Reliance Trust Co. of Delaware Takes $213,000 Position in American Financial Group Inc (AFG)

Reliance Trust Co. of Delaware purchased a new stake in shares of American Financial Group Inc (NYSE:AFG) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 1,925 shares of the insurance provider’s stock, valued at approximately $213,000.

Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of American Financial Group by 11.7% during the second quarter. BlackRock Inc. now owns 7,286,536 shares of the insurance provider’s stock valued at $782,062,000 after acquiring an additional 763,692 shares during the last quarter. Investec Asset Management LTD raised its stake in shares of American Financial Group by 3.8% during the second quarter. Investec Asset Management LTD now owns 1,243,452 shares of the insurance provider’s stock valued at $133,460,000 after acquiring an additional 45,008 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of American Financial Group by 7.6% during the first quarter. Principal Financial Group Inc. now owns 742,687 shares of the insurance provider’s stock valued at $83,343,000 after acquiring an additional 52,766 shares during the last quarter. Northern Trust Corp raised its stake in shares of American Financial Group by 5.2% during the second quarter. Northern Trust Corp now owns 676,137 shares of the insurance provider’s stock valued at $72,571,000 after acquiring an additional 33,183 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of American Financial Group by 23.6% during the second quarter. Bank of America Corp DE now owns 507,225 shares of the insurance provider’s stock valued at $54,440,000 after acquiring an additional 96,914 shares during the last quarter. 61.95% of the stock is owned by hedge funds and other institutional investors.

AFG opened at $100.29 on Friday. American Financial Group Inc has a twelve month low of $98.22 and a twelve month high of $121.69. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.26. The firm has a market cap of $8.91 billion, a PE ratio of 15.31, a PEG ratio of 0.95 and a beta of 0.84.

American Financial Group (NYSE:AFG) last posted its quarterly earnings data on Tuesday, October 30th. The insurance provider reported $2.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.31. American Financial Group had a net margin of 9.98% and a return on equity of 15.37%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the prior year, the company posted $1.06 earnings per share. American Financial Group’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, research analysts anticipate that American Financial Group Inc will post 8.55 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 25th. Stockholders of record on Monday, October 15th were given a dividend of $0.40 per share. The ex-dividend date was Friday, October 12th. This is a boost from American Financial Group’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 1.60%. American Financial Group’s dividend payout ratio is 24.43%.

Several equities analysts have recently issued reports on AFG shares. ValuEngine downgraded shares of American Financial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Raymond James downgraded shares of American Financial Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 12th. Finally, Zacks Investment Research downgraded shares of American Financial Group from a “hold” rating to a “sell” rating in a research note on Monday, October 15th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $120.33.

In other news, CEO Carl H. Lindner III sold 181,000 shares of the stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $113.49, for a total transaction of $20,541,690.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John B. Berding sold 17,721 shares of the stock in a transaction 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. Over the last quarter, insiders have sold 417,506 shares of company stock valued at $46,961,077. 14.90% of the stock is currently owned by corporate insiders.

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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Institutional Ownership by Quarter for American Financial Group (NYSE:AFG)

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