American Financial Group (NYSE:AFG) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of American Financial Group (NYSE:AFG) from a buy rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

AFG has been the topic of a number of other reports. Wells Fargo & Company increased their price target on American Financial Group from $166.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Weiss Ratings raised American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Piper Sandler upped their price objective on American Financial Group from $140.00 to $156.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Finally, Keefe, Bruyette & Woods reduced their price objective on American Financial Group from $153.00 to $147.00 and set a “market perform” rating for the company in a report on Monday, October 12th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $155.60.

American Financial Group Stock Up 2.0%

Shares of AFG stock opened at $157.63 on Friday. The stock has a market cap of $13.07 billion, a P/E ratio of 11.99 and a beta of 0.55. American Financial Group has a one year low of $123.09 and a one year high of $159.61. The stock has a fifty day moving average price of $145.15 and a 200 day moving average price of $137.13. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.49 and a quick ratio of 0.49.

American Financial Group (NYSE:AFG) last announced its quarterly earnings results on Tuesday, November 3rd. The insurance provider reported $3.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.17. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.40 billion. American Financial Group had a net margin of 11.96% and a return on equity of 22.50%. During the same quarter in the previous year, the firm posted $2.69 EPS. Analysts predict that American Financial Group will post 12.29 earnings per share for the current year.

American Financial Group Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 16th will be given a $3.50 dividend. The ex-dividend date is Monday, November 16th. American Financial Group’s dividend payout ratio (DPR) is currently 31.65%.

Insider Buying and Selling at American Financial Group

In related news, CFO Brian Hertzman sold 950 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $142.87, for a total value of $135,726.50. Following the completion of the transaction, the chief financial officer directly owned 11,123 shares in the company, valued at $1,589,143.01. This trade represents a 7.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 16.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AFG. Intech Investment Management LLC grew its position in American Financial Group by 30.3% in the third quarter. Intech Investment Management LLC now owns 28,384 shares of the insurance provider’s stock valued at $3,882,000 after acquiring an additional 6,600 shares in the last quarter. West Family Investments Inc. raised its holdings in American Financial Group by 7.7% during the 3rd quarter. West Family Investments Inc. now owns 2,392 shares of the insurance provider’s stock worth $327,000 after buying an additional 170 shares during the period. Bessemer Group Inc. raised its holdings in American Financial Group by 58.5% during the 3rd quarter. Bessemer Group Inc. now owns 699 shares of the insurance provider’s stock worth $96,000 after buying an additional 258 shares during the period. Hantz Financial Services Inc. lifted its stake in American Financial Group by 6.8% in the third quarter. Hantz Financial Services Inc. now owns 2,492 shares of the insurance provider’s stock valued at $341,000 after buying an additional 159 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in American Financial Group by 0.6% in the third quarter. Allworth Financial LP now owns 51,649 shares of the insurance provider’s stock valued at $7,228,000 after buying an additional 290 shares in the last quarter. 64.37% of the stock is currently owned by hedge funds and other institutional investors.

American Financial Group Company Profile

American Financial Group, Inc is an insurance holding company headquartered in Cincinnati, Ohio. Through Great American Insurance Group, it provides property and casualty insurance, with a focus on specialty commercial markets and coverage tailored to specific industries and customer needs.

Its products include insurance for businesses, farms and agricultural operations, and individuals, offered through a network of independent agents and brokers. AFG’s insurance operations serve customers primarily in the United States, with some products and services available internationally.

The company traces its roots to 1959, while its Great American Insurance Company subsidiary was founded in 1872.