Morgan Stanley Raises American Financial Group (NYSE:AFG) Price Target to $150.00

American Financial Group (NYSE:AFGGet Rating) had its target price lifted by Morgan Stanley from $146.00 to $150.00 in a report issued on Tuesday morning, MarketBeat Ratings reports. They currently have an equal weight rating on the insurance provider’s stock.

Separately, StockNews.com assumed coverage on shares of American Financial Group in a research note on Wednesday, October 12th. They set a hold rating on the stock.

American Financial Group Trading Down 0.2 %

Shares of NYSE:AFG opened at $142.46 on Tuesday. The company’s 50-day moving average price is $134.19 and its two-hundred day moving average price is $134.52. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.46 and a quick ratio of 0.46. American Financial Group has a one year low of $119.01 and a one year high of $152.29. The stock has a market capitalization of $12.13 billion, a PE ratio of 12.42 and a beta of 0.85.

American Financial Group (NYSE:AFGGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The insurance provider reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.04. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.51 billion. American Financial Group had a net margin of 14.22% and a return on equity of 24.41%. American Financial Group’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.71 EPS. On average, equities analysts forecast that American Financial Group will post 11.61 EPS for the current fiscal year.

American Financial Group Increases Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, November 22nd. Stockholders of record on Tuesday, November 15th were paid a dividend of $2.00 per share. The ex-dividend date was Monday, November 14th. This is a positive change from American Financial Group’s previous dividend of $1.00. American Financial Group’s payout ratio is currently 21.97%.

Insider Activity at American Financial Group

In related news, insider John B. Berding sold 12,745 shares of the company’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $146.24, for a total value of $1,863,828.80. Following the transaction, the insider now owns 36,083 shares in the company, valued at approximately $5,276,777.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider John B. Berding sold 12,745 shares of the company’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $146.24, for a total value of $1,863,828.80. Following the transaction, the insider now owns 36,083 shares in the company, valued at approximately $5,276,777.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John B. Berding sold 4,000 shares of the company’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $148.87, for a total transaction of $595,480.00. Following the completion of the transaction, the insider now owns 36,083 shares in the company, valued at approximately $5,371,676.21. The disclosure for this sale can be found here. 14.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AFG. First Horizon Advisors Inc. grew its position in shares of American Financial Group by 5,400.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 220 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 216 shares in the last quarter. McIlrath & Eck LLC acquired a new position in shares of American Financial Group during the 2nd quarter worth approximately $42,000. Alaska Permanent Fund Corp acquired a new position in shares of American Financial Group during the 3rd quarter worth approximately $45,000. Ronald Blue Trust Inc. grew its position in shares of American Financial Group by 166.9% during the 3rd quarter. Ronald Blue Trust Inc. now owns 331 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 207 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in shares of American Financial Group during the 3rd quarter worth approximately $49,000. Institutional investors and hedge funds own 69.11% of the company’s stock.

About American Financial Group

(Get Rating)

American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. It 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.

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