Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its holdings in shares of American Financial Group Inc (NYSE:AFG) by 6.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,016 shares of the insurance provider’s stock after selling 728 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in American Financial Group were worth $1,036,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AFG. Acrospire Investment Management LLC raised its holdings in shares of American Financial Group by 153.6% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,321 shares of the insurance provider’s stock worth $131,000 after purchasing an additional 800 shares during the period. Bessemer Group Inc. purchased a new position in shares of American Financial Group in the 2nd quarter worth about $155,000. TLP Group LLC purchased a new position in shares of American Financial Group in the 2nd quarter worth about $194,000. Checchi Capital Advisers LLC purchased a new position in shares of American Financial Group in the 3rd quarter worth about $211,000. Finally, ETRADE Capital Management LLC purchased a new position in shares of American Financial Group in the 2nd quarter worth about $216,000. Hedge funds and other institutional investors own 60.46% of the company’s stock.
In other news, CEO Carl H. Lindner III sold 150,000 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $104.71, for a total value of $15,706,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO S Craig Lindner sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $106.21, for a total value of $5,310,500.00. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by company insiders.
American Financial Group (NYSE:AFG) last posted its earnings results on Tuesday, October 31st. The insurance provider reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.21. American Financial Group had a return on equity of 10.90% and a net margin of 10.22%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $979.50 million. During the same quarter last year, the firm earned $1.51 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. analysts expect that American Financial Group Inc will post 6.05 EPS for the current year.
The business also recently announced a special dividend, which was paid on Monday, November 27th. Stockholders of record on Friday, November 17th were paid a $2.00 dividend. The ex-dividend date was Thursday, November 16th. This represents a dividend yield of 1.33%. This is a positive change from American Financial Group’s previous special dividend of $1.50. American Financial Group’s dividend payout ratio (DPR) is 17.97%.
A number of equities analysts have recently commented on the company. Zacks Investment Research downgraded American Financial Group from a “buy” rating to a “sell” rating in a report on Tuesday, October 3rd. BidaskClub downgraded American Financial Group from a “hold” rating to a “sell” rating in a report on Friday, August 25th.
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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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