Nordea Investment Management AB reduced its position in American Financial Group Inc (NYSE:AFG) by 15.8% during the first quarter, Holdings Channel reports. The firm owned 251,975 shares of the insurance provider’s stock after selling 47,166 shares during the period. Nordea Investment Management AB’s holdings in American Financial Group were worth $24,043,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Advisor Group Inc. increased its stake in American Financial Group by 3.6% in the third quarter. Advisor Group Inc. now owns 1,531 shares of the insurance provider’s stock worth $115,000 after buying an additional 53 shares during the period. Credit Agricole S A purchased a new stake in American Financial Group during the fourth quarter worth $123,000. Smith Moore & CO. purchased a new stake in American Financial Group during the first quarter worth $202,000. Barings LLC purchased a new stake in American Financial Group during the fourth quarter worth $203,000. Finally, Aberdeen Asset Management PLC UK purchased a new stake in American Financial Group during the fourth quarter worth $217,000. 59.51% of the stock is owned by institutional investors and hedge funds.
American Financial Group Inc (NYSE:AFG) traded up 0.35% during trading on Friday, hitting $97.34. 418,544 shares of the stock were exchanged. The stock has a 50 day moving average price of $96.47 and a 200-day moving average price of $90.10. American Financial Group Inc has a 12-month low of $69.06 and a 12-month high of $100.58. The firm has a market capitalization of $8.53 billion, a PE ratio of 12.31 and a beta of 0.70.
American Financial Group (NYSE:AFG) last announced its quarterly earnings results on Wednesday, May 3rd. The insurance provider reported $1.69 EPS for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.32. American Financial Group had a net margin of 9.99% and a return on equity of 10.34%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the business earned $1.25 EPS. American Financial Group’s quarterly revenue was up 6.8% on a year-over-year basis. On average, equities research analysts anticipate that American Financial Group Inc will post $6.54 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 25th. Investors of record on Monday, May 15th will be paid a $1.50 dividend. This is an increase from American Financial Group’s previous quarterly dividend of $1.00. The ex-dividend date is Thursday, May 11th. This represents a $6.00 annualized dividend and a yield of 6.16%. American Financial Group’s dividend payout ratio is presently 17.08%.
Separately, Zacks Investment Research upgraded American Financial Group from a “hold” rating to a “buy” rating and set a $112.00 price objective for the company in a research report on Monday, May 8th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. American Financial Group presently has a consensus rating of “Buy” and an average target price of $92.00.
In related news, CEO S Craig Lindner sold 26,475 shares of the stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $99.46, for a total value of $2,633,203.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John B. Berding sold 5,349 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $94.89, for a total transaction of $507,566.61. Following the completion of the transaction, the insider now directly owns 71,481 shares of the company’s stock, valued at approximately $6,782,832.09. The disclosure for this sale can be found here. In the last three months, insiders sold 116,032 shares of company stock valued at $11,321,233. 14.90% of the stock is owned by insiders.
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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