Keefe, Bruyette & Woods Cuts American Financial Group (NYSE:AFG) Price Target to $125.00

American Financial Group (NYSE:AFG) had its price target cut by Keefe, Bruyette & Woods from $126.00 to $125.00 in a report published on Friday,Benzinga reports. They currently have a market perform rating on the insurance provider’s stock.

American Financial Group Price Performance

American Financial Group stock opened at $122.15 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.31. The company has a fifty day simple moving average of $126.43 and a 200-day simple moving average of $131.79. The stock has a market cap of $10.22 billion, a P/E ratio of 11.56 and a beta of 0.72. American Financial Group has a 12-month low of $114.73 and a 12-month high of $150.19.

American Financial Group (NYSE:AFG) last announced its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.36). American Financial Group had a return on equity of 20.30% and a net margin of 10.66%. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the firm earned $2.76 earnings per share. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. Equities analysts expect that American Financial Group will post 10.5 EPS for the current fiscal year.

American Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Tuesday, April 15th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Tuesday, April 15th. American Financial Group’s payout ratio is 33.61%.

Insider Activity at American Financial Group

In other news, Director Gregory G. Joseph purchased 3,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average price of $121.00 per share, for a total transaction of $363,000.00. Following the purchase, the director now directly owns 57,477 shares of the company’s stock, valued at $6,954,717. This represents a 5.51% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On American Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Private Trust Co. NA raised its position in American Financial Group by 144.3% in the 1st quarter. Private Trust Co. NA now owns 215 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 127 shares during the last quarter. UMB Bank n.a. increased its stake in American Financial Group by 86.8% in the fourth quarter. UMB Bank n.a. now owns 340 shares of the insurance provider’s stock valued at $47,000 after purchasing an additional 158 shares during the period. Natixis purchased a new stake in shares of American Financial Group in the fourth quarter valued at about $47,000. Lazard Asset Management LLC purchased a new stake in shares of American Financial Group in the fourth quarter valued at about $53,000. Finally, Headlands Technologies LLC acquired a new stake in shares of American Financial Group during the first quarter worth about $55,000. Hedge funds and other institutional investors own 64.37% of the company’s stock.

American Financial Group Company Profile

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