American Financial Group (NYSE:AFG) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• American Financial Group shares moved above their 200-day moving average on Monday, trading as high as $142.99 and last changing hands at $142.2550.
• Analysts are mixed on the stock: recent target-price increases from firms like Wells Fargo and Piper Sandler left the company with a consensus rating of Hold and an average price target of $150.75.
• The company recently declared a quarterly dividend of $0.88 per share, payable July 24, which works out to an annualized yield of about 2.5%.

Shares of American Financial Group, Inc. (NYSE:AFG - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $132.36 and traded as high as $142.99. American Financial Group shares last traded at $142.2550, with a volume of 326,039 shares.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AFG. Piper Sandler boosted their target price on shares of American Financial Group from $135.00 to $140.00 and gave the company a "neutral" rating in a report on Tuesday, May 26th. Wells Fargo & Company lifted their price target on shares of American Financial Group from $158.00 to $173.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods boosted their price objective on shares of American Financial Group from $140.00 to $148.00 and gave the company a "market perform" rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of American Financial Group in a report on Thursday, June 11th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, American Financial Group presently has a consensus rating of "Hold" and a consensus price target of $150.75.

American Financial Group Trading Up 0.3%

The firm's 50 day simple moving average is $136.15 and its 200-day simple moving average is $132.36. The company has a market capitalization of $11.82 billion, a PE ratio of 13.52 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 - Get Free Report) last posted its earnings results on Thursday, April 30th. The insurance provider reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.54 by ($0.07). American Financial Group had a net margin of 10.76% and a return on equity of 19.50%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the previous year, the firm posted $1.81 EPS. The business's revenue was down .1% compared to the same quarter last year. As a group, equities research analysts anticipate that American Financial Group, Inc. will post 11.37 EPS for the current year.

American Financial Group Announces Dividend

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

Insider Activity

In other news, SVP Michelle A. Gillis sold 2,247 shares of the company's stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $139.00, for a total value of $312,333.00. Following the completion of the sale, the senior vice president owned 13,135 shares of the company's stock, valued at $1,825,765. This represents a 14.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of the firm's stock in a transaction dated 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 sale, the insider owned 584,098 shares in the company, valued at approximately $78,882,434.90. The trade was a 1.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 16.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of American Financial Group in the fourth quarter valued at $114,661,000. M&T Bank Corp lifted its holdings in American Financial Group by 20,131.5% in the 4th quarter. M&T Bank Corp now owns 637,090 shares of the insurance provider's stock worth $87,077,000 after buying an additional 633,941 shares in the last quarter. Vestor Capital LLC lifted its holdings in American Financial Group by 100,006.8% in the 4th quarter. Vestor Capital LLC now owns 600,641 shares of the insurance provider's stock worth $82,096,000 after buying an additional 600,041 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in American Financial Group by 337.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 431,144 shares of the insurance provider's stock valued at $55,061,000 after buying an additional 332,517 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new position in American Financial Group in the 4th quarter valued at about $43,832,000. 64.37% of the stock is 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.

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