American Financial Group (NYSE:AFG) Lowered to “Hold” Rating by Wall Street Zen

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

A number of other equities analysts have also recently commented on AFG. Piper Sandler boosted 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. Weiss Ratings raised shares of American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Wells Fargo & Company raised their price objective 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. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of American Financial Group from $148.00 to $153.00 and gave the stock a “market perform” rating in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $156.00.

American Financial Group Stock Performance

NYSE:AFG opened at $141.88 on Friday. The business’s 50-day moving average price is $142.96 and its two-hundred day moving average price is $135.80. American Financial Group has a twelve month low of $123.09 and a twelve month high of $150.02. The stock has a market cap of $11.77 billion, a P/E ratio of 12.40 and a beta of 0.60. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.38.

American Financial Group (NYSE:AFG) last issued its quarterly earnings data on Tuesday, August 4th. The insurance provider reported $2.82 EPS for the quarter, topping the consensus estimate of $2.32 by $0.50. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.85 billion. American Financial Group had a return on equity of 20.35% and a net margin of 11.51%.American Financial Group’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.14 earnings per share. As a group, equities analysts predict that American Financial Group will post 12.13 EPS for the current fiscal year.

American Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Wednesday, July 15th were given a $0.88 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. American Financial Group’s payout ratio is presently 30.77%.

Insider Transactions at American Financial Group

In other American Financial Group news, insider David Thompson, Jr. sold 11,370 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $135.05, for a total transaction of $1,535,518.50. Following the transaction, the insider directly owned 584,098 shares in the company, valued at $78,882,434.90. This trade represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michelle Gillis sold 2,247 shares of American Financial Group stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $139.00, for a total transaction of $312,333.00. Following the transaction, the senior vice president directly owned 13,135 shares in the company, valued at $1,825,765. This trade represents a 14.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 17,380 shares of company stock worth $2,390,788 in the last three months. Corporate insiders own 16.90% of the company’s stock.

Hedge Funds Weigh In On American Financial Group

A number of large investors have recently added to or reduced their stakes in AFG. Louisiana State Employees Retirement System purchased a new position in shares of American Financial Group during the first quarter valued at about $2,567,000. First Trust Advisors LP lifted its holdings in American Financial Group by 433.2% in the first quarter. First Trust Advisors LP now owns 316,974 shares of the insurance provider’s stock worth $40,481,000 after buying an additional 257,522 shares during the period. Y Intercept Hong Kong Ltd lifted its holdings in American Financial Group by 281.1% in the first quarter. Y Intercept Hong Kong Ltd now owns 28,243 shares of the insurance provider’s stock worth $3,607,000 after buying an additional 20,832 shares during the period. Bank of Nova Scotia bought a new stake in American Financial Group during the 2nd quarter valued at approximately $6,760,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in American Financial Group by 377.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 49,681 shares of the insurance provider’s stock valued at $6,790,000 after acquiring an additional 39,279 shares in the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.

About American Financial Group

American Financial Group, Inc (NYSE:AFG) is an insurance holding company headquartered in Cincinnati, Ohio. Through its Great American Insurance Group subsidiaries, the company primarily underwrites specialty property and casualty insurance and sells annuity products.

Its property and casualty operations serve businesses, organizations and individuals through specialized products that include commercial transportation, agricultural and crop insurance, workers’ compensation, casualty coverage, financial institution insurance, surety and fidelity bonds, marine insurance, travel insurance and public-sector coverage.