American Financial Group (NYSE:AFG) Given New $147.00 Price Target at Keefe, Bruyette & Woods

American Financial Group (NYSE:AFG) had its price target cut by Keefe, Bruyette & Woods from $153.00 to $147.00 in a report published on Monday morning,Benzinga reports. They currently have a market perform rating on the insurance provider’s stock.

AFG has been the topic of several other research reports. Wells Fargo & Company increased their target price on American Financial Group from $158.00 to $173.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Weiss Ratings upgraded American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Piper Sandler lifted 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. Finally, Wall Street Zen lowered American Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, September 12th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $152.75.

American Financial Group Stock Performance

Shares of AFG stock opened at $143.88 on Monday. The firm’s 50 day moving average is $142.38 and its 200 day moving average is $137.47. The stock has a market capitalization of $11.93 billion, a P/E ratio of 12.58 and a beta of 0.59. American Financial Group has a 12 month low of $123.09 and a 12 month high of $148.71. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.38.

American Financial Group (NYSE:AFG) last released its quarterly earnings data on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.50. American Financial Group had a net margin of 11.51% and a return on equity of 20.35%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the business earned $2.14 EPS. American Financial Group’s revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that American Financial Group will post 12.29 earnings per share for the current year.

American Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Thursday, October 15th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This is a positive change from American Financial Group’s previous quarterly dividend of $0.88. This represents a $3.88 dividend on an annualized basis and a dividend yield of 2.7%. American Financial Group’s payout ratio is currently 33.92%.

Insider Transactions at American Financial Group

In related news, VP Mark A. Weiss sold 2,813 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $144.76, for a total transaction of $407,209.88. Following the completion of the transaction, the vice president owned 6,648 shares of the company’s stock, valued at approximately $962,364.48. The trade was a 29.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian S. Hertzman sold 950 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,589,143.01. This represents a 7.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 16.90% of the company’s stock.

Institutional Trading of American Financial Group

Several institutional investors and hedge funds have recently bought and sold shares of AFG. Wedmont Private Capital bought a new position in American Financial Group in the 3rd quarter worth about $203,000. GAMMA Investing LLC raised its holdings in shares of American Financial Group by 15.5% in the 3rd quarter. GAMMA Investing LLC now owns 3,007 shares of the insurance provider’s stock valued at $411,000 after acquiring an additional 404 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of American Financial Group by 91.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 9,560 shares of the insurance provider’s stock valued at $1,307,000 after acquiring an additional 4,560 shares in the last quarter. Applied Capital LLC FL raised its holdings in shares of American Financial Group by 2.8% in the 3rd quarter. Applied Capital LLC FL now owns 8,498 shares of the insurance provider’s stock valued at $1,162,000 after acquiring an additional 234 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of American Financial Group by 135.7% during the 3rd quarter. Versant Capital Management Inc now owns 264 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 152 shares during the last quarter. 64.37% of the stock is currently owned by hedge funds and other institutional investors.

About American Financial Group

American Financial Group, Inc is an insurance holding company headquartered in Cincinnati, Ohio. Through its Great American Insurance Group businesses, the company primarily provides property and casualty insurance products, with an emphasis on specialty commercial markets that require specialized underwriting expertise.

Its insurance offerings include coverage for commercial transportation, agriculture, workers’ compensation, excess and surplus risks, environmental exposures, inland marine, and other niche industries.