American Financial Group, Inc. (NYSE:AFG) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Analyst consensus is “Hold” for American Financial Group, with three hold ratings and two buys. The average 12-month price target is $150.75, while recent targets range from $140 to $173.
• AFG shares opened at $141.72, near their 12-month high of $150.02, and trade at a P/E ratio of 13.47. The company pays a quarterly dividend of $0.88 per share, representing a 2.5% yield and a 33.46% payout ratio.
• Recent trading shows mixed insider and institutional activity: two insiders sold shares, while several hedge funds increased their positions. Institutional investors collectively own 64.37% of the company.

Shares of American Financial Group, Inc. (NYSE:AFG - Get Free Report) have received a consensus recommendation of "Hold" from the five research firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $150.75.

A number of analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of American Financial Group from $135.00 to $140.00 and gave the stock a "neutral" rating in a report on Tuesday, May 26th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of American Financial Group in a report on Thursday, June 11th. Keefe, Bruyette & Woods increased their price objective on American Financial Group from $140.00 to $148.00 and gave the company a "market perform" rating in a research report on Wednesday, July 8th. Finally, Wells Fargo & Company raised their price objective on American Financial Group from $158.00 to $173.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th.

American Financial Group Stock Performance

Shares of AFG opened at $141.72 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.48 and a quick ratio of 0.48. The firm's 50 day moving average is $137.47 and its 200-day moving average is $132.88. American Financial Group has a 12-month low of $122.11 and a 12-month high of $150.02. The stock has a market capitalization of $11.78 billion, a P/E ratio of 13.47 and a beta of 0.62.

American Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Wednesday, July 15th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Wednesday, July 15th. American Financial Group's dividend payout ratio is currently 33.46%.

Insiders Place Their Bets

In related news, 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 value of $1,535,518.50. Following the completion of the transaction, the insider owned 584,098 shares of the company's stock, valued at approximately $78,882,434.90. This trade represents a 1.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michelle A. Gillis sold 2,247 shares of the firm's stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $139.00, for a total transaction of $312,333.00. Following the completion of the transaction, the senior vice president directly owned 13,135 shares of the company's stock, valued at $1,825,765. This represents a 14.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 16.90% of the company's stock.

Institutional Trading of American Financial Group

Hedge funds have recently modified their holdings of the business. Louisiana State Employees Retirement System purchased a new stake in shares of American Financial Group during the 1st quarter worth about $2,567,000. UBS Group AG grew its stake in shares of American Financial Group by 10.1% in the 4th quarter. UBS Group AG now owns 581,805 shares of the insurance provider's stock valued at $79,521,000 after buying an additional 53,431 shares in the last quarter. Y Intercept Hong Kong Ltd grew its stake in shares of American Financial Group by 281.1% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 28,243 shares of the insurance provider's stock valued at $3,607,000 after buying an additional 20,832 shares in the last quarter. First Trust Advisors LP increased its holdings in American Financial Group by 433.2% in the first quarter. First Trust Advisors LP now owns 316,974 shares of the insurance provider's stock worth $40,481,000 after buying an additional 257,522 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in American Financial Group by 377.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 49,681 shares of the insurance provider's stock worth $6,790,000 after buying an additional 39,279 shares during the last quarter. Hedge funds and other institutional investors own 64.37% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source