American Financial Group (NYSE:AFG) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

American Financial Group (NYSE:AFG) had its target price raised by research analysts at Wells Fargo & Company from $158.00 to $173.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 22.69% from the company’s current price.

Several other analysts have also recently commented on AFG. Piper Sandler lifted their target price on shares of American Financial Group from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods increased their price target on American Financial Group from $140.00 to $148.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of American Financial Group in a report on Thursday, June 11th. Two 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 currently has an average rating of “Hold” and a consensus price target of $150.75.

American Financial Group Trading Down 0.1%

NYSE:AFG traded down $0.19 on Thursday, reaching $141.01. The stock had a trading volume of 174,008 shares, compared to its average volume of 577,674. The company has a market cap of $11.72 billion, a price-to-earnings ratio of 13.41 and a beta of 0.62. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.48 and a quick ratio of 0.48. The firm’s fifty day moving average is $134.62 and its two-hundred day moving average is $132.17. American Financial Group has a 12-month low of $122.11 and a 12-month high of $150.02.

American Financial Group (NYSE:AFG) last issued its quarterly 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). The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.70 billion. American Financial Group had a return on equity of 19.50% and a net margin of 10.76%.The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.81 earnings per share. Equities analysts expect that American Financial Group will post 11.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other American Financial Group news, SVP Michelle A. Gillis sold 2,247 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $139.00, for a total transaction of $312,333.00. Following the completion of the sale, the senior vice president owned 13,135 shares of the company’s stock, valued at approximately $1,825,765. The trade was a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $135.05, for a total value of $1,535,518.50. Following the sale, the insider owned 584,098 shares of the company’s stock, valued at $78,882,434.90. This represents a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 16.90% of the company’s stock.

Hedge Funds Weigh In On American Financial Group

A number of large investors have recently modified their holdings of AFG. Cassaday & Co Wealth Management LLC acquired a new position in shares of American Financial Group during the first quarter worth $26,000. Global Retirement Partners LLC boosted its stake in shares of American Financial Group by 904.8% in the fourth quarter. Global Retirement Partners LLC now owns 211 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 190 shares during the period. Clearstead Advisors LLC grew its holdings in American Financial Group by 87.7% during the 4th quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 121 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in American Financial Group during the 4th quarter valued at $45,000. Finally, CIBC Private Wealth Group LLC increased its stake in American Financial Group by 86.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 376 shares of the insurance provider’s stock worth $51,000 after buying an additional 174 shares during the period. 64.37% of the stock is currently owned by hedge funds and other institutional investors.

American Financial Group Company Profile

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.