Highland Capital Management LLC lessened its holdings in American Financial Group Inc (NYSE:AFG) by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,309 shares of the insurance provider’s stock after selling 155 shares during the quarter. Highland Capital Management LLC’s holdings in American Financial Group were worth $2,146,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of AFG. FMR LLC acquired a new position in shares of American Financial Group during the third quarter valued at about $113,000. JPMorgan Chase & Co. raised its position in shares of American Financial Group by 15.3% during the third quarter. JPMorgan Chase & Co. now owns 367,848 shares of the insurance provider’s stock valued at $40,819,000 after buying an additional 48,897 shares during the last quarter. Man Group plc raised its position in shares of American Financial Group by 192.8% during the third quarter. Man Group plc now owns 113,933 shares of the insurance provider’s stock valued at $12,644,000 after buying an additional 75,015 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of American Financial Group during the third quarter valued at about $212,000. Finally, Legal & General Group Plc raised its position in shares of American Financial Group by 2.0% during the third quarter. Legal & General Group Plc now owns 193,067 shares of the insurance provider’s stock valued at $21,424,000 after buying an additional 3,808 shares during the last quarter. 64.19% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Carl H. Lindner III sold 74,940 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $96.08, for a total value of $7,200,235.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lehman John I. Von sold 1,359 shares of the stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $96.54, for a total transaction of $131,197.86. Following the completion of the transaction, the director now directly owns 9,327 shares of the company’s stock, valued at approximately $900,428.58. The disclosure for this sale can be found here. Insiders sold 168,989 shares of company stock valued at $16,427,175 in the last three months. Company insiders own 13.70% of the company’s stock.
American Financial Group (NYSE:AFG) last posted its quarterly earnings results on Wednesday, January 30th. The insurance provider reported $1.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.84 by ($0.09). American Financial Group had a return on equity of 14.92% and a net margin of 7.41%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company earned $2.20 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities analysts predict that American Financial Group Inc will post 8.62 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.60%. The ex-dividend date is Friday, April 12th. American Financial Group’s dividend payout ratio (DPR) is presently 19.05%.
AFG has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods initiated coverage on shares of American Financial Group in a research report on Thursday, January 10th. They set a “market perform” rating and a $107.00 price objective for the company. Zacks Investment Research raised shares of American Financial Group from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a research report on Friday, January 18th.
About American Financial Group
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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