American Financial Group (NYSE:AFG) Stock Price Expected to Rise, Piper Sandler Analyst Says

American Financial Group (NYSE:AFG) had its price target hoisted by Piper Sandler from $135.00 to $150.00 in a research note issued to investors on Tuesday,Benzinga reports. Piper Sandler currently has a neutral rating on the insurance provider’s stock.

Separately, BMO Capital Markets lifted their target price on American Financial Group from $132.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, October 8th.

American Financial Group Trading Down 0.1 %

Shares of NYSE AFG opened at $137.82 on Tuesday. The company has a market cap of $11.57 billion, a price-to-earnings ratio of 12.92 and a beta of 0.79. American Financial Group has a 12-month low of $108.39 and a 12-month high of $144.81. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.31. The stock’s 50 day simple moving average is $134.93 and its 200 day simple moving average is $130.34.

American Financial Group (NYSE:AFG) last announced its earnings results on Tuesday, November 5th. The insurance provider reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.20). The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $1.80 billion. American Financial Group had a net margin of 10.84% and a return on equity of 19.97%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.45 EPS. Equities research analysts expect that American Financial Group will post 10.88 EPS for the current year.

American Financial Group Increases Dividend

The business also recently declared a None dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Friday, November 15th will be given a $4.00 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from American Financial Group’s previous None dividend of $1.00. American Financial Group’s payout ratio is currently 29.99%.

Institutional Trading of American Financial Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of American Financial Group by 13.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 37,701 shares of the insurance provider’s stock worth $5,145,000 after purchasing an additional 4,420 shares during the period. Vident Advisory LLC increased its stake in American Financial Group by 360.7% during the first quarter. Vident Advisory LLC now owns 27,155 shares of the insurance provider’s stock valued at $3,706,000 after acquiring an additional 21,261 shares during the period. Edgestream Partners L.P. increased its stake in American Financial Group by 308.5% during the first quarter. Edgestream Partners L.P. now owns 24,080 shares of the insurance provider’s stock valued at $3,286,000 after acquiring an additional 18,185 shares during the period. Oak Thistle LLC bought a new position in American Financial Group during the second quarter valued at about $987,000. Finally, Assenagon Asset Management S.A. increased its stake in American Financial Group by 302.7% during the second quarter. Assenagon Asset Management S.A. now owns 51,509 shares of the insurance provider’s stock valued at $6,337,000 after acquiring an additional 38,718 shares during the period. Institutional investors and hedge funds own 64.37% of the company’s stock.

American Financial Group Company Profile

American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. The company offers property and transportation insurance products, such as physical damage and liability coverage for buses and trucks, inland and ocean marine, agricultural-related products, and other commercial property and specialty transportation coverages; specialty casualty insurance, including primarily excess and surplus, executive and professional liability, general liability, umbrella and excess liability, and specialty coverage in targeted markets, as well as customized programs for small to mid-sized businesses and workers’ compensation insurance; and specialty financial insurance products comprising risk management insurance programs for lending and leasing institutions, fidelity and surety products, and trade credit insurance.