Cramer Rosenthal Mcglynn LLC grew its holdings in American Financial Group Inc (NYSE:AFG) by 170.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 395,932 shares of the insurance provider’s stock after purchasing an additional 249,625 shares during the period. Cramer Rosenthal Mcglynn LLC’s holdings in American Financial Group were worth $40,571,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in AFG. Nordea Investment Management AB raised its holdings in shares of American Financial Group by 101.0% in the 1st quarter. Nordea Investment Management AB now owns 421,064 shares of the insurance provider’s stock valued at $40,511,000 after buying an additional 211,586 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of American Financial Group by 1.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 12,782 shares of the insurance provider’s stock valued at $1,309,000 after buying an additional 234 shares during the period. Usca Ria LLC purchased a new stake in shares of American Financial Group in the 2nd quarter valued at $2,811,000. Crossmark Global Holdings Inc. raised its holdings in shares of American Financial Group by 8.9% in the 1st quarter. Crossmark Global Holdings Inc. now owns 7,359 shares of the insurance provider’s stock valued at $708,000 after buying an additional 600 shares during the period. Finally, Walthausen & Co. LLC increased its holdings in American Financial Group by 7.3% during the 1st quarter. Walthausen & Co. LLC now owns 63,839 shares of the insurance provider’s stock worth $6,142,000 after purchasing an additional 4,350 shares during the period. 64.19% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Carl H. Lindner III sold 117,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $104.11, for a total value of $12,180,870.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William W. Verity sold 1,200 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $104.07, for a total value of $124,884.00. Following the completion of the transaction, the director now owns 6,678 shares in the company, valued at approximately $694,979.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,565 shares of company stock worth $22,926,258. Company insiders own 11.90% of the company’s stock.
Several equities research analysts have weighed in on the company. Buckingham Research upgraded American Financial Group from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Thursday, June 13th. ValuEngine upgraded American Financial Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, Zacks Investment Research upgraded American Financial Group from a “sell” rating to a “hold” rating and set a $108.00 price target on the stock in a report on Wednesday, August 14th.
NYSE AFG traded up $0.31 during trading hours on Friday, hitting $106.62. 563 shares of the company were exchanged, compared to its average volume of 339,207. The company has a 50 day moving average of $101.62 and a two-hundred day moving average of $100.69. 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 $114.65. The firm has a market cap of $9.37 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.96 and a beta of 0.84.
American Financial Group (NYSE:AFG) last issued its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $2.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.01 by $0.11. American Financial Group had a return on equity of 13.39% and a net margin of 9.29%. The company had revenue of $1.20 billion for the quarter. During the same quarter last year, the company earned $2.04 EPS. American Financial Group’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities research analysts predict that American Financial Group Inc will post 8.65 EPS for the current year.
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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