Trading Report: The Wealth Enhancement Advisory Services LLC invests in American Financial Group Inc. (AFG) Shares

The Wealth Enhancement Advisory Services LLC invests in American Financial Group Inc. (AFG) Shares

Wealth Enhancement Advisory Services LLC raised its stake in shares of American Financial Group Inc. (NYSE:AFG) by 13.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,011 shares of the company’s stock after buying an additional 3,092 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in American Financial Group were worth $1,923,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. State Street Corp raised its stake in American Financial Group by 1.4% in the first quarter. State Street Corp now owns 2,189,350 shares of the company’s stock valued at $154,060,000 after buying an additional 30,672 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in American Financial Group by 21.2% in the first quarter. Goldman Sachs Group Inc. now owns 571,154 shares of the company’s stock valued at $40,192,000 after buying an additional 99,834 shares during the last quarter. Geode Capital Management LLC raised its stake in American Financial Group by 3.8% in the first quarter. Geode Capital Management LLC now owns 447,419 shares of the company’s stock valued at $31,484,000 after buying an additional 16,235 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of American Financial Group by 32.0% in the first quarter. JPMorgan Chase & Co. now owns 327,885 shares of the company’s stock worth $23,072,000 after buying an additional 79,411 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of American Financial Group by 832.5% in the first quarter. Renaissance Technologies LLC now owns 284,400 shares of the company’s stock worth $20,013,000 after buying an additional 253,900 shares during the period. 59.85% of the stock is currently owned by institutional investors.

American Financial Group Inc. (NYSE:AFG) traded up 0.03% on Monday, hitting $76.27. 50,100 shares of the company traded hands. American Financial Group Inc. has a 12 month low of $64.87 and a 12 month high of $76.93. The stock has a market cap of $6.63 billion, a PE ratio of 19.50 and a beta of 0.76. The stock’s 50-day moving average is $75.09 and its 200 day moving average is $72.52.

American Financial Group (NYSE:AFG) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.01. American Financial Group had a net margin of 5.46% and a return on equity of 9.74%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the business earned $1.28 EPS. American Financial Group’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities research analysts expect that American Financial Group Inc. will post $5.70 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Friday, October 14th will be paid a dividend of $0.3125 per share. This is a positive change from American Financial Group’s previous quarterly dividend of $0.28. This represents a $1.25 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Wednesday, October 12th. American Financial Group’s dividend payout ratio (DPR) is currently 31.89%.

AFG has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of American Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 12th. Sandler O’Neill upgraded shares of American Financial Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $74.00 to $81.00 in a research report on Friday, August 12th. Finally, Janney Montgomery Scott reiterated a “buy” rating on shares of American Financial Group in a research report on Thursday, June 30th.

In related news, Director Terry S. Jacobs sold 1,223 shares of American Financial Group stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $71.56, for a total transaction of $87,517.88. Following the sale, the director now directly owns 2,400 shares in the company, valued at approximately $171,744. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Carl H. Lindner III sold 100,000 shares of American Financial Group stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $71.81, for a total transaction of $7,181,000.00. The disclosure for this sale can be found here. 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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