American Financial Group (NYSE:AFG) Rating Lowered to Hold at Wall Street Zen

American Financial Group (NYSE:AFG) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other research analysts have also commented on the company. Piper Sandler increased their price objective on American Financial Group from $140.00 to $156.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. 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 report on Tuesday, August 11th. Weiss Ratings raised American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Finally, Wells Fargo & Company upped 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. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $156.00.

American Financial Group Trading Down 0.1%

AFG stock opened at $141.88 on Friday. The business has a fifty day moving average price of $142.96 and a 200 day moving average price of $135.85. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.49 and a quick ratio of 0.49. American Financial Group has a fifty-two week low of $123.09 and a fifty-two week high of $150.02. The stock has a market capitalization of $11.77 billion, a price-to-earnings ratio of 12.40 and a beta of 0.60.

American Financial Group (NYSE:AFG) last posted its quarterly earnings data on Tuesday, August 4th. The insurance provider reported $2.82 EPS for the quarter, topping 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 company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the firm earned $2.14 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. Analysts expect that American Financial Group will post 12.13 EPS for the current fiscal year.

Insider Activity

In related news, insider David Thompson, Jr. sold 11,370 shares of American Financial Group 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 owned 584,098 shares of the company’s stock, valued at $78,882,434.90. This trade represents a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michelle Gillis sold 2,247 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president directly owned 13,135 shares of the company’s stock, valued at $1,825,765. The trade was a 14.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 17,380 shares of company stock valued at $2,390,788. Insiders own 16.90% of the company’s stock.

Institutional Investors Weigh In On American Financial Group

Several large investors have recently modified their holdings of the business. Royal Bank of Canada increased its stake in American Financial Group by 11.1% during the 1st quarter. Royal Bank of Canada now owns 75,421 shares of the insurance provider’s stock worth $9,905,000 after purchasing an additional 7,554 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in American Financial Group in the first quarter valued at approximately $2,330,000. Jones Financial Companies Lllp lifted its stake in 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 buying an additional 758 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in 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 buying an additional 469 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of American Financial Group by 62.4% in the second quarter. Cerity Partners LLC now owns 2,941 shares of the insurance provider’s stock valued at $371,000 after buying an additional 1,130 shares during the period. 64.37% of the stock is currently owned by institutional investors.

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.