American Financial Group, Inc. (AFG) Position Boosted by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. increased its stake in American Financial Group, Inc. (NYSE:AFG) by 35.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 913,932 shares of the insurance provider’s stock after acquiring an additional 237,195 shares during the quarter. Goldman Sachs Group Inc. owned about 1.04% of American Financial Group worth $90,817,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. increased its position in American Financial Group by 10,325.5% during the 1st quarter. BlackRock Inc. now owns 5,915,732 shares of the insurance provider’s stock valued at $564,476,000 after purchasing an additional 5,858,989 shares during the period. Vanguard Group Inc. lifted its position in shares of American Financial Group by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 6,517,519 shares of the insurance provider’s stock worth $621,902,000 after purchasing an additional 431,262 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of American Financial Group in the 2nd quarter worth approximately $20,516,000. Prudential Financial Inc. lifted its position in shares of American Financial Group by 20.5% in the 2nd quarter. Prudential Financial Inc. now owns 950,796 shares of the insurance provider’s stock worth $94,480,000 after purchasing an additional 161,661 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of American Financial Group by 1,764.0% in the 2nd quarter. Renaissance Technologies LLC now owns 165,900 shares of the insurance provider’s stock worth $16,485,000 after purchasing an additional 157,000 shares during the period. 62.33% of the stock is currently owned by institutional investors.
AFG has been the subject of several recent analyst reports. Zacks Investment Research cut shares of American Financial Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Buckingham Research started coverage on shares of American Financial Group in a report on Monday, September 11th. They issued a “neutral” rating and a $103.00 target price on the stock. Finally, BidaskClub raised shares of American Financial Group from a “hold” rating to a “buy” rating in a research report on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $100.67.
Shares of American Financial Group, Inc. (AFG) traded down 0.29% during trading on Wednesday, reaching $104.95. The company’s stock had a trading volume of 55,903 shares. The stock’s 50 day moving average price is $101.63 and its 200-day moving average price is $99.47. American Financial Group, Inc. has a 52-week low of $73.38 and a 52-week high of $105.58. The stock has a market cap of $9.24 billion, a price-to-earnings ratio of 11.83 and a beta of 0.84.
American Financial Group (NYSE:AFG) last posted its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $1.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.31. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.12 billion. American Financial Group had a net margin of 11.89% and a return on equity of 11.66%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.28 earnings per share. Equities analysts anticipate that American Financial Group, Inc. will post $6.77 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Friday, October 13th will be paid a $0.35 dividend. This is a positive change from American Financial Group’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.33%. American Financial Group’s dividend payout ratio (DPR) is 10.57%.
In other news, insider Michelle A. Gillis sold 2,051 shares of the stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $104.88, for a total value of $215,108.88. Following the transaction, the insider now directly owns 17,939 shares of the company’s stock, valued at $1,881,442.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO S Craig Lindner sold 25,000 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $104.27, for a total value of $2,606,750.00. The disclosure for this sale can be found here. Company insiders own 13.70% of the company’s stock.
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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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