Regentatlantic Capital LLC cut its stake in American Financial Group, Inc. (NYSE:AFG) by 1.3% during the second quarter, Holdings Channel reports. The fund owned 57,046 shares of the insurance provider’s stock after selling 742 shares during the period. Regentatlantic Capital LLC’s holdings in American Financial Group were worth $5,669,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. BTIM Corp. raised its stake in shares of American Financial Group by 3.1% in the first quarter. BTIM Corp. now owns 105,104 shares of the insurance provider’s stock valued at $10,029,000 after buying an additional 3,198 shares during the last quarter. Morgan Stanley raised its stake in shares of American Financial Group by 82.9% in the first quarter. Morgan Stanley now owns 227,007 shares of the insurance provider’s stock valued at $21,662,000 after buying an additional 102,874 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of American Financial Group by 0.5% in the first quarter. Mackenzie Financial Corp now owns 6,452 shares of the insurance provider’s stock valued at $616,000 after buying an additional 30 shares during the last quarter. Creative Planning raised its stake in shares of American Financial Group by 3.1% in the first quarter. Creative Planning now owns 11,173 shares of the insurance provider’s stock valued at $1,066,000 after buying an additional 336 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of American Financial Group by 12.8% in the first quarter. Prudential Financial Inc. now owns 789,135 shares of the insurance provider’s stock valued at $75,299,000 after buying an additional 89,730 shares during the last quarter. 62.05% of the stock is owned by institutional investors.
Shares of American Financial Group, Inc. (AFG) opened at 100.73 on Thursday. American Financial Group, Inc. has a 12-month low of $71.30 and a 12-month high of $103.19. The firm’s 50-day moving average price is $100.31 and its 200 day moving average price is $95.74. The company has a market cap of $8.83 billion, a price-to-earnings ratio of 12.74 and a beta of 0.83.
American Financial Group (NYSE:AFG) last announced its quarterly earnings results on Wednesday, May 3rd. The insurance provider reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.32. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.14 billion. American Financial Group had a return on equity of 11.11% and a net margin of 10.62%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $1.25 EPS. On average, analysts predict that American Financial Group, Inc. will post $6.50 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Friday, July 14th were given a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 1.24%. The ex-dividend date was Wednesday, July 12th. American Financial Group’s dividend payout ratio is currently 15.82%.
Several analysts recently commented on AFG shares. Zacks Investment Research raised American Financial Group from a “hold” rating to a “buy” rating and set a $112.00 price objective for the company in a report on Monday, May 8th. BidaskClub lowered American Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Three equities research analysts have rated the stock with 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 target price of $92.00.
In other American Financial Group news, CEO Carl H. Lindner III sold 95,405 shares of the stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $98.68, for a total transaction of $9,414,565.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO S Craig Lindner sold 26,475 shares of the stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $99.46, for a total value of $2,633,203.50. The disclosure for this sale can be found here. Insiders have sold a total of 375,215 shares of company stock worth $37,465,772 over the last ninety days. 14.90% of the stock is owned by insiders.
About American Financial Group
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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