American Financial Group (NYSE:AFG) Reaches New 52-Week High on Analyst Upgrade

Shares of American Financial Group, Inc. (NYSE:AFG) hit a new 52-week high on Tuesday after Piper Sandler raised their price target on the stock from $135.00 to $150.00. Piper Sandler currently has a neutral rating on the stock. American Financial Group traded as high as $142.85 and last traded at $142.46, with a volume of 12407 shares trading hands. The stock had previously closed at $142.21.

Separately, BMO Capital Markets boosted 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.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in American Financial Group by 13.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 37,701 shares of the insurance provider’s stock worth $5,145,000 after acquiring an additional 4,420 shares during the period. Vident Advisory LLC grew 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 worth $3,706,000 after buying an additional 21,261 shares during the last quarter. Edgestream Partners L.P. increased its holdings in shares of American Financial Group by 308.5% in the first quarter. Edgestream Partners L.P. now owns 24,080 shares of the insurance provider’s stock valued at $3,286,000 after purchasing an additional 18,185 shares in the last quarter. Oak Thistle LLC bought a new position in American Financial Group in the second quarter valued at approximately $987,000. Finally, Assenagon Asset Management S.A. raised its stake in American Financial Group by 302.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 51,509 shares of the insurance provider’s stock worth $6,337,000 after buying an additional 38,718 shares during the period. Institutional investors and hedge funds own 64.37% of the company’s stock.

American Financial Group Stock Up 0.9 %

The firm’s 50-day moving average is $134.09 and its 200 day moving average is $129.88. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.46 and a current ratio of 0.46. The firm has a market capitalization of $12.04 billion, a P/E ratio of 13.33 and a beta of 0.79.

American Financial Group (NYSE:AFG) last issued its earnings results on Tuesday, November 5th. The insurance provider reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.80 billion. American Financial Group had a net margin of 10.84% and a return on equity of 20.45%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.45 EPS. As a group, equities research analysts predict that American Financial Group, Inc. will post 10.93 EPS for the current fiscal year.

American Financial Group Increases Dividend

The firm also recently announced a None dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Friday, November 15th will be given a dividend of $4.00 per share. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from American Financial Group’s previous None dividend of $1.00. American Financial Group’s payout ratio is presently 29.99%.

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.