Cramer Rosenthal Mcglynn LLC grew its position in American Financial Group Inc (NYSE:AFG) by 170.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 395,932 shares of the insurance provider’s stock after acquiring an additional 249,625 shares during the period. Cramer Rosenthal Mcglynn LLC owned about 0.44% of American Financial Group worth $40,571,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vigilant Capital Management LLC bought a new position in American Financial Group during the second quarter worth $59,000. Altshuler Shaham Ltd acquired a new position in American Financial Group during the second quarter worth $90,000. FMR LLC raised its holdings in American Financial Group by 26.4% during the first quarter. FMR LLC now owns 1,057 shares of the insurance provider’s stock worth $101,000 after buying an additional 221 shares during the last quarter. Focused Wealth Management Inc acquired a new position in American Financial Group during the second quarter worth $113,000. Finally, Oppenheimer Asset Management Inc. raised its holdings in American Financial Group by 1,673.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,561 shares of the insurance provider’s stock worth $160,000 after buying an additional 1,473 shares during the last quarter. 64.19% of the stock is owned by institutional investors.
Several analysts have recently commented on the stock. ValuEngine upgraded shares of American Financial Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Buckingham Research upgraded shares of American Financial Group from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a report on Thursday, June 13th. Finally, Zacks Investment Research upgraded shares of American Financial Group from a “sell” rating to a “hold” rating and set a $108.00 target price for the company in a report on Wednesday, August 14th.
American Financial Group (NYSE:AFG) last issued its earnings results on Tuesday, August 6th. The insurance provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. American Financial Group had a net margin of 9.29% and a return on equity of 13.39%. The firm had revenue of $1.20 billion during the quarter. During the same quarter in the prior year, the business earned $2.04 EPS. American Financial Group’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that American Financial Group Inc will post 8.65 earnings per share for the current year.
In other news, CEO Carl H. Lindner III sold 117,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $104.11, for a total value of $12,180,870.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William W. Verity sold 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $104.07, for a total transaction of $124,884.00. Following the completion of the sale, the director now directly owns 6,678 shares in the company, valued at $694,979.46. The disclosure for this sale can be found here. Insiders sold 220,565 shares of company stock valued at $22,926,258 over the last 90 days. 11.90% of the stock is owned by company insiders.
American Financial Group Company 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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