American Financial Group (NYSE:AFG) Sets New 1-Year High – What’s Next?

American Financial Group, Inc. (NYSE:AFG)’s share price hit a new 52-week high on Wednesday. The stock traded as high as $161.31 and last traded at $161.1940, with a volume of 496,256 shares changing hands. The stock had previously closed at $160.84.

Wall Street Analysts Forecast Growth

AFG has been the subject of a number of analyst reports. Oppenheimer set a $150.00 price target on American Financial Group in a research report on Monday. Wall Street Zen lowered American Financial Group from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings restated a “buy (b)” rating on shares of American Financial Group in a research note on Wednesday, November 4th. Wells Fargo & Company lifted their price objective on shares of American Financial Group from $166.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of American Financial Group from $147.00 to $150.00 and gave the stock a “market perform” rating in a report on Monday. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.00.

American Financial Group Price Performance

The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average of $145.52 and a two-hundred day moving average of $137.29. The firm has a market cap of $13.34 billion, a P/E ratio of 13.15 and a beta of 0.55.

American Financial Group (NYSE:AFG) last issued its quarterly earnings results on Tuesday, November 3rd. The insurance provider reported $3.97 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.17. American Financial Group had a net margin of 11.96% and a return on equity of 22.56%. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the prior year, the company earned $2.69 EPS. Sell-side analysts expect that American Financial Group, Inc. will post 12.44 EPS for the current year.

American Financial Group Announces Dividend

The firm also recently announced a special dividend, which will be paid on Wednesday, November 25th. Investors of record on Monday, November 16th will be paid a dividend of $3.50 per share. The ex-dividend date of this dividend is Monday, November 16th. American Financial Group’s dividend payout ratio is currently 31.65%.

Insiders Place Their Bets

In related news, CFO Brian Hertzman sold 301 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $155.29, for a total transaction of $46,742.29. Following the completion of the sale, the chief financial officer directly owned 1,553 shares in the company, valued at approximately $241,165.37. This trade represents a 16.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 16.90% of the company’s stock.

Institutional Investors Weigh In On American Financial Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of American Financial Group during the 2nd quarter worth $1,079,329,000. Bank of New York Mellon Corp acquired a new stake in shares of American Financial Group during the second quarter worth $102,590,000. Bank of America Corp DE acquired a new stake in shares of American Financial Group during the second quarter worth $53,939,000. Arrowstreet Capital Limited Partnership raised its position in shares of American Financial Group by 337.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 431,144 shares of the insurance provider’s stock worth $55,061,000 after purchasing an additional 332,517 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of American Financial Group by 433.2% during the first quarter. First Trust Advisors LP now owns 316,974 shares of the insurance provider’s stock valued at $40,481,000 after purchasing an additional 257,522 shares during the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.

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.