Cramer Rosenthal Mcglynn LLC decreased its holdings in shares of American Financial Group Inc (NYSE:AFG) by 19.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 211,733 shares of the insurance provider’s stock after selling 52,035 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned about 0.24% of American Financial Group worth $21,904,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Pinebridge Investments L.P. bought a new position in shares of American Financial Group in the third quarter worth about $1,401,000. Tredje AP fonden grew its holdings in shares of American Financial Group by 161.4% in the third quarter. Tredje AP fonden now owns 24,700 shares of the insurance provider’s stock worth $2,555,000 after purchasing an additional 15,250 shares during the last quarter. Strategic Global Advisors LLC purchased a new stake in American Financial Group in the third quarter worth about $207,000. USS Investment Management Ltd purchased a new stake in American Financial Group in the third quarter worth about $7,316,000. Finally, Schwab Charles Investment Management Inc. lifted its stake in American Financial Group by 1.8% in the third quarter. Schwab Charles Investment Management Inc. now owns 353,662 shares of the insurance provider’s stock worth $36,587,000 after acquiring an additional 6,113 shares during the period. 60.46% of the stock is currently owned by institutional investors.
AFG has been the subject of a number of research reports. Zacks Investment Research lowered shares of American Financial Group from a “buy” rating to a “hold” rating in a research note on Monday, August 21st. BidaskClub lowered shares of American Financial Group from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, Buckingham Research initiated coverage on shares of American Financial Group in a research report on Monday, September 11th. They set a “neutral” rating and a $103.00 price target for the company.
In related news, CEO S Craig Lindner sold 50,000 shares of the 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Carl H. Lindner III sold 150,000 shares of the stock in a transaction that occurred on 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. 13.70% of the stock is currently owned by corporate insiders.
Shares of American Financial Group Inc (AFG) opened at $104.61 on Wednesday. The company has a market cap of $9,324.09, a PE ratio of 16.69, a price-to-earnings-growth ratio of 3.00 and a beta of 0.86. American Financial Group Inc has a 1 year low of $82.92 and a 1 year high of $106.76. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.24.
American Financial Group (NYSE:AFG) last announced its quarterly earnings data on Tuesday, October 31st. The insurance provider reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.21. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $979.50 million. American Financial Group had a net margin of 10.22% and a return on equity of 10.90%. American Financial Group’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm posted $1.51 EPS. equities research analysts predict that American Financial Group Inc will post 6.05 EPS for the current year.
The firm also recently declared a special dividend, which was paid on Monday, November 27th. Investors of record on Friday, November 17th were issued a $2.00 dividend. This represents a yield of 1.33%. The ex-dividend date of this dividend was Thursday, November 16th. This is an increase from American Financial Group’s previous special dividend of $1.50. American Financial Group’s dividend payout ratio is 17.97%.
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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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