American Financial Group Inc. (AFG) Sees Large Volume Increase
American Financial Group Inc. (NYSE:AFG) saw unusually-high trading volume on Tuesday . Approximately 255,422 shares traded hands during trading, an increase of 20% from the previous session’s volume of 212,109 shares.The stock last traded at $75.20 and had previously closed at $75.14.
AFG has been the topic of several analyst reports. Janney Montgomery Scott restated a “buy” rating on shares of American Financial Group in a report on Thursday, June 30th. Zacks Investment Research downgraded American Financial Group from a “hold” rating to a “sell” rating in a report on Monday, July 4th. Finally, Sandler O’Neill upgraded American Financial Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $74.00 to $81.00 in a report on Friday, August 12th.
The stock has a market capitalization of $6.57 billion and a price-to-earnings ratio of 19.33. The firm’s 50 day moving average price is $73.34 and its 200 day moving average price is $71.15.
American Financial Group (NYSE:AFG) last issued its earnings results on Tuesday, August 2nd. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.01. During the same period in the previous year, the company earned $1.28 earnings per share. The firm earned $1.58 billion during the quarter, compared to analyst estimates of $1.06 billion. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Analysts predict that American Financial Group Inc. will post $5.62 earnings per share for the current fiscal year.
In other news, Director William W. Verity sold 2,046 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $72.97, for a total transaction of $149,296.62. Following the completion of the sale, the director now owns 5,549 shares in the company, valued at approximately $404,910.53. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Carl H. Lindner III sold 100,000 shares of the company’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $71.81, for a total value of $7,181,000.00. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in American Financial Group stock. Morgan Stanley increased its stake in American Financial Group Inc. (NYSE:AFG) by 34.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 159,323 shares of the company’s stock after buying an additional 40,653 shares during the period. Morgan Stanley owned approximately 0.18% of American Financial Group worth $11,484,000 as of its most recent filing with the SEC.
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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