American Financial Group (NYSE:AFG) Price Target Raised to $158.00

American Financial Group (NYSE:AFG) had its target price increased by Wells Fargo & Company from $155.00 to $158.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the insurance provider’s stock.

AFG has been the topic of a number of other research reports. Keefe, Bruyette & Woods upped their target price on American Financial Group from $134.00 to $140.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 25th. Piper Sandler upped their target price on American Financial Group from $129.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Finally, Weiss Ratings upgraded American Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 16th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $143.75.

American Financial Group Stock Down 0.3%

Shares of AFG opened at $131.37 on Wednesday. American Financial Group has a 52 week low of $120.52 and a 52 week high of $150.02. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $10.92 billion, a price-to-earnings ratio of 12.49 and a beta of 0.65. The stock’s 50-day moving average price is $129.92 and its 200-day moving average price is $132.39.

American Financial Group (NYSE:AFG) last issued its earnings results on Thursday, April 30th. The insurance provider reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.07). American Financial Group had a return on equity of 19.49% and a net margin of 10.76%.The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the previous year, the company earned $1.81 EPS. The firm’s quarterly revenue was down .1% compared to the same quarter last year. On average, sell-side analysts predict that American Financial Group will post 10.98 EPS for the current year.

American Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Wednesday, April 15th were given a dividend of $0.88 per share. The ex-dividend date was Wednesday, April 15th. This represents a $3.52 dividend on an annualized basis and a yield of 2.7%. American Financial Group’s dividend payout ratio is currently 33.46%.

Insider Transactions at American Financial Group

In other American Financial Group news, CFO Brian S. Hertzman sold 1,663 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $133.70, for a total transaction of $222,343.10. Following the transaction, the chief financial officer owned 12,073 shares in the company, valued at approximately $1,614,160.10. This represents a 12.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 16.90% of the company’s stock.

Hedge Funds Weigh In On American Financial Group

A number of hedge funds have recently bought and sold shares of the business. Cassaday & Co Wealth Management LLC acquired a new position in shares of American Financial Group during the first quarter valued at approximately $26,000. Global Retirement Partners LLC raised its holdings in shares of American Financial Group by 904.8% during the fourth quarter. Global Retirement Partners LLC now owns 211 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 190 shares during the last quarter. Root Financial Partners LLC acquired a new position in shares of American Financial Group during the third quarter valued at approximately $34,000. Clearstead Advisors LLC raised its holdings in shares of American Financial Group by 87.7% during the fourth quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 121 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of American Financial Group by 165.0% during the third quarter. Smartleaf Asset Management LLC now owns 273 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.

About American Financial Group

American Financial Group, Inc (NYSE: AFG) is a diversified holding company primarily engaged in property and casualty insurance and reinsurance. Through its flagship subsidiary, Great American Insurance Company, the firm underwrites a broad range of specialty insurance products for commercial and industrial clients, including inland marine, excess and surplus lines, executive liability, and environmental liability coverage. In addition, American Financial Group offers supplemental accident and health insurance and assumes reinsurance risks from other insurers, helping to diversify its underwriting portfolio.

The company traces its roots to 1946, when it was founded by Carl Lindner, Sr.