American Financial Group Stock Rating Reaffirmed by Zacks (AFG)
American Financial Group (NYSE:AFG)‘s stock had its “neutral” rating restated by Zacks in a report issued on Tuesday. They currently have a $62.00 price target on the stock. Zacks‘s target price suggests a potential upside of 4.84% from the company’s current price.
Zacks’ analyst wrote, “American Financial Group reported second-quarter earnings per share of $1.07, beating the Zacks Consensus Estimate by 12.6%. On a year-over-year basis, earnings increased 11.5% buoyed by higher contribution from the specialty property and casualty group. The company is a niche player in the property and casualty as well as annuity markets and will benefit from the recent launch of Aviation Division and acquisition of Summit Holdings. Improving industry fundamentals such as price strengthening and an increase in renewal ratio will drive overall growth. A strong balance sheet, low leverage and disciplined capital management are the other positives. We, however, expect low interest rates, exposure to catastrophes and a heavy concentration of risky securities in the company’s investment portfolio will pose near-term headwinds. We thus retain our Neutral recommendation on the stock. “
In other American Financial Group news, CEO S Craig Lindner sold 40,000 shares of American Financial Group stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $57.93, for a total value of $2,317,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
American Financial Group (NYSE:AFG) traded up 0.42% on Tuesday, hitting $59.39. The stock had a trading volume of 66,348 shares. American Financial Group has a 52-week low of $51.22 and a 52-week high of $60.00. The stock has a 50-day moving average of $57.99 and a 200-day moving average of $57.80. The company has a market cap of $5.299 billion and a price-to-earnings ratio of 12.02.
American Financial Group (NYSE:AFG) last announced its earnings results on Monday, July 28th. The company reported $1.08 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.97 by $0.11. The company had revenue of $931.00 million for the quarter, compared to the consensus estimate of $845.50 million. During the same quarter in the prior year, the company posted $0.96 earnings per share. The company’s quarterly revenue was up 31.3% on a year-over-year basis. Analysts expect that American Financial Group will post $4.78 EPS for the current fiscal year.
Separately, analysts at Raymond James raised their price target on shares of American Financial Group from $60.00 to $62.00 in a research note on Thursday, July 17th. They now have an “outperform” rating on the stock.
American Financial Group, Inc (NYSE:AFG) is a holding company, which through subsidiaries, is engaged primarily in property and casualty insurance, focusing on specialized commercial products for businesses and in the sale of traditional fixed and fixed-indexed annuities in the individual, bank and education markets.
To view Zacks’ full report, visit Zacks’ official website.
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