American Financial Group (NYSE:AFG) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of American Financial Group (NYSE:AFG) from a hold rating to a buy rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Several other equities analysts have also recently weighed in on AFG. Wells Fargo & Company dropped their price target on shares of American Financial Group from $175.00 to $166.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Piper Sandler boosted their price objective on American Financial Group from $140.00 to $156.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Keefe, Bruyette & Woods decreased their price objective on American Financial Group from $153.00 to $147.00 and set a “market perform” rating for the company in a report on Monday, October 12th. Finally, Weiss Ratings raised American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $152.75.

American Financial Group Stock Performance

NYSE AFG opened at $149.25 on Friday. The company has a market cap of $12.38 billion, a P/E ratio of 13.05 and a beta of 0.59. The company has a fifty day simple moving average of $142.50 and a 200 day simple moving average of $137.93. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.38. American Financial Group has a 12-month low of $123.09 and a 12-month high of $149.31.

American Financial Group (NYSE:AFG) last released its quarterly earnings data on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.50. American Financial Group had a net margin of 11.51% and a return on equity of 20.35%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the company posted $2.14 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. Sell-side analysts predict that American Financial Group will post 12.29 earnings per share for the current fiscal year.

American Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Thursday, October 15th will be issued a dividend of $0.97 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $3.88 dividend on an annualized basis and a yield of 2.6%. This is a positive change from American Financial Group’s previous quarterly dividend of $0.88. American Financial Group’s payout ratio is presently 33.92%.

Insiders Place Their Bets

In other news, CFO Brian Hertzman sold 950 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $142.87, for a total value of $135,726.50. Following the completion of the sale, the chief financial officer owned 11,123 shares in the company, valued at $1,589,143.01. This represents a 7.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Mark Weiss sold 2,813 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $144.76, for a total transaction of $407,209.88. Following the completion of the sale, the vice president owned 6,648 shares of the company’s stock, valued at approximately $962,364.48. The trade was a 29.73% decrease in their position. The SEC filing for this sale provides additional information. 16.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ZWJ Investment Counsel Inc. grew its position in American Financial Group by 4.9% during the third quarter. ZWJ Investment Counsel Inc. now owns 1,502 shares of the insurance provider’s stock valued at $205,000 after buying an additional 70 shares during the period. Steph & Co. increased its holdings in American Financial Group by 11.5% during the first quarter. Steph & Co. now owns 787 shares of the insurance provider’s stock valued at $101,000 after buying an additional 81 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in American Financial Group by 4.4% during the first quarter. Fifth Third Wealth Advisors LLC now owns 1,975 shares of the insurance provider’s stock valued at $252,000 after buying an additional 83 shares during the last quarter. Valmark Advisers Inc. raised its position in American Financial Group by 1.0% in the first quarter. Valmark Advisers Inc. now owns 8,307 shares of the insurance provider’s stock worth $1,061,000 after acquiring an additional 85 shares during the period. Finally, OMERS ADMINISTRATION Corp raised its position in American Financial Group by 3.0% in the first quarter. OMERS ADMINISTRATION Corp now owns 3,061 shares of the insurance provider’s stock worth $391,000 after acquiring an additional 88 shares during the period. 64.37% of the stock is currently owned by hedge funds and other institutional investors.

About American Financial Group

American Financial Group, Inc is an insurance holding company headquartered in Cincinnati, Ohio. Through its Great American Insurance Group businesses, the company primarily provides property and casualty insurance products, with an emphasis on specialty commercial markets that require specialized underwriting expertise.

Its insurance offerings include coverage for commercial transportation, agriculture, workers’ compensation, excess and surplus risks, environmental exposures, inland marine, and other niche industries.