American Financial Group (NYSE:AFG) Stock Price Target Raised at Wells Fargo & Company

American Financial Group (NYSE:AFG) had its target price increased by investment analysts at Wells Fargo & Company from $166.00 to $180.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 13.32% from the company’s previous close.

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

American Financial Group Trading Up 2.6%

NYSE:AFG opened at $158.85 on Thursday. The company has a 50-day moving average price of $144.40 and a 200-day moving average price of $136.76. American Financial Group has a 12 month low of $123.09 and a 12 month high of $158.09. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.38. The stock has a market cap of $13.17 billion, a price-to-earnings ratio of 12.99 and a beta of 0.55.

American Financial Group (NYSE:AFG) last announced its quarterly earnings results on Tuesday, November 3rd. The insurance provider reported $3.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.17. American Financial Group had a net margin of 11.96% and a return on equity of 22.50%. The company had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the previous year, the company earned $2.69 earnings per share. Equities analysts predict that American Financial Group will post 12.29 EPS for the current year.

Insider Buying and Selling

In other American Financial Group news, CFO Brian Hertzman sold 950 shares of the business’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $142.87, for a total value of $135,726.50. Following the sale, the chief financial officer directly owned 11,123 shares of the company’s stock, valued at approximately $1,589,143.01. The trade was a 7.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 16.90% of the company’s stock.

Hedge Funds Weigh In On American Financial Group

Several institutional investors and hedge funds have recently modified their holdings of AFG. BlackRock Inc. bought a new position in American Financial Group in the 2nd quarter worth about $1,079,329,000. Bank of New York Mellon Corp purchased a new stake in American Financial Group during the 2nd quarter valued at about $102,590,000. Bank of America Corp DE bought a new stake in American Financial Group during the 2nd quarter valued at about $53,939,000. Arrowstreet Capital Limited Partnership increased its stake in American Financial Group by 337.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 431,144 shares of the insurance provider’s stock valued at $55,061,000 after purchasing an additional 332,517 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in American Financial Group by 433.2% during the 1st quarter. First Trust Advisors LP now owns 316,974 shares of the insurance provider’s stock valued at $40,481,000 after purchasing an additional 257,522 shares in the last quarter. 64.37% of the stock is currently owned by institutional investors.

Key American Financial Group News

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

• Positive Sentiment: AFG’s adjusted third-quarter earnings were $3.97 per share, above the $3.80 analyst consensus, while revenue of $2.58 billion exceeded estimates of $2.40 billion. Net earnings rose to $282 million from $215 million a year earlier. Company earnings release
• Positive Sentiment: The company declared a one-time special cash dividend of $3.50 per share, payable November 25 to shareholders of record November 16. The payout adds a notable near-term return for shareholders. Special dividend announcement
• Negative Sentiment: Reported net income included $47 million, or $0.57 per share, in after-tax non-core losses—more than the $9 million loss in the year-ago quarter. The P&C combined ratio also worsened by 0.9 percentage points to 94%, though it remained below 100%. Combined ratio report

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.