There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on February 26, American Financial Group Inc's Director, Gregory G. Joseph, invested $56,750.00 into 500 shares of AFG, for a cost per share of $113.50. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Monday, bargain hunters could buy shares of American Financial Group Inc (Symbol: AFG) and achieve a cost basis 2.6% cheaper than Joseph, with shares changing hands as low as $110.57 per share. American Financial Group Inc shares are currently trading up about 0.8% on the day. The chart below shows the one year performance of AFG shares, versus its 200 day moving average:
Looking at the chart above, AFG's low point in its 52 week range is $92.45 per share, with $121.69 as the 52 week high point - that compares with a last trade of $111.63. By comparison, below is a table showing the prices at which AFG insider buying was recorded over the last six months:
Purchased
Insider
Title
Shares
Price/Share
Value
02/26/2018
Gregory G. Joseph
Director
500
$113.50
$56,750.00
The current annualized dividend paid by American Financial Group Inc is $1.4/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 01/11/2018. Below is a long-term dividend history chart for AFG, which can be of good help in judging whether the most recent dividend with approx. 1.3% annualized yield is likely to continue.
According to the ETF Finder at ETF Channel, AFG makes up 2.66% of the SPDR S&P Insurance ETF (Symbol: KIE) which is trading up by about 1% on the day Monday.
Click here to find out which 9 other dividend bargains you can buy cheaper than insiders »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
