American Financial Group (NYSE:AFG) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of American Financial Group (NYSE:AFG) 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 firms have also weighed in on AFG. Wells Fargo & Company raised their target price on shares of American Financial Group from $166.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday. Piper Sandler upped their price target 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. Weiss Ratings raised American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Finally, Keefe, Bruyette & Woods lowered their price objective on American Financial Group from $153.00 to $147.00 and set a “market perform” rating on the stock in a research note on Monday, October 12th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $156.25.

American Financial Group Price Performance

Shares of NYSE AFG opened at $154.57 on Friday. The firm has a 50-day simple moving average of $144.87 and a 200-day simple moving average of $137.00. 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 capitalization of $12.82 billion, a price-to-earnings ratio of 12.61 and a beta of 0.55. American Financial Group has a 52 week low of $123.09 and a 52 week high of $159.61.

American Financial Group (NYSE:AFG) last posted its quarterly earnings results on Tuesday, November 3rd. The insurance provider reported $3.97 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the business posted $2.69 earnings per share. On average, equities analysts predict that American Financial Group will post 12.29 earnings per share for the current fiscal year.

American Financial Group Dividend Announcement

The company also recently announced a special dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, November 16th will be paid a dividend of $3.50 per share. The ex-dividend date of this dividend is Monday, November 16th. American Financial Group’s payout ratio is 31.65%.

Insiders Place Their Bets

In other American Financial Group 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 value 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 16.90% of the stock is owned by insiders.

Institutional Trading of American Financial Group

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in American Financial Group in the second quarter worth approximately $1,079,329,000. Dimensional Fund Advisors LP raised its position in American Financial Group by 19.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,506,510 shares of the insurance provider’s stock valued at $192,395,000 after purchasing an additional 240,509 shares during the period. Bank of New York Mellon Corp purchased a new stake in American Financial Group in the second quarter valued at $102,590,000. Arrowstreet Capital Limited Partnership raised its position in American Financial Group by 337.1% in the first 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 during the period. Finally, Bahl & Gaynor LLC lifted its stake in shares of American Financial Group by 1.8% in the 3rd quarter. Bahl & Gaynor LLC now owns 399,671 shares of the insurance provider’s stock valued at $54,659,000 after purchasing an additional 6,954 shares during the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.

American Financial Group Company Profile

American Financial Group, Inc is an insurance holding company headquartered in Cincinnati, Ohio. Through Great American Insurance Group, it provides property and casualty insurance, with a focus on specialty commercial markets and coverage tailored to specific industries and customer needs.

Its products include insurance for businesses, farms and agricultural operations, and individuals, offered through a network of independent agents and brokers. AFG’s insurance operations serve customers primarily in the United States, with some products and services available internationally.

The company traces its roots to 1959, while its Great American Insurance Company subsidiary was founded in 1872.