Meiji Yasuda Life Insurance Co Takes Position in American Financial Group, Inc. (NYSE:AFG)

Meiji Yasuda Life Insurance Co purchased a new stake in American Financial Group, Inc. (NYSE:AFG) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,300 shares of the insurance provider’s stock, valued at approximately $328,000.

Several other institutional investors also recently modified their holdings of AFG. BlackRock Inc. increased its holdings in shares of 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 purchasing an additional 5,858,989 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 431,262 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of American Financial Group in the second quarter valued at approximately $20,516,000. Prudential Financial Inc. grew its holdings in American Financial Group by 20.5% during the 2nd quarter. Prudential Financial Inc. now owns 950,796 shares of the insurance provider’s stock worth $94,480,000 after acquiring an additional 161,661 shares during the period. Finally, Swiss National Bank grew its holdings in American Financial Group by 136.3% during the 2nd quarter. Swiss National Bank now owns 271,300 shares of the insurance provider’s stock worth $26,959,000 after acquiring an additional 156,500 shares during the period. 62.33% of the stock is owned by institutional investors and hedge funds.

In other news, CEO S Craig Lindner sold 25,000 shares of the stock in a transaction 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Michelle A. Gillis sold 2,051 shares of the stock in a transaction 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 of the company’s stock, valued at $1,881,442.32. The disclosure for this sale can be found here. Corporate insiders own 14.90% of the company’s stock.

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American Financial Group, Inc. (AFG) opened at 102.53 on Friday. The stock’s 50 day moving average is $101.90 and its 200-day moving average is $98.92. American Financial Group, Inc. has a 12 month low of $73.38 and a 12 month high of $105.58. The company has a market capitalization of $9.02 billion, a PE ratio of 11.56 and a beta of 0.84.

American Financial Group (NYSE:AFG) last announced its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.31. American Financial Group had a net margin of 11.89% and a return on equity of 11.66%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the company posted $1.28 EPS. The company’s revenue was up 3.7% on a year-over-year basis. On average, analysts expect that American Financial Group, Inc. will post $6.77 EPS for the current year.

A number of research firms have commented on AFG. Zacks Investment Research lowered shares of American Financial Group from a “buy” rating to a “hold” rating in a report on Tuesday. Buckingham Research began coverage on shares of American Financial Group in a report on Monday, September 11th. They set a “neutral” rating and a $103.00 target price for the company. Finally, BidaskClub lowered shares of American Financial Group from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $100.33.

American Financial Group 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.

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

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