American Financial Group (NYSE:AFG) Price Target Raised to $139.00

American Financial Group (NYSE:AFG) had its target price raised by Piper Sandler from $130.00 to $139.00 in a report issued on Thursday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the insurance provider’s stock.

Several other analysts have also commented on AFG. Keefe, Bruyette & Woods cut their price objective on American Financial Group from $127.00 to $124.00 and set a “market perform” rating for the company in a report on Tuesday, August 12th. Weiss Ratings restated a “hold (c+)” rating on shares of American Financial Group in a research note on Wednesday, October 8th. Jefferies Financial Group upped their price target on shares of American Financial Group from $125.00 to $130.00 and gave the company a “hold” rating in a research report on Monday, August 11th. Finally, Wall Street Zen raised shares of American Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $134.00.

American Financial Group Stock Up 1.1%

AFG opened at $143.03 on Thursday. The stock has a market capitalization of $11.93 billion, a price-to-earnings ratio of 15.72 and a beta of 0.78. The firm has a 50 day moving average price of $138.61 and a 200-day moving average price of $130.78. American Financial Group has a twelve month low of $114.73 and a twelve month high of $150.19. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.33.

American Financial Group (NYSE:AFG) last posted its earnings results on Tuesday, November 4th. The insurance provider reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.34. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.02 billion. American Financial Group had a net margin of 9.21% and a return on equity of 17.41%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.31 EPS. Equities research analysts forecast that American Financial Group will post 10.5 earnings per share for the current year.

American Financial Group Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Monday, November 17th. American Financial Group’s payout ratio is presently 36.97%.

Insider Transactions at American Financial Group

In related news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $134.31, for a total value of $1,343,100.00. Following the completion of the sale, the director directly owned 326,730 shares of the company’s stock, valued at approximately $43,883,106.30. This represents a 2.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On American Financial Group

A number of hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP bought a new stake in shares of American Financial Group during the 3rd quarter valued at $248,000. JPMorgan Chase & Co. increased its stake in American Financial Group by 32.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 407,772 shares of the insurance provider’s stock worth $59,421,000 after buying an additional 99,898 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in American Financial Group by 13.9% during the third quarter. PNC Financial Services Group Inc. now owns 6,811 shares of the insurance provider’s stock valued at $992,000 after acquiring an additional 829 shares during the period. Aberdeen Group plc raised its holdings in American Financial Group by 145.8% during the third quarter. Aberdeen Group plc now owns 10,773 shares of the insurance provider’s stock valued at $1,565,000 after acquiring an additional 6,391 shares during the period. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of American Financial Group in the third quarter valued at about $277,000. 64.37% of the stock is currently owned by institutional investors.

American Financial Group Company Profile

American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. The company offers property and transportation insurance products, such as physical damage and liability coverage for buses and trucks, inland and ocean marine, agricultural-related products, and other commercial property and specialty transportation coverages; specialty casualty insurance, including primarily excess and surplus, executive and professional liability, general liability, umbrella and excess liability, and specialty coverage in targeted markets, as well as customized programs for small to mid-sized businesses and workers’ compensation insurance; and specialty financial insurance products comprising risk management insurance programs for lending and leasing institutions, fidelity and surety products, and trade credit insurance.