New Mexico Educational Retirement Board acquired a new stake in American Financial Group Inc (NYSE:AFG) during the 4th quarter, HoldingsChannel reports. The firm acquired 17,000 shares of the insurance provider’s stock, valued at approximately $1,845,000.
A number of other institutional investors also recently added to or reduced their stakes in AFG. The Manufacturers Life Insurance Company increased its stake in American Financial Group by 2.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 108,917 shares of the insurance provider’s stock valued at $10,823,000 after buying an additional 2,982 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in American Financial Group by 3.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 5,979 shares of the insurance provider’s stock valued at $594,000 after buying an additional 198 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in American Financial Group in the 2nd quarter valued at approximately $462,000. Lord Abbett & CO. LLC acquired a new position in American Financial Group in the 2nd quarter valued at approximately $4,879,000. Finally, Achmea Investment Management B.V. acquired a new position in American Financial Group in the 2nd quarter valued at approximately $235,000. Hedge funds and other institutional investors own 60.38% of the company’s stock.
American Financial Group Inc (AFG) opened at $112.12 on Friday. American Financial Group Inc has a 12 month low of $92.45 and a 12 month high of $121.69. The company has a market cap of $9,897.39, a price-to-earnings ratio of 21.15, a PEG ratio of 1.13 and a beta of 0.82. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.19 and a current ratio of 0.19.
American Financial Group (NYSE:AFG) last announced its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $2.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.53. American Financial Group had a net margin of 6.92% and a return on equity of 11.10%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the business posted $1.98 EPS. American Financial Group’s quarterly revenue was up 7.1% on a year-over-year basis. research analysts forecast that American Financial Group Inc will post 8.2 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 25th. Stockholders of record on Monday, January 15th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, January 11th. This represents a $1.40 annualized dividend and a dividend yield of 1.25%. American Financial Group’s dividend payout ratio (DPR) is 26.42%.
Several research analysts have recently commented on AFG shares. Sandler O’Neill restated a “buy” rating and set a $119.00 price target on shares of American Financial Group in a research note on Wednesday, January 10th. ValuEngine upgraded shares of American Financial Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Bank of America increased their price target on shares of American Financial Group from $120.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Finally, Zacks Investment Research lowered shares of American Financial Group from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $116.75.
In related news, CEO Carl H. Lindner III sold 150,000 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $104.71, for a total transaction of $15,706,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Virginia Drosos sold 1,438 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $104.21, for a total transaction of $149,853.98. Following the sale, the director now directly owns 8,034 shares of the company’s stock, valued at $837,223.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,438 shares of company stock worth $21,663,214. 14.90% of the stock is currently owned by company insiders.
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American Financial Group Company 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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