American Financial Group (NYSE:AFG) Sets New 1-Year High After Analyst Upgrade

American Financial Group, Inc. (NYSE:AFG) shares hit a new 52-week high on Thursday after Wells Fargo & Company raised their price target on the stock from $166.00 to $180.00. Wells Fargo & Company currently has an overweight rating on the stock. American Financial Group traded as high as $159.36 and last traded at $159.1590, with a volume of 16,106 shares. The stock had previously closed at $154.77.

Other analysts also recently issued reports about the company. Wall Street Zen raised American Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Piper Sandler increased their price objective on American Financial Group from $140.00 to $156.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Weiss Ratings upgraded American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Finally, Keefe, Bruyette & Woods dropped their target price on American Financial Group from $153.00 to $147.00 and set a “market perform” rating on the stock in a report on Monday, October 12th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $156.25.

Insider Buying and Selling at American Financial Group

In other news, CFO Brian Hertzman sold 950 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $142.87, for a total transaction of $135,726.50. Following the transaction, the chief financial officer directly owned 11,123 shares in the company, valued at $1,589,143.01. The trade was a 7.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 16.90% of the stock is currently owned by insiders.

Key Headlines Impacting American Financial Group

Here are the key news stories impacting American Financial Group this week:

• Positive Sentiment: AFG reported adjusted third-quarter earnings of $3.97 per share, above the $3.80 analyst estimate, while revenue of $2.58 billion also exceeded expectations of $2.40 billion. Net earnings rose to $282 million from $215 million a year earlier. Third-quarter results and dividend announcement
• Positive Sentiment: The company declared a one-time $3.50-per-share special cash dividend, payable November 25 to shareholders of record November 16. The payout may support investor demand, though it is not a recurring dividend increase. Special dividend announcement
• Positive Sentiment: Wells Fargo raised its price target from $166 to $180 and reiterated an “overweight” rating, signaling a more optimistic outlook. Price-target update
• Negative Sentiment: AFG’s property-and-casualty combined ratio worsened by 90 basis points to 94%. Although still below 100%, the deterioration points to somewhat weaker underwriting performance. Combined-ratio coverage

Institutional Investors Weigh In On American Financial Group

A number of institutional investors have recently added to or reduced their stakes in the business. Cassaday & Co Wealth Management LLC purchased a new position in shares of American Financial Group during the 1st quarter worth approximately $26,000. Heritage Family Offices LLP acquired a new stake in shares of American Financial Group in the 3rd quarter valued at approximately $29,000. Global Retirement Partners LLC acquired a new stake in shares of American Financial Group in the 2nd quarter valued at approximately $32,000. Versant Capital Management Inc boosted its stake in shares of American Financial Group by 135.7% in the third quarter. Versant Capital Management Inc now owns 264 shares of the insurance provider’s stock valued at $36,000 after buying an additional 152 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. purchased a new stake in shares of American Financial Group in the second quarter valued at approximately $42,000. Hedge funds and other institutional investors own 64.37% of the company’s stock.

American Financial Group Price Performance

The stock has a fifty day moving average of $144.40 and a two-hundred day moving average of $136.76. The stock has a market cap of $13.14 billion, a price-to-earnings ratio of 12.92 and a beta of 0.55. 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 released its earnings results on Tuesday, November 3rd. The insurance provider reported $3.97 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.17. American Financial Group had a return on equity of 22.50% and a net margin of 11.96%. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter last year, the company earned $2.69 earnings per share. On average, equities research analysts anticipate that American Financial Group, Inc. will post 12.29 earnings per share for the current year.

American Financial Group Dividend Announcement

The business also recently announced a special dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, November 16th will be given a dividend of $3.50 per share. The ex-dividend date is Monday, November 16th. American Financial Group’s dividend payout ratio is presently 33.92%.

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 operations, the company primarily provides property and casualty insurance, with an emphasis on specialty commercial products and markets.

Its insurance offerings serve businesses, organizations and individuals across a range of industries. Product lines have included commercial property and liability coverage, workers’ compensation, transportation, agriculture and crop insurance, marine and other specialty risks.