American Financial Group (NYSE:AFG) Price Target Raised to $135.00

American Financial Group (NYSE:AFG) had its price objective hoisted by BMO Capital Markets from $132.00 to $135.00 in a report published on Tuesday, Benzinga reports. They currently have a market perform rating on the insurance provider’s stock.

Separately, Citigroup downgraded American Financial Group from a buy rating to a neutral rating and lowered their price target for the company from $144.00 to $137.00 in a report on Friday, June 28th.

American Financial Group Trading Down 1.0 %

American Financial Group stock opened at $135.85 on Tuesday. American Financial Group has a 52 week low of $105.22 and a 52 week high of $138.81. 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 $11.39 billion, a price-to-earnings ratio of 13.00 and a beta of 0.78. The company has a 50 day moving average price of $132.44 and a 200 day moving average price of $129.69.

American Financial Group (NYSE:AFG) last posted its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.45 by $0.11. American Financial Group had a net margin of 11.06% and a return on equity of 21.16%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the company posted $2.38 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. Research analysts forecast that American Financial Group will post 10.96 EPS for the current year.

American Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.80 per share. This is a boost from American Financial Group’s previous quarterly dividend of $0.71. The ex-dividend date is Tuesday, October 15th. This represents a $3.20 dividend on an annualized basis and a yield of 2.36%. American Financial Group’s dividend payout ratio (DPR) is currently 30.62%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sei Investments Co. increased its holdings in shares of American Financial Group by 0.3% in the second quarter. Sei Investments Co. now owns 26,059 shares of the insurance provider’s stock valued at $3,206,000 after purchasing an additional 86 shares in the last quarter. Daiwa Securities Group Inc. increased its position in American Financial Group by 2.2% during the first quarter. Daiwa Securities Group Inc. now owns 4,674 shares of the insurance provider’s stock worth $638,000 after buying an additional 100 shares during the last quarter. Diversified Trust Co lifted its holdings in American Financial Group by 5.0% during the 2nd quarter. Diversified Trust Co now owns 2,105 shares of the insurance provider’s stock valued at $259,000 after purchasing an additional 100 shares during the last quarter. Blue Trust Inc. raised its holdings in American Financial Group by 44.3% in the 2nd quarter. Blue Trust Inc. now owns 433 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 133 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in American Financial Group by 2.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 6,882 shares of the insurance provider’s stock worth $937,000 after buying an additional 136 shares during the period. 64.37% of the stock is owned by institutional investors.

About American Financial Group

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.