American Financial Group (NYSE:AFG) Stock Price Target Lowered at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods lowered American Financial Group’s price target from $153 to $147 while maintaining a “market perform” rating, implying approximately 4.19% upside from the prior close.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $154.50 based on two Buy and three Hold recommendations.
• American Financial Group exceeded quarterly expectations, reporting $2.82 EPS versus the $2.32 consensus estimate and $2.03 billion in revenue, up 5.5% year over year.

American Financial Group (NYSE:AFG - Get Free Report) had its price objective dropped by research analysts at Keefe, Bruyette & Woods from $153.00 to $147.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a "market perform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' target price would indicate a potential upside of 4.19% from the company's previous close.

AFG has been the topic of a number of other reports. Wall Street Zen cut shares of American Financial Group from a "buy" rating to a "hold" rating in a research report on Saturday, September 12th. Wells Fargo & Company increased their price objective on shares of American Financial Group from $158.00 to $173.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Piper Sandler raised their target price on shares of American Financial Group from $140.00 to $156.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Finally, Weiss Ratings raised shares of American Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $154.50.

American Financial Group Stock Performance

NYSE AFG opened at $141.09 on Monday. The firm has a market capitalization of $11.70 billion, a P/E ratio of 12.33 and a beta of 0.59. American Financial Group has a 1-year low of $123.09 and a 1-year high of $148.71. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.49 and a quick ratio of 0.49. The business's 50-day simple moving average is $142.34 and its 200-day simple moving average is $137.36.

American Financial Group (NYSE:AFG - Get Free Report) last issued its earnings results on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.32 by $0.50. The business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $1.85 billion. American Financial Group had a return on equity of 20.35% and a net margin of 11.51%. The company's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.14 EPS. Equities analysts predict that American Financial Group will post 12.29 EPS for the current year.

Insider Buying and Selling at American Financial Group

In related news, VP Mark A. Weiss sold 2,813 shares of American Financial Group stock in a transaction 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 of the company's stock, valued at $962,364.48. The trade was a 29.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Brian S. Hertzman sold 950 shares of American Financial Group stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $142.87, for a total transaction of $135,726.50. Following the sale, the chief financial officer directly owned 11,123 shares in the company, valued at $1,589,143.01. This trade represents a 7.87% decrease in their position. The SEC filing for this sale provides additional information. 16.90% of the stock is currently owned by corporate insiders.

Hedge Funds 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. Louisiana State Employees Retirement System bought a new stake in shares of American Financial Group in the first quarter worth $2,567,000. First Trust Advisors LP raised 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 valued at $40,481,000 after acquiring an additional 257,522 shares in the last quarter. Bank of Nova Scotia bought a new position in American Financial Group during the 2nd quarter valued at $6,760,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in American Financial Group during the 2nd quarter valued at $1,121,000. Finally, Y Intercept Hong Kong Ltd boosted its stake in American Financial Group by 281.1% during 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 acquiring an additional 20,832 shares during the last quarter. 64.37% of the stock is owned by hedge funds and other institutional investors.

About American Financial Group

American Financial Group, Inc is an insurance holding company headquartered in Cincinnati, Ohio. Through its Great American Insurance Group businesses, the company primarily provides property and casualty insurance products, with an emphasis on specialty commercial markets that require specialized underwriting expertise.

Its insurance offerings include coverage for commercial transportation, agriculture, workers' compensation, excess and surplus risks, environmental exposures, inland marine, and other niche industries.

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.