Wells Fargo & Company Upgrades American Financial Group (NYSE:AFG) to Strong-Buy

American Financial Group (NYSE:AFG) was upgraded by analysts at Wells Fargo & Company to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other brokerages have also recently issued reports on AFG. Jefferies Financial Group restated a “hold” rating and issued a $142.00 target price on shares of American Financial Group in a report on Tuesday, November 11th. Piper Sandler boosted their target price on shares of American Financial Group from $130.00 to $139.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings downgraded American Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. According to MarketBeat, American Financial Group presently has a consensus rating of “Hold” and a consensus price target of $142.50.

American Financial Group Price Performance

Shares of AFG stock opened at $131.69 on Thursday. The stock has a fifty day simple moving average of $136.44 and a two-hundred day simple moving average of $134.71. American Financial Group has a twelve month low of $114.73 and a twelve month high of $150.02. The stock has a market capitalization of $10.98 billion, a price-to-earnings ratio of 13.83 and a beta of 0.70. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.38.

American Financial Group (NYSE:AFG) last announced its earnings results on Wednesday, November 5th. The insurance provider reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.34. The company 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 9.66% and a return on equity of 18.05%. American Financial Group’s revenue was up 13.4% compared to the same quarter last year. During the same period last year, the firm earned $2.31 earnings per share. On average, analysts predict that American Financial Group will post 10.5 EPS for the current fiscal year.

Insider Transactions at American Financial Group

In related news, CFO Brian S. Hertzman sold 1,777 shares of American Financial Group stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $142.51, for a total transaction of $253,240.27. Following the sale, the chief financial officer directly owned 11,300 shares in the company, valued at $1,610,363. The trade was a 13.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 17.40% of the stock is owned by insiders.

Institutional Investors Weigh In On American Financial Group

Large investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its holdings in American Financial Group by 3.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,640 shares of the insurance provider’s stock valued at $333,000 after buying an additional 83 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of American Financial Group by 11.5% in the third quarter. EverSource Wealth Advisors LLC now owns 884 shares of the insurance provider’s stock worth $129,000 after purchasing an additional 91 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of American Financial Group by 12.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 863 shares of the insurance provider’s stock worth $125,000 after buying an additional 93 shares during the period. Intrust Bank NA raised its stake in American Financial Group by 3.6% in the third quarter. Intrust Bank NA now owns 2,935 shares of the insurance provider’s stock worth $428,000 after buying an additional 102 shares in the last quarter. Finally, Diversified Trust Co raised its stake in shares of American Financial Group by 4.6% during the 2nd quarter. Diversified Trust Co now owns 2,356 shares of the insurance provider’s stock worth $297,000 after acquiring an additional 103 shares in the last quarter. 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.