently issued reports on AFG shares. ValuEngine downgraded American Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Raymond James downgraded American Financial Group from an “outperform” rating to a “market perform” rating in a report on Thursday, July 12th. Finally, Zacks Investment Research downgraded American Financial Group from a “hold” rating to a “sell” rating in a report on Monday, October 15th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $120.33.

In other American Financial Group news, CEO Carl H. Lindner III sold 119,448 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $111.58, for a total transaction of $13,328,007.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Carl H. Lindner III sold 181,000 shares of the business’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $113.49, for a total value of $20,541,690.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 318,169 shares of company stock worth $35,862,424. 14.90% of the stock is owned by company insiders.

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About American Financial Group

American Financial Group, Inc, through its subsidiaries, provides property and casualty insurance products in the United States. The company operates through Property and Casualty Insurance, Annuity, Run-Off Long-Term Care and Life, and Other segments. It offers property and transportation insurance products, such as physical damage and liability coverage for buses, trucks and recreational vehicles, inland and ocean marine, agricultural-related products, and other property coverages; specialty casualty insurance, including primarily excess and surplus, general liability, executive liability, professional liability, umbrella and excess liability, and specialty coverage in targeted markets and customized programs for small to mid-sized businesses; and specialty financial insurance products comprising risk management insurance programs for leasing and financing institutions, surety and fidelity products, and trade credit insurance.

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

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