Keefe, Bruyette & Woods Issues Positive Forecast for American Financial Group (NYSE:AFG) Stock Price

Key Points

• Keefe, Bruyette & Woods raised American Financial Group’s price target from $148 to $153 while maintaining a “market perform” rating, implying 6.61% potential upside. The analyst consensus remains “Hold,” with an average price target of $156.
• American Financial Group’s latest quarterly results exceeded expectations, with earnings per share of $2.82 versus the $2.32 consensus and revenue of $2.03 billion versus $1.85 billion expected. Revenue increased 5.5% year over year.
• The stock opened at $143.52 and was down 1.4%, while insiders have sold 16,430 shares worth approximately $2.26 million over the past 90 days. Institutional investors own 64.37% of the company.

American Financial Group (NYSE:AFG - Get Free Report) had its price target raised by stock analysts at Keefe, Bruyette & Woods from $148.00 to $153.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "market perform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 6.61% from the company's current price.

AFG has been the subject of several other research reports. Wells Fargo & Company raised their price target on 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 lifted their price objective on American Financial Group from $140.00 to $156.00 and gave the stock a "neutral" rating in a research report on Monday. 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's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $156.00.

American Financial Group Trading Down 1.4%

NYSE:AFG opened at $143.52 on Tuesday. American Financial Group has a 52-week low of $123.09 and a 52-week high of $150.02. 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 stock has a fifty day simple moving average of $138.83 and a 200-day simple moving average of $133.44. The company has a market capitalization of $11.93 billion, a PE ratio of 12.55 and a beta of 0.62.

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 for the quarter, beating the consensus estimate of $2.32 by $0.50. American Financial Group had a net margin of 11.51% and a return on equity of 20.35%. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the firm posted $2.14 EPS. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities research analysts expect that American Financial Group will post 11.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Mark A. Weiss sold 2,813 shares of the business's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $144.76, for a total transaction of $407,209.88. Following the completion of the sale, the vice president owned 6,648 shares in the company, valued at approximately $962,364.48. The trade was a 29.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michelle A. Gillis sold 2,247 shares of the stock in a transaction on Wednesday, June 24th. The shares were 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 approximately $1,825,765. This represents a 14.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 16,430 shares of company stock valued at $2,255,061. 16.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On American Financial Group

A number of hedge funds have recently bought and sold shares of the business. Cassaday & Co Wealth Management LLC purchased a new position in shares of American Financial Group during the 1st quarter valued at approximately $26,000. Global Retirement Partners LLC raised its stake in American Financial Group by 904.8% during the fourth quarter. Global Retirement Partners LLC now owns 211 shares of the insurance provider's stock valued at $29,000 after buying an additional 190 shares in the last quarter. Clearstead Advisors LLC lifted its position in shares of American Financial Group by 87.7% in the 4th quarter. Clearstead Advisors LLC now owns 259 shares of the insurance provider's stock worth $35,000 after buying an additional 121 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in American Financial Group during the 2nd quarter worth $46,000. Finally, Los Angeles Capital Management LLC acquired a new stake in American Financial Group in the 4th quarter valued at approximately $45,000. Institutional investors and hedge funds 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.

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