State Treasurer State of Michigan lowered its position in shares of American Financial Group Inc (NYSE:AFG) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,690 shares of the insurance provider’s stock after selling 1,100 shares during the quarter. State Treasurer State of Michigan’s holdings in American Financial Group were worth $2,680,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. Cerebellum GP LLC acquired a new stake in shares of American Financial Group during the fourth quarter worth approximately $111,000. Dai Ichi Life Insurance Company Ltd acquired a new stake in shares of American Financial Group during the third quarter worth approximately $201,000. Strategic Global Advisors LLC acquired a new stake in shares of American Financial Group during the third quarter worth approximately $207,000. Checchi Capital Advisers LLC acquired a new stake in shares of American Financial Group during the third quarter worth approximately $211,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of American Financial Group during the third quarter worth approximately $211,000. Institutional investors own 60.38% of the company’s stock.
In related news, Director Virginia Drosos sold 1,438 shares of American Financial Group stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $104.21, for a total transaction of $149,853.98. Following the sale, the director now directly owns 8,034 shares in the company, valued at $837,223.14. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Carl H. Lindner III sold 150,000 shares of American Financial Group stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $104.71, for a total transaction of $15,706,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,438 shares of company stock worth $21,663,214. Company insiders own 14.90% of the company’s stock.
American Financial Group (NYSE:AFG) last announced its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.53. American Financial Group had a net margin of 6.92% and a return on equity of 11.10%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the company posted $1.98 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. equities analysts expect that American Financial Group Inc will post 8.2 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 25th. Investors of record on Monday, January 15th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Thursday, January 11th. American Financial Group’s dividend payout ratio is currently 26.42%.
A number of research firms have commented on AFG. ValuEngine raised shares of American Financial Group from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of American Financial Group from a “hold” rating to a “buy” rating and set a $123.00 price objective for the company in a report on Thursday, January 18th. Bank of America lifted their price objective on shares of American Financial Group from $120.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Finally, Sandler O’Neill reaffirmed a “buy” rating and issued a $119.00 price objective on shares of American Financial Group in a report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $116.75.
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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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