American Financial Group (NYSE:AFG) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded American Financial Group from “Buy” to “Hold.” The broader analyst consensus is also “Hold,” with an average price target of $156 versus the reported share price of $141.88.
• American Financial Group reported stronger-than-expected quarterly results, earning $2.82 per share versus the $2.32 consensus estimate, while revenue rose 5.5% year over year to $2.03 billion.
• Insiders sold approximately $2.39 million of company stock over the past 90 days, while institutional investors own 64.37% of AFG’s shares.

American Financial Group (NYSE:AFG - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

AFG has been the subject of a number of other research reports. Weiss Ratings raised American Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. Keefe, Bruyette & Woods increased their target price on American Financial Group from $148.00 to $153.00 and gave the stock a "market perform" rating in a research note on Tuesday, August 11th. Piper Sandler increased their target price on American Financial Group from $140.00 to $156.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. Finally, Wells Fargo & Company raised their price target on American Financial Group from $158.00 to $173.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $156.00.

American Financial Group Trading Up 0.2%

Shares of AFG opened at $141.88 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.38. The firm has a fifty day simple moving average of $142.96 and a two-hundred day simple moving average of $135.80. The stock has a market capitalization of $11.77 billion, a P/E ratio of 12.40 and a beta of 0.60. American Financial Group has a twelve month low of $123.09 and a twelve month high of $150.02.

American Financial Group (NYSE:AFG - Get Free Report) last posted its earnings results on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.50. American Financial Group had a return on equity of 20.35% and a net margin of 11.51%.The firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $1.85 billion. During the same period in the previous year, the firm earned $2.14 earnings per share. The business's revenue was up 5.5% compared to the same quarter last year. On average, research analysts anticipate that American Financial Group will post 12.13 EPS for the current year.

Insider Buying and Selling

In other American Financial Group news, VP Mark A. Weiss sold 2,813 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $144.76, for a total transaction of $407,209.88. Following the sale, the vice president owned 6,648 shares in the company, valued at approximately $962,364.48. This trade represents a 29.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of American Financial Group 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 transaction, the insider directly owned 584,098 shares in the company, valued at $78,882,434.90. This represents a 1.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 17,380 shares of company stock valued at $2,390,788 in the last 90 days. Corporate insiders own 16.90% of the company's stock.

Hedge Funds Weigh In On American Financial Group

A number of hedge funds have recently modified their holdings of AFG. California State Teachers Retirement System lifted its position in shares of American Financial Group by 13,419.0% in the second quarter. California State Teachers Retirement System now owns 10,769,223 shares of the insurance provider's stock valued at $1,507,045,000 after acquiring an additional 10,689,563 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of American Financial Group during the second quarter worth about $1,079,329,000. Norges Bank bought a new stake in American Financial Group during the 4th quarter valued at approximately $114,661,000. Bank of New York Mellon Corp bought a new stake in American Financial Group during the 2nd quarter valued at approximately $102,590,000. Finally, 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 purchasing an additional 600,041 shares in the last quarter. 64.37% of the stock is currently owned by institutional investors.

About American Financial Group

American Financial Group, Inc NYSE: AFG is an insurance holding company headquartered in Cincinnati, Ohio. Through its Great American Insurance Group subsidiaries, the company primarily underwrites specialty property and casualty insurance and sells annuity products.

Its property and casualty operations serve businesses, organizations and individuals through specialized products that include commercial transportation, agricultural and crop insurance, workers' compensation, casualty coverage, financial institution insurance, surety and fidelity bonds, marine insurance, travel insurance and public-sector coverage.

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