Rhumbline Advisers lowered its holdings in shares of American Financial Group Inc (NYSE:AFG) by 0.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 144,320 shares of the insurance provider’s stock after selling 1,344 shares during the quarter. Rhumbline Advisers’ holdings in American Financial Group were worth $15,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Cerebellum GP LLC acquired a new stake in shares of American Financial Group in the 4th quarter valued at $111,000. Dai Ichi Life Insurance Company Ltd acquired a new stake in shares of American Financial Group in the 3rd quarter valued at $201,000. Signition LP acquired a new stake in shares of American Financial Group in the 4th quarter valued at $204,000. Strategic Global Advisors LLC acquired a new stake in shares of American Financial Group in the 3rd quarter valued at $207,000. Finally, Checchi Capital Advisers LLC acquired a new stake in shares of American Financial Group in the 3rd quarter valued at $211,000. Hedge funds and other institutional investors own 60.78% of the company’s stock.
Several brokerages have recently commented on AFG. 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 boosted their target price on shares of American Financial Group from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Zacks Investment Research upgraded shares of American Financial Group from a “hold” rating to a “buy” rating and set a $123.00 target price on the stock in a research note on Thursday, January 18th. Finally, Sandler O’Neill restated a “buy” rating and issued a $119.00 target price on shares of American Financial Group in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $116.75.
American Financial Group (NYSE:AFG) last issued its earnings results on Wednesday, January 31st. The insurance provider reported $2.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.53. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.11 billion. American Financial Group had a net margin of 6.92% and a return on equity of 11.10%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.98 EPS. sell-side analysts expect that American Financial Group Inc will post 8.2 earnings per share for the current fiscal year.
In related news, Director Virginia Drosos sold 1,438 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $104.21, for a total transaction of $149,853.98. Following the transaction, the director now owns 8,034 shares in the company, valued at approximately $837,223.14. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Carl H. Lindner III sold 150,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $104.71, for a total transaction of $15,706,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,438 shares of company stock worth $21,663,214. 13.70% of the stock is owned by corporate insiders.
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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