Laurion Capital Management LP Reduces Position in American Financial Group Inc (AFG)
Laurion Capital Management LP decreased its stake in shares of American Financial Group Inc (NYSE:AFG) by 9.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,275 shares of the insurance provider’s stock after selling 2,125 shares during the quarter. Laurion Capital Management LP’s holdings in American Financial Group were worth $2,284,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. BerganKDV Wealth Management LLC bought a new position in shares of American Financial Group during the second quarter worth $110,000. Cerebellum GP LLC boosted its position in shares of American Financial Group by 62.3% during the second quarter. Cerebellum GP LLC now owns 1,660 shares of the insurance provider’s stock worth $178,000 after acquiring an additional 637 shares during the last quarter. Focused Wealth Management Inc boosted its position in shares of American Financial Group by 77.8% during the first quarter. Focused Wealth Management Inc now owns 1,600 shares of the insurance provider’s stock worth $180,000 after acquiring an additional 700 shares during the last quarter. KCM Investment Advisors LLC bought a new position in shares of American Financial Group during the second quarter worth $212,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of American Financial Group during the second quarter worth $225,000. Hedge funds and other institutional investors own 62.00% of the company’s stock.
A number of equities analysts recently weighed in on AFG shares. Zacks Investment Research upgraded shares of 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 Tuesday, July 3rd. Raymond James lowered shares of American Financial Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 12th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $116.00.
American Financial Group (NYSE:AFG) last released its quarterly earnings data on Wednesday, August 1st. The insurance provider reported $2.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.96 by $0.08. American Financial Group had a net margin of 7.50% and a return on equity of 13.27%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the business earned $1.61 earnings per share. American Financial Group’s quarterly revenue was up 9.0% compared to the same quarter last year. research analysts anticipate that American Financial Group Inc will post 8.58 EPS for the current fiscal year.
In other American Financial Group news, CEO Carl H. Lindner III sold 119,448 shares of the stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $111.58, for a total transaction of $13,328,007.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John B. Berding sold 17,721 shares of the firm’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $112.45, for a total transaction of $1,992,726.45. The disclosure for this sale can be found here. Insiders have sold 265,638 shares of company stock valued at $29,698,077 in the last quarter. 13.70% of the stock is owned by company insiders.
About American Financial Group
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.
Further Reading: Analyst Ratings
Want to see what other hedge funds are holding AFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Financial Group Inc (NYSE:AFG).
Receive News & Ratings for American Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.