Daiwa Securities Group Inc. acquired a new stake in American Financial Group, Inc. (NYSE:AFG) during the second quarter, Holdings Channel reports. The fund acquired 2,250 shares of the insurance provider’s stock, valued at approximately $224,000.
Several other hedge funds have also modified their holdings of the company. Bessemer Group Inc. acquired a new stake in shares of American Financial Group during the second quarter valued at $155,000. Great West Life Assurance Co. Can boosted its stake in shares of American Financial Group by 36.8% in the second quarter. Great West Life Assurance Co. Can now owns 60,959 shares of the insurance provider’s stock valued at $6,050,000 after buying an additional 16,386 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of American Financial Group by 1.9% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,210 shares of the insurance provider’s stock valued at $220,000 after buying an additional 42 shares in the last quarter. Moody Lynn & Lieberson LLC boosted its stake in shares of American Financial Group by 4.2% in the second quarter. Moody Lynn & Lieberson LLC now owns 5,517 shares of the insurance provider’s stock valued at $548,000 after buying an additional 224 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD acquired a new stake in shares of American Financial Group during the second quarter valued at $501,000. 62.86% of the stock is currently owned by institutional investors.
Shares of American Financial Group, Inc. (NYSE AFG) opened at 101.66 on Friday. The company has a 50 day moving average of $102.00 and a 200 day moving average of $97.62. American Financial Group, Inc. has a 52 week low of $73.38 and a 52 week high of $105.58. The company has a market cap of $8.95 billion, a PE ratio of 11.46 and a beta of 0.83.
American Financial Group (NYSE:AFG) last announced its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.31. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.12 billion. American Financial Group had a net margin of 11.89% and a return on equity of 11.66%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 EPS. On average, analysts expect that American Financial Group, Inc. will post $6.80 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Friday, July 14th were issued a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Wednesday, July 12th. American Financial Group’s dividend payout ratio (DPR) is presently 14.06%.
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Several brokerages recently weighed in on AFG. Zacks Investment Research raised shares of American Financial Group from a “hold” rating to a “buy” rating and set a $117.00 price objective on the stock in a research note on Monday, August 7th. BidaskClub cut shares of American Financial Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th.
In other American Financial Group news, CEO Carl H. Lindner III sold 95,405 shares of the firm’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $98.68, for a total value of $9,414,565.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michelle A. Gillis sold 2,051 shares of the firm’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 approximately $1,881,442.32. The disclosure for this sale can be found here. In the last three months, insiders sold 327,169 shares of company stock worth $32,890,665. Insiders own 14.90% of the company’s stock.
American Financial Group Company 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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