American Financial Group (NYSE:AFG) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of American Financial Group (NYSE:AFG) from a hold rating to a buy rating in a research note published on Saturday.

Several other analysts have also issued reports on AFG. Wells Fargo & Company boosted their target price on shares of American Financial Group from $158.00 to $173.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Weiss Ratings upgraded shares of American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. Keefe, Bruyette & Woods increased their price target on shares of American Financial Group from $148.00 to $153.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 11th. Finally, Piper Sandler lifted their price target on shares of American Financial Group from $140.00 to $156.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, American Financial Group currently has a consensus rating of “Hold” and a consensus target price of $156.00.

American Financial Group Trading Up 0.3%

Shares of NYSE:AFG opened at $146.15 on Friday. The stock has a market capitalization of $12.12 billion, a price-to-earnings ratio of 12.78 and a beta of 0.62. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.49 and a current ratio of 0.49. The stock’s 50-day simple moving average is $140.07 and its two-hundred day simple moving average is $133.85. American Financial Group has a 52-week low of $123.09 and a 52-week high of $150.02.

American Financial Group (NYSE:AFG) last released its quarterly earnings results on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.50. American Financial Group had a return on equity of 20.35% and a net margin of 11.51%.The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the company posted $2.14 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts expect that American Financial Group will post 11.73 EPS for the current year.

American Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Wednesday, July 15th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, July 15th. American Financial Group’s payout ratio is presently 30.77%.

Insider Activity at American Financial Group

In related news, SVP Michelle A. Gillis sold 2,247 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $139.00, for a total value of $312,333.00. Following the completion of the sale, the senior vice president directly owned 13,135 shares of the company’s stock, valued at approximately $1,825,765. This represents a 14.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Mark A. Weiss sold 2,813 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $144.76, for a total transaction of $407,209.88. Following the completion of the sale, the vice president directly owned 6,648 shares of the company’s stock, valued at $962,364.48. This represents a 29.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 16,430 shares of company stock worth $2,255,061. 16.90% of the stock is owned by company insiders.

Institutional Trading of American Financial Group

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of American Financial Group during the 2nd quarter valued at $1,079,329,000. Charles Schwab Investment Management Inc. boosted its holdings in American Financial Group by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,567,721 shares of the insurance provider’s stock worth $350,956,000 after buying an additional 57,246 shares during the period. Geode Capital Management LLC increased its stake in American Financial Group by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,732,557 shares of the insurance provider’s stock worth $236,645,000 after buying an additional 29,731 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in American Financial Group by 19.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,506,510 shares of the insurance provider’s stock worth $192,395,000 after buying an additional 240,509 shares in the last quarter. Finally, Northern Trust Corp increased its stake in American Financial Group by 33.2% in the 3rd quarter. Northern Trust Corp now owns 1,026,783 shares of the insurance provider’s stock worth $149,623,000 after buying an additional 255,693 shares in the last quarter. 64.37% of the stock is owned by hedge funds and other institutional investors.

American Financial Group Company Profile

American Financial Group, Inc (NYSE: AFG) is a diversified holding company primarily engaged in property and casualty insurance and reinsurance. Through its flagship subsidiary, Great American Insurance Company, the firm underwrites a broad range of specialty insurance products for commercial and industrial clients, including inland marine, excess and surplus lines, executive liability, and environmental liability coverage. In addition, American Financial Group offers supplemental accident and health insurance and assumes reinsurance risks from other insurers, helping to diversify its underwriting portfolio.

The company traces its roots to 1946, when it was founded by Carl Lindner, Sr.