American Financial Group (NYSE:AFG) Stock Gets Price Target Boost from Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised its price target for American Financial Group from $147 to $150, while maintaining a “market perform” rating; the new target implies about 3% downside from the prior close.
• Analyst views remain mixed: AFG has an average “Hold” rating and a consensus price target of $157, with two Buy ratings and three Hold ratings.
• AFG beat quarterly estimates, reporting earnings of $3.97 per share versus $3.80 expected, and revenue of $2.58 billion versus $2.40 billion expected.

American Financial Group (NYSE:AFG - Get Free Report) had its price objective hoisted by analysts at Keefe, Bruyette & Woods from $147.00 to $150.00 in a research report issued on Monday, Benzinga reports. The firm currently has a "market perform" rating on the insurance provider's stock. Keefe, Bruyette & Woods's price objective points to a potential downside of 2.96% from the stock's previous close.

AFG has been the topic of a number of other research reports. Piper Sandler raised their price objective on shares of American Financial Group from $140.00 to $156.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. Wall Street Zen lowered shares of American Financial Group from a "buy" rating to a "hold" rating in a report on Saturday. Weiss Ratings upgraded shares of American Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Finally, Wells Fargo & Company increased their price target on shares of American Financial Group from $166.00 to $180.00 and gave the stock an "overweight" rating in a report on Thursday. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, American Financial Group has an average rating of "Hold" and a consensus price target of $157.00.

American Financial Group Price Performance

AFG opened at $154.57 on Monday. The business has a fifty day moving average of $144.87 and a 200 day moving average of $137.00. American Financial Group has a 52-week low of $123.09 and a 52-week high of $159.61. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.39. The stock has a market cap of $12.82 billion, a P/E ratio of 12.61 and a beta of 0.55.

American Financial Group (NYSE:AFG - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The insurance provider reported $3.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.17. The company had revenue of $2.58 billion for the quarter, compared to analysts' expectations of $2.40 billion. American Financial Group had a return on equity of 22.56% and a net margin of 11.96%. During the same quarter in the prior year, the firm earned $2.69 earnings per share. As a group, sell-side analysts anticipate that American Financial Group will post 12.29 EPS for the current year.

Insider Transactions at American Financial Group

In related news, CFO Brian Hertzman sold 950 shares of the business's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $142.87, for a total value of $135,726.50. Following the sale, the chief financial officer owned 11,123 shares in the company, valued at approximately $1,589,143.01. The trade was a 7.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On American Financial Group

Several hedge funds and other institutional investors have recently made changes to their positions in AFG. Cassaday & Co Wealth Management LLC bought a new position in American Financial Group in the first quarter valued at about $26,000. Heritage Family Offices LLP bought a new position in shares of American Financial Group in the 3rd quarter worth about $29,000. Global Retirement Partners LLC acquired a new stake in shares of American Financial Group during the 2nd quarter worth approximately $32,000. Versant Capital Management Inc increased its stake in American Financial Group by 135.7% in the third quarter. Versant Capital Management Inc now owns 264 shares of the insurance provider's stock valued at $36,000 after purchasing an additional 152 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. bought a new stake in American Financial Group in the 2nd quarter valued at about $42,000. Hedge funds and other institutional investors own 64.37% of the company's stock.

American Financial Group Company Profile

American Financial Group, Inc is an insurance holding company headquartered in Cincinnati, Ohio. Through Great American Insurance Group, it provides property and casualty insurance, with a focus on specialty commercial markets and coverage tailored to specific industries and customer needs.

Its products include insurance for businesses, farms and agricultural operations, and individuals, offered through a network of independent agents and brokers. AFG's insurance operations serve customers primarily in the United States, with some products and services available internationally.

The company traces its roots to 1959, while its Great American Insurance Company subsidiary was founded in 1872.

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