Korea Investment CORP Has $2.42 Million Stake in American Financial Group Inc (AFG)
Korea Investment CORP lowered its position in shares of American Financial Group Inc (NYSE:AFG) by 64.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,776 shares of the insurance provider’s stock after selling 39,400 shares during the period. Korea Investment CORP’s holdings in American Financial Group were worth $2,416,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of American Financial Group by 25,000.0% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,004 shares of the insurance provider’s stock valued at $111,000 after purchasing an additional 1,000 shares during the period. FMR LLC purchased a new stake in shares of American Financial Group during the third quarter valued at approximately $113,000. Checchi Capital Advisers LLC purchased a new stake in shares of American Financial Group during the third quarter valued at approximately $203,000. First Hawaiian Bank purchased a new stake in shares of American Financial Group during the third quarter valued at approximately $211,000. Finally, KCM Investment Advisors LLC purchased a new stake in shares of American Financial Group during the second quarter valued at approximately $212,000. Institutional investors own 62.79% of the company’s stock.
A number of analysts have recently weighed in on the stock. Zacks Investment Research reissued a “buy” rating and set a $115.00 price target on shares of American Financial Group in a research report on Monday, November 12th. ValuEngine downgraded shares of American Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $118.67.
American Financial Group (NYSE:AFG) last released its quarterly earnings results on Tuesday, October 30th. The insurance provider reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.31. American Financial Group had a net margin of 9.98% and a return on equity of 15.39%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the company earned $1.06 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts anticipate that American Financial Group Inc will post 8.6 EPS for the current year.
The business also recently declared a special dividend, which was paid on Monday, November 26th. Stockholders of record on Friday, November 16th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Thursday, November 15th. American Financial Group’s payout ratio is currently 24.43%.
In other news, CEO Carl H. Lindner III sold 181,000 shares of the firm’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.90% of the stock is currently owned by company insiders.
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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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