Korea Investment CORP purchased a new stake in shares of American Financial Group, Inc. (NYSE:AFG) during the second quarter, Holdings Channel reports. The fund purchased 88,200 shares of the insurance provider’s stock, valued at approximately $8,764,000.

A number of other hedge funds also recently added to or reduced their stakes in AFG. Vanguard Group Inc. boosted its stake in American Financial Group by 7.1% in the first quarter. Vanguard Group Inc. now owns 6,517,519 shares of the insurance provider’s stock valued at $621,902,000 after buying an additional 431,262 shares during the period. BlackRock Inc. boosted its stake in American Financial Group by 10,325.5% in the first quarter. BlackRock Inc. now owns 5,915,732 shares of the insurance provider’s stock valued at $564,476,000 after buying an additional 5,858,989 shares during the period. Victory Capital Management Inc. boosted its stake in American Financial Group by 5.8% in the first quarter. Victory Capital Management Inc. now owns 2,098,038 shares of the insurance provider’s stock valued at $200,195,000 after buying an additional 114,826 shares during the period. AQR Capital Management LLC boosted its stake in American Financial Group by 0.6% in the first quarter. AQR Capital Management LLC now owns 1,334,072 shares of the insurance provider’s stock valued at $127,297,000 after buying an additional 7,997 shares during the period. Finally, Investec Asset Management LTD boosted its stake in American Financial Group by 6.5% in the first quarter. Investec Asset Management LTD now owns 1,160,823 shares of the insurance provider’s stock valued at $110,766,000 after buying an additional 70,548 shares during the period. Institutional investors and hedge funds own 62.33% of the company’s stock.

American Financial Group, Inc. (NYSE AFG) opened at 105.28 on Thursday. The stock has a market cap of $9.23 billion, a price-to-earnings ratio of 11.87 and a beta of 0.83. American Financial Group, Inc. has a 52-week low of $73.38 and a 52-week high of $105.58. The stock has a 50 day moving average price of $101.11 and a 200 day moving average price of $96.86.

American Financial Group (NYSE:AFG) last posted its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.31. American Financial Group had a return on equity of 11.66% and a net margin of 11.89%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the company earned $1.28 EPS. The business’s revenue was up 3.7% compared to the same quarter last year. Analysts expect that American Financial Group, Inc. will post $6.80 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Friday, July 14th were given a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Wednesday, July 12th. American Financial Group’s payout ratio is 14.06%.

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AFG has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of American Financial Group from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a report on Monday. BidaskClub upgraded shares of American Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $93.67.

In related news, Director William W. Verity sold 1,773 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $99.26, for a total transaction of $175,987.98. Following the sale, the director now owns 5,135 shares of the company’s stock, valued at $509,700.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michelle A. Gillis sold 2,051 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $104.88, for a total value of $215,108.88. Following the sale, the insider now directly owns 17,939 shares in the company, valued at approximately $1,881,442.32. The disclosure for this sale can be found here. Insiders have sold a total of 327,169 shares of company stock worth $32,890,665 in the last three months. Corporate insiders own 14.90% of the company’s stock.

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

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