Wells Fargo & Company MN trimmed its stake in shares of American Financial Group Inc (NYSE:AFG) by 7.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 152,262 shares of the insurance provider’s stock after selling 12,681 shares during the quarter. Wells Fargo & Company MN owned about 0.17% of American Financial Group worth $16,526,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Cerebellum GP LLC bought a new stake in shares of American Financial Group during the 4th quarter valued at $111,000. Dai Ichi Life Insurance Company Ltd bought a new stake in shares of American Financial Group during the 3rd quarter valued at $201,000. Strategic Global Advisors LLC bought a new stake in shares of American Financial Group during the 3rd quarter valued at $207,000. GSA Capital Partners LLP bought a new stake in shares of American Financial Group during the 3rd quarter valued at $211,000. Finally, Ladenburg Thalmann Financial Services Inc. bought a new stake in shares of American Financial Group during the 3rd quarter valued at $244,000. Hedge funds and other institutional investors own 62.32% of the company’s stock.
In related news, Director Virginia Drosos sold 1,438 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $104.21, for a total transaction of $149,853.98. Following the completion of the sale, the director now directly owns 8,034 shares in the company, valued at approximately $837,223.14. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Gregory G. Joseph acquired 500 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average price of $113.50 per share, with a total value of $56,750.00. The disclosure for this purchase can be found here. 13.70% of the stock is owned by corporate insiders.
American Financial Group (NYSE:AFG) last announced its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.53. American Financial Group had a return on equity of 11.09% and a net margin of 6.92%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the company earned $1.98 EPS. American Financial Group’s revenue for the quarter was up 7.1% on a year-over-year basis. analysts predict that American Financial Group Inc will post 8.2 earnings per share for the current year.
A number of research firms have recently weighed in on AFG. ValuEngine upgraded American Financial Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded American Financial Group from a “hold” rating to a “buy” rating and set a $118.00 target price for the company in a research report on Wednesday, December 20th. Sandler O’Neill reiterated a “buy” rating and set a $119.00 target price on shares of American Financial Group in a research report on Wednesday, January 10th. Finally, Bank of America upped their target price on American Financial Group from $120.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. American Financial Group has a consensus rating of “Buy” and a consensus price target of $116.75.
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American Financial Group Profile
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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