American Financial Group (NYSE:AFG) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Shares of American Financial Group, Inc. (NYSE:AFG) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $133.61 and traded as high as $138.66. American Financial Group shares last traded at $138.0750, with a volume of 108,641 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AFG. Piper Sandler upped their price target on American Financial Group from $130.00 to $139.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Wall Street Zen upgraded American Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Jefferies Financial Group reaffirmed a “hold” rating and set a $142.00 price target on shares of American Financial Group in a research note on Tuesday, November 11th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of American Financial Group in a research report on Monday. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $135.00.

American Financial Group Stock Down 0.1%

The company has a market cap of $11.52 billion, a PE ratio of 14.50 and a beta of 0.69. The firm has a 50-day simple moving average of $135.72 and a two-hundred day simple moving average of $133.61. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.55 and a quick ratio of 0.55.

American Financial Group (NYSE:AFG) last issued its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.34. The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.02 billion. American Financial Group had a return on equity of 18.05% and a net margin of 9.66%.The business’s revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.31 earnings per share. Research analysts anticipate that American Financial Group, Inc. will post 10.5 earnings per share for the current fiscal year.

American Financial Group Announces Dividend

The company also recently declared a special dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, November 17th. American Financial Group’s dividend payout ratio (DPR) is currently 36.97%.

Insider Activity at American Financial Group

In other news, CFO Brian S. Hertzman sold 1,777 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $142.51, for a total value of $253,240.27. Following the completion of the transaction, the chief financial officer owned 11,300 shares of the company’s stock, valued at $1,610,363. The trade was a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 17.40% of the stock is currently owned by company insiders.

Institutional Trading of American Financial Group

Several hedge funds and other institutional investors have recently bought and sold shares of AFG. Hantz Financial Services Inc. raised its holdings in American Financial Group by 421.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 198 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 160 shares during the last quarter. Alpine Bank Wealth Management purchased a new stake in shares of American Financial Group in the third quarter valued at $30,000. Atlantic Union Bankshares Corp acquired a new position in American Financial Group in the second quarter valued at $27,000. Root Financial Partners LLC purchased a new position in American Financial Group during the third quarter worth about $34,000. Finally, Smartleaf Asset Management LLC boosted its stake in American Financial Group by 165.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 273 shares of the insurance provider’s stock worth $39,000 after buying an additional 170 shares during the last quarter. 64.37% of the stock is owned by hedge funds and other institutional investors.

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.