American Financial Group (NYSE:AFG) Price Target Raised to $140.00
by Sarita Garza · The Markets DailyAmerican Financial Group (NYSE:AFG – Free Report) had its price target hoisted by Keefe, Bruyette & Woods from $134.00 to $140.00 in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has a market perform rating on the insurance provider’s stock.
Other equities analysts have also issued research reports about the company. Weiss Ratings upgraded American Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 16th. Wells Fargo & Company decreased their price target on shares of American Financial Group from $165.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $145.25.
Check Out Our Latest Analysis on AFG
American Financial Group Trading Down 2.6%
Shares of NYSE:AFG opened at $125.58 on Wednesday. American Financial Group has a 12-month low of $114.73 and a 12-month high of $150.02. The business’s fifty day simple moving average is $129.35 and its 200-day simple moving average is $134.60. The company has a market capitalization of $10.46 billion, a PE ratio of 12.47 and a beta of 0.69. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.38.
American Financial Group (NYSE:AFG – Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $3.65 EPS for the quarter, topping the consensus estimate of $3.18 by $0.47. The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.79 billion. American Financial Group had a return on equity of 18.64% and a net margin of 10.30%.The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $3.12 EPS. As a group, equities research analysts predict that American Financial Group will post 10.5 earnings per share for the current fiscal year.
American Financial Group Announces Dividend
The firm also recently disclosed a special dividend, which was paid on Wednesday, February 25th. Stockholders of record on Monday, February 16th were issued a dividend of $1.50 per share. The ex-dividend date was Friday, February 13th. American Financial Group’s dividend payout ratio is currently 34.96%.
Insider Buying and Selling at American Financial Group
In related news, CFO Brian S. Hertzman sold 1,663 shares of the business’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $133.70, for a total transaction of $222,343.10. Following the transaction, the chief financial officer directly owned 12,073 shares in the company, valued at $1,614,160.10. The trade was a 12.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 17.40% of the stock is owned by insiders.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Alpine Bank Wealth Management acquired a new stake in American Financial Group in the third quarter worth about $30,000. Global Retirement Partners LLC increased its holdings in shares of American Financial Group by 904.8% during the fourth quarter. Global Retirement Partners LLC now owns 211 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 190 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of American Financial Group during the third quarter valued at about $34,000. Clearstead Advisors LLC raised its position in shares of American Financial Group by 87.7% in the 4th quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 121 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of American Financial Group by 165.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 273 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 170 shares during the last quarter. 64.37% of the stock is owned by institutional investors and hedge funds.
About American Financial Group
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.