American Financial Group (NYSE:AFG) Upgraded 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 note released on Saturday,Wall Street Zen reports.

A number of other research firms also recently weighed in on AFG. Weiss Ratings upgraded American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Keefe, Bruyette & Woods cut their price objective on American Financial Group from $153.00 to $147.00 and set a “market perform” rating for the company in a research report on Monday, October 12th. Piper Sandler increased their price objective on American Financial Group from $140.00 to $156.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Finally, Wells Fargo & Company reduced their target price on American Financial Group from $175.00 to $166.00 and set an “overweight” rating for the company in a report on Monday, October 12th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $152.75.

American Financial Group Price Performance

Shares of NYSE:AFG opened at $148.05 on Friday. American Financial Group has a 52 week low of $123.09 and a 52 week high of $149.31. The company has a 50-day moving average price of $142.59 and a 200 day moving average price of $138.16. The company has a market cap of $12.28 billion, a P/E ratio of 12.82 and a beta of 0.59. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.38.

American Financial Group (NYSE:AFG) last announced its quarterly earnings data on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.50. American Financial Group had a return on equity of 20.35% and a net margin of 11.51%. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the company earned $2.14 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. Research analysts predict that American Financial Group will post 12.29 earnings per share for the current year.

American Financial Group Increases Dividend

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

Insider Activity at American Financial Group

In other news, VP Mark Weiss sold 2,813 shares of the business’s stock in a transaction that occurred 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 sale, the vice president owned 6,648 shares of the company’s stock, valued at $962,364.48. The trade was a 29.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian Hertzman sold 950 shares of the company’s 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 sale, the chief financial officer owned 11,123 shares in the company, valued at approximately $1,589,143.01. This represents a 7.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 16.90% of the stock is owned by insiders.

Hedge Funds Weigh In On American Financial Group

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

About American Financial Group

American Financial Group, Inc (NYSE:AFG) is an insurance holding company headquartered in Cincinnati, Ohio. Through its Great American Insurance Group operations, the company primarily provides property and casualty insurance, with an emphasis on specialty commercial products and markets.

Its insurance offerings serve businesses, organizations and individuals across a range of industries. Product lines have included commercial property and liability coverage, workers’ compensation, transportation, agriculture and crop insurance, marine and other specialty risks.