American Financial Group Inc (NYSE:AFG) Position Cut by Wedge Capital Management L L P NC

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Wedge Capital Management L L P NC reduced its holdings in American Financial Group Inc (NYSE:AFG) by 6.0% during the 4th quarter, Holdings Channel reports. The fund owned 312,736 shares of the insurance provider’s stock after selling 20,075 shares during the quarter. Wedge Capital Management L L P NC’s holdings in American Financial Group were worth $34,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of AFG. Carroll Financial Associates Inc. bought a new stake in shares of American Financial Group during the 3rd quarter worth about $29,000. Enterprise Financial Services Corp raised its holdings in American Financial Group by 70.8% during the third quarter. Enterprise Financial Services Corp now owns 480 shares of the insurance provider’s stock worth $52,000 after purchasing an additional 199 shares in the last quarter. Signaturefd LLC raised its holdings in American Financial Group by 72.2% during the third quarter. Signaturefd LLC now owns 575 shares of the insurance provider’s stock worth $62,000 after purchasing an additional 241 shares in the last quarter. Cerebellum GP LLC bought a new stake in American Financial Group during the third quarter worth approximately $111,000. Finally, FMR LLC lifted its position in American Financial Group by 26.4% in the first quarter. FMR LLC now owns 1,057 shares of the insurance provider’s stock worth $101,000 after purchasing an additional 221 shares during the period. Hedge funds and other institutional investors own 63.79% of the company’s stock.

Separately, ValuEngine lowered American Financial Group from a “hold” rating to a “sell” rating in a research note on Thursday, December 5th.

In related news, insider Mckeon Brett sold 6,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $2.51, for a total transaction of $15,060,000.00. Also, CEO Carl H. Lindner III sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $107.31, for a total transaction of $21,462,000.00. Insiders own 11.90% of the company’s stock.

Shares of AFG stock opened at $109.86 on Thursday. The stock has a 50-day simple moving average of $109.99 and a 200 day simple moving average of $105.66. American Financial Group Inc has a fifty-two week low of $90.20 and a fifty-two week high of $111.86. The stock has a market capitalization of $9.93 billion, a P/E ratio of 13.08, a P/E/G ratio of 2.26 and a beta of 0.84. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.23.

American Financial Group (NYSE:AFG) last released its earnings results on Tuesday, October 29th. The insurance provider reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.30. American Financial Group had a return on equity of 12.83% and a net margin of 8.43%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the company earned $2.19 earnings per share. American Financial Group’s revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts anticipate that American Financial Group Inc will post 8.6 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Wednesday, January 15th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, January 14th. This represents a $1.80 annualized dividend and a dividend yield of 1.64%. American Financial Group’s dividend payout ratio is currently 21.43%.

American Financial Group Profile

American Financial Group, Inc, an insurance holding company, provides property and casualty insurance products in the United States. The company operates through three segments: Property and Casualty Insurance, Annuity, and Other. 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; specialty casualty insurance, including primarily excess and surplus, general liability, executive liability, professional liability, umbrella and excess liability, and specialty coverage in targeted markets, as well as customized programs for small to mid-sized businesses and workers' compensation insurance; 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: Balance Sheet

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).

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

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