Commonwealth Bank of Australia increased its position in shares of American Financial Group Inc (NYSE:AFG) by 6.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,435 shares of the insurance provider’s stock after buying an additional 700 shares during the quarter. Commonwealth Bank of Australia’s holdings in American Financial Group were worth $1,264,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can grew its stake in American Financial Group by 21.8% during the 2nd quarter. Great West Life Assurance Co. Can now owns 83,036 shares of the insurance provider’s stock worth $8,917,000 after buying an additional 14,859 shares during the last quarter. Pensionfund Sabic purchased a new position in American Financial Group during the 3rd quarter worth approximately $1,554,000. MetLife Investment Advisors LLC grew its stake in American Financial Group by 1.3% during the 2nd quarter. MetLife Investment Advisors LLC now owns 43,599 shares of the insurance provider’s stock worth $4,679,000 after buying an additional 556 shares during the last quarter. Legal & General Group Plc grew its stake in American Financial Group by 6.9% during the 2nd quarter. Legal & General Group Plc now owns 189,259 shares of the insurance provider’s stock worth $20,313,000 after buying an additional 12,134 shares during the last quarter. Finally, Alps Advisors Inc. grew its stake in American Financial Group by 146.0% during the 2nd quarter. Alps Advisors Inc. now owns 4,693 shares of the insurance provider’s stock worth $509,000 after buying an additional 2,785 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.
In other American Financial Group news, CEO Carl H. Lindner III sold 181,000 shares of the stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $113.49, for a total transaction of $20,541,690.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.90% of the stock is currently owned by company insiders.
American Financial Group (NYSE:AFG) last posted its quarterly earnings data on Tuesday, October 30th. The insurance provider reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.31. American Financial Group had a return on equity of 15.39% and a net margin of 9.98%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period last year, the firm earned $1.06 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, research analysts forecast that American Financial Group Inc will post 8.6 EPS for the current year.
The business also recently disclosed a special dividend, which will be paid on Monday, November 26th. Shareholders of record on Friday, November 16th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Thursday, November 15th. American Financial Group’s payout ratio is 24.43%.
A number of research analysts recently issued reports on the company. Zacks Investment Research restated a “buy” rating and set a $115.00 price target on shares of American Financial Group in a research note on Monday, November 12th. ValuEngine cut American Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $118.67.
American Financial Group Profile
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.
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