Riverhead Capital Management LLC trimmed its stake in shares of American Financial Group Inc (NYSE:AFG) by 32.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,721 shares of the insurance provider’s stock after selling 3,700 shares during the quarter. Riverhead Capital Management LLC’s holdings in American Financial Group were worth $829,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BerganKDV Wealth Management LLC bought a new position in shares of American Financial Group in the second quarter valued at approximately $110,000. Cerebellum GP LLC raised its stake in shares of American Financial Group by 62.3% in the second quarter. Cerebellum GP LLC now owns 1,660 shares of the insurance provider’s stock valued at $178,000 after acquiring an additional 637 shares during the last quarter. Focused Wealth Management Inc raised its stake in shares of American Financial Group by 77.8% in the first quarter. Focused Wealth Management Inc now owns 1,600 shares of the insurance provider’s stock valued at $180,000 after acquiring an additional 700 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of American Financial Group in the second quarter valued at approximately $225,000. Finally, IFM Investors Pty Ltd bought a new position in shares of American Financial Group in the second quarter valued at approximately $228,000. 62.01% of the stock is currently owned by institutional investors.
NYSE:AFG opened at $112.91 on Friday. American Financial Group Inc has a 1 year low of $95.19 and a 1 year high of $121.69. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.15 and a quick ratio of 0.15. The company has a market capitalization of $10.06 billion, a PE ratio of 17.24, a PEG ratio of 1.07 and a beta of 0.77.
American Financial Group (NYSE:AFG) last posted its earnings results on Wednesday, August 1st. The insurance provider reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.08. American Financial Group had a net margin of 7.50% and a return on equity of 13.27%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the company posted $1.61 earnings per share. American Financial Group’s quarterly revenue was up 9.0% compared to the same quarter last year. sell-side analysts anticipate that American Financial Group Inc will post 8.58 EPS for the current year.
In related news, CEO S Craig Lindner sold 26,000 shares of the business’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $112.56, for a total value of $2,926,560.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John B. Berding sold 17,721 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $112.45, for a total transaction of $1,992,726.45. The disclosure for this sale can be found here. Insiders sold a total of 265,638 shares of company stock valued at $29,698,077 in the last 90 days. 14.90% of the stock is currently owned by corporate insiders.
AFG has been the subject of a number of research analyst reports. Raymond James cut shares of American Financial Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 12th. Zacks Investment Research upgraded shares of American Financial Group from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Saturday, July 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $116.00.
American Financial Group Profile
American Financial Group, Inc, through its subsidiaries, provides property and casualty insurance products in the United States. The company operates through Property and Casualty Insurance, Annuity, Run-Off Long-Term Care and Life, and Other segments. 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 coverages; specialty casualty insurance, including primarily excess and surplus, general liability, executive liability, professional liability, umbrella and excess liability, and specialty coverage in targeted markets and customized programs for small to mid-sized businesses; 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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