American Financial Group (NYSE:AFG) Hits New 52-Week High – Here’s What Happened

American Financial Group, Inc. (NYSE:AFG)’s stock price reached a new 52-week high on Wednesday. The stock traded as high as $161.31 and last traded at $161.1940, with a volume of 496,256 shares trading hands. The stock had previously closed at $160.84.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AFG shares. Wall Street Zen downgraded American Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. Piper Sandler upped their price target on American Financial Group from $140.00 to $156.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Wells Fargo & Company increased their price objective on shares of American Financial Group from $166.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, November 5th. Oppenheimer set a $150.00 price objective on shares of American Financial Group in a research note on Monday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of American Financial Group in a research report on Wednesday, November 4th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $159.00.

American Financial Group Stock Performance

The company has a debt-to-equity ratio of 0.39, a current ratio of 0.52 and a quick ratio of 0.52. The stock has a 50-day moving average price of $146.25 and a 200-day moving average price of $137.62. The firm has a market capitalization of $13.31 billion, a PE ratio of 13.12 and a beta of 0.55.

American Financial Group (NYSE:AFG) last posted its quarterly earnings data on Tuesday, November 3rd. The insurance provider reported $3.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.17. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.40 billion. American Financial Group had a return on equity of 22.56% and a net margin of 11.96%. During the same period in the previous year, the business earned $2.69 EPS. On average, research analysts expect that American Financial Group, Inc. will post 12.51 EPS for the current fiscal year.

American Financial Group Announces Dividend

The company also recently disclosed 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 is Monday, November 16th. American Financial Group’s dividend payout ratio is presently 31.65%.

Insider Buying and Selling

In other news, CFO Brian Hertzman sold 950 shares of American Financial Group stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $142.87, for a total value of $135,726.50. Following the completion of the transaction, the chief financial officer owned 11,123 shares in the company, valued at approximately $1,589,143.01. This trade represents a 7.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On American Financial Group

Several large investors have recently added to or reduced their stakes in the company. Viking Fund Management LLC boosted its stake in American Financial Group by 21.8% in the third quarter. Viking Fund Management LLC now owns 123,000 shares of the insurance provider’s stock valued at $16,821,000 after acquiring an additional 22,000 shares during the period. M Holdings Securities Inc. acquired a new stake in shares of American Financial Group in the third quarter valued at approximately $2,242,000. First Trust Advisors LP increased its stake in shares of American Financial Group by 433.2% in the first quarter. First Trust Advisors LP now owns 316,974 shares of the insurance provider’s stock valued at $40,481,000 after purchasing an additional 257,522 shares during the period. Bank of Nova Scotia bought a new stake in shares of American Financial Group during the second quarter valued at approximately $6,760,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of American Financial Group during the second quarter valued at approximately $1,121,000. 64.37% of the stock is currently owned by institutional investors.

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.