California Public Employees Retirement System boosted its holdings in American Financial Group Inc (NYSE:AFG) by 23.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 264,997 shares of the insurance provider’s stock after acquiring an additional 49,730 shares during the quarter. California Public Employees Retirement System’s holdings in American Financial Group were worth $28,442,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Great West Life Assurance Co. Can increased its stake in American Financial Group by 21.8% in the 2nd quarter. Great West Life Assurance Co. Can now owns 83,036 shares of the insurance provider’s stock worth $8,917,000 after acquiring an additional 14,859 shares during the last quarter. Royal Bank of Canada increased its position in shares of American Financial Group by 10.1% during the 1st quarter. Royal Bank of Canada now owns 153,028 shares of the insurance provider’s stock valued at $17,173,000 after purchasing an additional 14,077 shares during the last quarter. Alps Advisors Inc. increased its position in shares of American Financial Group by 146.0% during the 2nd quarter. Alps Advisors Inc. now owns 4,693 shares of the insurance provider’s stock valued at $509,000 after purchasing an additional 2,785 shares during the last quarter. Retirement Systems of Alabama increased its position in shares of American Financial Group by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 154,564 shares of the insurance provider’s stock valued at $16,589,000 after purchasing an additional 624 shares during the last quarter. Finally, Cornerstone Wealth Management LLC increased its position in shares of American Financial Group by 11,113.9% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 230,446 shares of the insurance provider’s stock valued at $2,181,000 after purchasing an additional 228,391 shares during the last quarter. Institutional investors and hedge funds own 61.90% of the company’s stock.
Shares of American Financial Group stock opened at $110.51 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.15 and a current ratio of 0.15. The stock has a market cap of $9.98 billion, a PE ratio of 16.87, a PEG ratio of 1.06 and a beta of 0.77. American Financial Group Inc has a 12 month low of $101.01 and a 12 month high of $121.69.
In related news, Director James E. Evans sold 3,132 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $112.43, for a total transaction of $352,130.76. Following the transaction, the director now directly owns 138,192 shares in the company, valued at approximately $15,536,926.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO S Craig Lindner sold 26,000 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $112.56, for a total value of $2,926,560.00. The disclosure for this sale can be found here. Insiders have sold a total of 446,638 shares of company stock worth $50,239,767 over the last quarter. Corporate insiders own 13.70% of the company’s stock.
AFG has been the topic of several recent research reports. Zacks Investment Research upgraded American Financial Group from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a research report on Tuesday, July 3rd. Raymond James lowered American Financial Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 12th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $120.33.
American Financial Group Company 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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