Gateway Investment Advisers LLC lessened its stake in American Financial Group Inc (NYSE:AFG) by 62.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,099 shares of the insurance provider’s stock after selling 45,984 shares during the quarter. Gateway Investment Advisers LLC’s holdings in American Financial Group were worth $2,923,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in AFG. BlackRock Inc. increased its holdings in American Financial Group by 2.6% during the 2nd quarter. BlackRock Inc. now owns 8,588,773 shares of the insurance provider’s stock valued at $880,093,000 after acquiring an additional 219,643 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in shares of American Financial Group in the second quarter worth approximately $1,228,000. State of Alaska Department of Revenue boosted its position in shares of American Financial Group by 1.9% in the second quarter. State of Alaska Department of Revenue now owns 12,782 shares of the insurance provider’s stock worth $1,309,000 after acquiring an additional 234 shares during the last quarter. Usca Ria LLC acquired a new stake in shares of American Financial Group in the second quarter worth approximately $2,811,000. Finally, BNP Paribas Arbitrage SA boosted its position in shares of American Financial Group by 63.0% in the second quarter. BNP Paribas Arbitrage SA now owns 189,511 shares of the insurance provider’s stock worth $19,419,000 after acquiring an additional 73,212 shares during the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.
AFG stock traded up $1.48 during trading on Friday, hitting $110.52. 436,884 shares of the company’s stock traded hands, compared to its average volume of 351,655. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.23. American Financial Group Inc has a 52 week low of $84.18 and a 52 week high of $110.65. The stock has a fifty day moving average price of $104.67 and a two-hundred day moving average price of $102.89. The stock has a market capitalization of $9.60 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 2.28 and a beta of 0.83.
American Financial Group (NYSE:AFG) last announced its quarterly earnings results on Tuesday, October 29th. The insurance provider reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.30. American Financial Group had a net margin of 8.43% and a return on equity of 13.26%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the company posted $2.19 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, equities research analysts expect that American Financial Group Inc will post 8.6 EPS for the current fiscal year.
The company also recently declared a None dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 15th will be issued a dividend of $1.80 per share. This is an increase from American Financial Group’s previous None dividend of $1.00. The ex-dividend date of this dividend is Thursday, November 14th. American Financial Group’s payout ratio is 21.43%.
A number of brokerages have weighed in on AFG. Zacks Investment Research raised shares of American Financial Group from a “sell” rating to a “hold” rating and set a $108.00 price target on the stock in a research report on Wednesday, August 14th. ValuEngine raised shares of American Financial Group from a “sell” rating to a “hold” rating in a research report on Friday.
In other American Financial Group news, CEO Carl H. Lindner III sold 117,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $104.11, for a total value of $12,180,870.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO S Craig Lindner sold 15,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $108.64, for a total transaction of $1,629,600.00. Insiders sold 157,659 shares of company stock valued at $16,533,319 in the last ninety days. Corporate insiders own 11.90% of the company’s stock.
American Financial Group Profile
American Financial Group, Inc, an insurance holding company, provides property and casualty insurance products in the United States. The company operates through three segments: Property and Casualty Insurance, Annuity, and Other. 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; specialty casualty insurance, including primarily excess and surplus, general liability, executive liability, professional liability, umbrella and excess liability, and specialty coverage in targeted markets, as well as customized programs for small to mid-sized businesses and workers' compensation insurance; and specialty financial insurance products comprising risk management insurance programs for leasing and financing institutions, surety and fidelity products, and trade credit insurance.
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