Traders Buy American Financial Group Inc (AFG) on Weakness
Investors bought shares of American Financial Group Inc (NYSE:AFG) on weakness during trading on Wednesday. $2.92 million flowed into the stock on the tick-up and $0.07 million flowed out of the stock on the tick-down, for a money net flow of $2.85 million into the stock. Of all stocks tracked, American Financial Group had the 26th highest net in-flow for the day. American Financial Group traded down ($0.01) for the day and closed at $97.56
Several equities analysts recently commented on AFG shares. BidaskClub raised shares of American Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Zacks Investment Research cut shares of American Financial Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th.
The company’s 50-day moving average is $102.32 and its 200 day moving average is $98.61. The stock has a market capitalization of $8.58 billion, a P/E ratio of 10.99 and a beta of 0.84.
American Financial Group (NYSE:AFG) last released its earnings results on Tuesday, August 1st. The insurance provider reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.31. American Financial Group had a net margin of 8.76% and a return on equity of 11.07%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the business earned $1.28 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. Equities analysts forecast that American Financial Group Inc will post $6.80 EPS for the current year.
In other American Financial Group news, CEO S Craig Lindner sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $104.27, for a total transaction of $2,606,750.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michelle A. Gillis sold 2,051 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $104.88, for a total transaction of $215,108.88. Following the sale, the insider now owns 17,939 shares in the company, valued at approximately $1,881,442.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,320 shares of company stock worth $14,690,115. 13.70% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Achmea Investment Management B.V. bought a new stake in American Financial Group during the 2nd quarter worth approximately $235,000. Lord Abbett & CO. LLC bought a new stake in American Financial Group during the 2nd quarter worth approximately $4,879,000. USA Financial Portformulas Corp raised its stake in American Financial Group by 7.6% during the 2nd quarter. USA Financial Portformulas Corp now owns 5,780 shares of the insurance provider’s stock worth $574,000 after acquiring an additional 406 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in American Financial Group during the 2nd quarter worth approximately $462,000. Finally, Ameritas Investment Partners Inc. raised its stake in American Financial Group by 2.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 22,029 shares of the insurance provider’s stock worth $2,189,000 after acquiring an additional 483 shares during the period. Institutional investors own 62.66% of the company’s stock.
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About American Financial Group
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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