American Financial Group Inc. (AFG) Stake Boosted by Retirement Systems of Alabama
Retirement Systems of Alabama increased its stake in American Financial Group Inc. (NYSE:AFG) by 86.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 170,617 shares of the company’s stock after buying an additional 79,059 shares during the period. Retirement Systems of Alabama owned about 0.20% of American Financial Group worth $12,614,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the company. State Street Corp raised its position in American Financial Group by 1.4% in the first quarter. State Street Corp now owns 2,189,350 shares of the company’s stock valued at $154,060,000 after buying an additional 30,672 shares in the last quarter. Norges Bank acquired a new stake in American Financial Group during the fourth quarter valued at approximately $45,385,000. Goldman Sachs Group Inc. increased its stake in American Financial Group by 21.2% in the first quarter. Goldman Sachs Group Inc. now owns 571,154 shares of the company’s stock valued at $40,192,000 after buying an additional 99,834 shares during the last quarter. Geode Capital Management LLC increased its stake in American Financial Group by 3.8% in the first quarter. Geode Capital Management LLC now owns 447,419 shares of the company’s stock valued at $31,484,000 after buying an additional 16,235 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in American Financial Group by 32.0% in the first quarter. JPMorgan Chase & Co. now owns 327,885 shares of the company’s stock valued at $23,072,000 after buying an additional 79,411 shares during the last quarter. 59.89% of the stock is owned by hedge funds and other institutional investors.
American Financial Group Inc. (NYSE:AFG) traded down 0.84% during midday trading on Monday, hitting $74.37. The company’s stock had a trading volume of 167,387 shares. The company’s 50-day moving average is $74.60 and its 200 day moving average is $72.22. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 19.01 and a beta of 0.76. American Financial Group Inc. has a one year low of $64.87 and a one year high of $76.03.
American Financial Group (NYSE:AFG) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. American Financial Group had a return on equity of 9.74% and a net margin of 5.46%. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the company earned $1.28 EPS. The business’s revenue was up 4.3% compared to the same quarter last year. On average, analysts predict that American Financial Group Inc. will post $5.70 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Friday, October 14th will be given a dividend of $0.3125 per share. This is an increase from American Financial Group’s previous quarterly dividend of $0.28. This represents a $1.25 dividend on an annualized basis and a dividend yield of 1.68%. American Financial Group’s dividend payout ratio is presently 28.57%.
Several research firms recently commented on AFG. Zacks Investment Research downgraded American Financial Group from a “hold” rating to a “sell” rating in a report on Thursday, July 14th. Sandler O’Neill upgraded American Financial Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $74.00 to $81.00 in a report on Friday, August 12th. Finally, Janney Montgomery Scott reiterated a “buy” rating on shares of American Financial Group in a report on Thursday, June 30th.
In other news, CEO Carl H. Lindner III sold 100,000 shares of the stock in a transaction on Monday, September 26th. The stock was sold at an average price of $75.14, for a total transaction of $7,514,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William W. Verity sold 2,046 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $72.97, for a total value of $149,296.62. Following the sale, the director now owns 5,549 shares of the company’s stock, valued at $404,910.53. The disclosure for this sale can be found here. Insiders own 14.90% of the company’s stock.
About American Financial Group
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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