American Financial Group (NYSE:AFG) Price Target Raised to $173.00 at Wells Fargo & Company

American Financial Group (NYSE:AFG) had its price target lifted by Wells Fargo & Company from $158.00 to $173.00 in a research note published on Thursday,Benzinga reports. The firm currently has an overweight rating on the insurance provider’s stock.

Other equities analysts have also issued reports about the stock. Keefe, Bruyette & Woods upped their price objective on shares of American Financial Group from $140.00 to $148.00 and gave the stock a “market perform” rating in a report on Wednesday. Weiss Ratings reissued a “buy (b-)” rating on shares of American Financial Group in a research report on Thursday, June 11th. Finally, Piper Sandler upped their price target on American Financial Group from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Two 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 a consensus rating of “Hold” and a consensus price target of $150.75.

American Financial Group Stock Performance

Shares of American Financial Group stock opened at $142.40 on Thursday. American Financial Group has a 52 week low of $122.11 and a 52 week high of $150.02. The business’s fifty day simple moving average is $134.84 and its 200-day simple moving average is $132.21. The firm has a market cap of $11.83 billion, a PE ratio of 13.54 and a beta of 0.62. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.39.

American Financial Group (NYSE:AFG) last issued its quarterly earnings data on Thursday, April 30th. The insurance provider reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.07). The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.70 billion. American Financial Group had a return on equity of 19.50% and a net margin of 10.76%.The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.81 earnings per share. Equities analysts forecast that American Financial Group will post 11.37 earnings per share for the current year.

American Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Wednesday, July 15th will be issued a dividend of $0.88 per share. The ex-dividend date is Wednesday, July 15th. This represents a $3.52 annualized dividend and a yield of 2.5%. American Financial Group’s dividend payout ratio is 33.46%.

Insider Transactions at American Financial Group

In related news, SVP Michelle A. Gillis sold 2,247 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $139.00, for a total transaction of $312,333.00. Following the sale, the senior vice president directly owned 13,135 shares in the company, valued at approximately $1,825,765. This represents a 14.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $135.05, for a total transaction of $1,535,518.50. Following the completion of the sale, the insider directly owned 584,098 shares in the company, valued at approximately $78,882,434.90. This trade represents a 1.91% decrease in their position. The SEC filing for this sale provides additional information. 16.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On American Financial Group

A number of hedge funds and other institutional investors have recently modified their holdings of AFG. Cassaday & Co Wealth Management LLC purchased a new position in American Financial Group in the first quarter valued at $26,000. Global Retirement Partners LLC boosted its position in shares of American Financial Group by 904.8% during the 4th quarter. Global Retirement Partners LLC now owns 211 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 190 shares in the last quarter. Clearstead Advisors LLC increased its holdings in shares of American Financial Group by 87.7% in the 4th quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 121 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of American Financial Group in the 4th quarter valued at about $45,000. Finally, CIBC Private Wealth Group LLC raised its position in shares of American Financial Group by 86.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 376 shares of the insurance provider’s stock worth $51,000 after acquiring an additional 174 shares in the last quarter. 64.37% of the stock is currently owned by institutional investors and hedge funds.

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.