BlackRock Inc. lifted its stake in American Financial Group Inc (NYSE:AFG) by 1.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,522,844 shares of the insurance provider’s stock after buying an additional 106,080 shares during the period. BlackRock Inc. owned about 7.33% of American Financial Group worth $731,993,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Prana Capital Management LP acquired a new position in shares of American Financial Group in the 4th quarter worth approximately $8,451,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of American Financial Group in the 4th quarter worth approximately $3,115,000. Guggenheim Capital LLC raised its holdings in shares of American Financial Group by 37.3% in the 4th quarter. Guggenheim Capital LLC now owns 117,124 shares of the insurance provider’s stock worth $12,712,000 after buying an additional 31,822 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of American Financial Group by 10.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 5,785 shares of the insurance provider’s stock worth $628,000 after buying an additional 551 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of American Financial Group by 89.1% in the 4th quarter. First Trust Advisors LP now owns 200,734 shares of the insurance provider’s stock worth $21,788,000 after buying an additional 94,603 shares in the last quarter. 61.36% of the stock is owned by institutional investors and hedge funds.
AFG has been the subject of a number of recent research reports. Zacks Investment Research raised American Financial Group from a “hold” rating to a “buy” rating and set a $124.00 target price for the company in a report on Thursday, April 12th. ValuEngine cut American Financial Group from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. American Financial Group currently has a consensus rating of “Hold” and a consensus price target of $117.00.
American Financial Group (NYSE:AFG) last released its quarterly earnings results on Wednesday, May 2nd. The insurance provider reported $2.42 EPS for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.44. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.14 billion. American Financial Group had a return on equity of 12.37% and a net margin of 6.76%. American Financial Group’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.69 EPS. analysts forecast that American Financial Group Inc will post 8.43 earnings per share for the current fiscal year.
The firm also recently declared a None dividend, which was paid on Friday, May 25th. Investors of record on Tuesday, May 15th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, May 14th. This represents a yield of 1.26%. American Financial Group’s dividend payout ratio (DPR) is presently 21.37%.
In other American Financial Group news, insider John B. Berding sold 5,285 shares of the stock in a transaction on Thursday, March 22nd. The stock was sold at an average price of $113.58, for a total value of $600,270.30. Following the transaction, the insider now directly owns 59,585 shares in the company, valued at approximately $6,767,664.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Terry S. Jacobs sold 864 shares of the stock in a transaction on Friday, June 1st. The shares were sold at an average price of $110.41, for a total value of $95,394.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 136,149 shares of company stock worth $15,025,365. 13.70% of the stock is owned by corporate insiders.
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.
Receive News & Ratings for American Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.