American Financial Group, Inc. (NYSE:AFG) Receives Average Recommendation of “Hold” from Brokerages

American Financial Group, Inc. (NYSE:AFG) has been given an average rating of “Hold” by the five brokerages that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $145.00.

Several analysts recently weighed in on AFG shares. Wells Fargo & Company lifted their price target on shares of American Financial Group from $155.00 to $158.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Piper Sandler raised their price objective on American Financial Group from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. Weiss Ratings raised American Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 16th. Finally, Keefe, Bruyette & Woods raised their price objective on American Financial Group from $134.00 to $140.00 and gave the company a “market perform” rating in a research report on Wednesday, March 25th.

American Financial Group Stock Up 1.2%

Shares of American Financial Group stock opened at $134.00 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.48 and a current ratio of 0.48. American Financial Group has a 52-week low of $121.98 and a 52-week high of $150.02. The stock has a market capitalization of $11.13 billion, a price-to-earnings ratio of 12.74 and a beta of 0.64. The company’s 50 day moving average price is $132.01 and its 200-day moving average price is $131.88.

American Financial Group (NYSE:AFG) last issued its earnings results on Thursday, April 30th. The insurance provider reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.54 by ($0.07). The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.70 billion. American Financial Group had a return on equity of 19.50% and a net margin of 10.76%.The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.81 EPS. Equities research analysts forecast that American Financial Group will post 11.37 EPS for the current year.

American Financial Group Dividend Announcement

The company also recently disclosed 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 of this dividend was Wednesday, April 15th. This represents a $3.52 annualized dividend and a yield of 2.6%. American Financial Group’s dividend payout ratio (DPR) is currently 33.46%.

Hedge Funds Weigh In On American Financial Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in American Financial Group by 24.0% during the first quarter. Bank of America Corp DE now owns 294,396 shares of the insurance provider’s stock valued at $37,597,000 after buying an additional 57,023 shares during the period. Janus Henderson Group PLC raised its position in shares of American Financial Group by 487.7% in the 1st quarter. Janus Henderson Group PLC now owns 30,500 shares of the insurance provider’s stock worth $3,894,000 after purchasing an additional 25,310 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of American Financial Group by 5.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 151,888 shares of the insurance provider’s stock worth $19,398,000 after purchasing an additional 8,220 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of American Financial Group by 7.9% in the 1st quarter. Quantinno Capital Management LP now owns 48,326 shares of the insurance provider’s stock worth $6,172,000 after purchasing an additional 3,532 shares during the last quarter. Finally, SummitTX Capital L.P. purchased a new position in shares of American Financial Group in the 1st quarter worth about $278,000. 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.