American Financial Group (NYSE:AFG) Upgraded 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 report released on Saturday morning.

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

American Financial Group Stock Up 0.2%

Shares of NYSE:AFG opened at $146.51 on Friday. American Financial Group has a fifty-two week low of $123.09 and a fifty-two week high of $150.02. The firm’s 50 day moving average price is $140.37 and its 200 day moving average price is $134.03. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.38. The stock has a market cap of $12.15 billion, a price-to-earnings ratio of 12.81 and a beta of 0.62.

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

American Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Wednesday, July 15th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.4%. The ex-dividend date was Wednesday, July 15th. American Financial Group’s dividend payout ratio (DPR) is currently 30.77%.

Insider Activity at American Financial Group

In other American Financial Group news, VP Mark A. Weiss sold 2,813 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $144.76, for a total value of $407,209.88. Following the completion of the transaction, the vice president owned 6,648 shares in the company, valued at $962,364.48. This represents a 29.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Michelle A. Gillis sold 2,247 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $139.00, for a total transaction of $312,333.00. Following the completion of the transaction, the senior vice president owned 13,135 shares of the company’s stock, valued at $1,825,765. This represents a 14.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,430 shares of company stock valued at $2,255,061 over the last ninety days. Insiders own 16.90% of the company’s stock.

Institutional Trading of American Financial Group

A number of large investors have recently made changes to their positions in AFG. Royal Bank of Canada increased its position in American Financial Group by 11.1% during the first quarter. Royal Bank of Canada now owns 75,421 shares of the insurance provider’s stock worth $9,905,000 after buying an additional 7,554 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in American Financial Group in the first quarter valued at approximately $2,330,000. Jones Financial Companies Lllp boosted its holdings in shares of American Financial Group by 145.8% in the first quarter. Jones Financial Companies Lllp now owns 1,278 shares of the insurance provider’s stock valued at $168,000 after acquiring an additional 758 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of American Financial Group by 144.8% in the second quarter. EverSource Wealth Advisors LLC now owns 793 shares of the insurance provider’s stock valued at $100,000 after acquiring an additional 469 shares during the period. Finally, Cerity Partners LLC grew its position in shares of American Financial Group by 62.4% during the second quarter. Cerity Partners LLC now owns 2,941 shares of the insurance provider’s stock worth $371,000 after acquiring an additional 1,130 shares during the last quarter. 64.37% of the stock is owned by institutional investors and hedge funds.

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.