Piper Sandler Issues Positive Forecast for American Financial Group (NYSE:AFG) Stock Price

American Financial Group (NYSE:AFG) had its price objective upped by Piper Sandler from $135.00 to $150.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

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

American Financial Group Stock Up 0.9 %

NYSE AFG opened at $143.53 on Tuesday. The stock has a 50 day moving average price of $134.48 and a 200-day moving average price of $130.09. American Financial Group has a one year low of $107.73 and a one year high of $143.70. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.46 and a current ratio of 0.53. The company has a market capitalization of $12.05 billion, a P/E ratio of 13.45 and a beta of 0.79.

American Financial Group (NYSE:AFG) last issued its quarterly earnings data on Tuesday, November 5th. The insurance provider reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.20). The company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.80 billion. American Financial Group had a net margin of 10.84% and a return on equity of 19.97%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the company earned $2.45 earnings per share. As a group, equities analysts predict that American Financial Group will post 10.88 EPS for the current fiscal year.

American Financial Group Increases Dividend

The company also recently declared a None dividend, which will be paid on Tuesday, November 26th. Investors of record on Friday, November 15th will be issued a $4.00 dividend. This is a positive change from American Financial Group’s previous None dividend of $1.00. The ex-dividend date of this dividend is Friday, November 15th. American Financial Group’s payout ratio is presently 29.99%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Bank of Montreal Can grew its position in shares of American Financial Group by 251.1% during the 2nd quarter. Bank of Montreal Can now owns 147,892 shares of the insurance provider’s stock worth $19,442,000 after buying an additional 105,764 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in American Financial Group by 123.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 115,050 shares of the insurance provider’s stock worth $15,486,000 after acquiring an additional 63,541 shares in the last quarter. Lord Abbett & CO. LLC increased its position in American Financial Group by 13.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 396,355 shares of the insurance provider’s stock valued at $54,095,000 after purchasing an additional 46,702 shares during the period. EULAV Asset Management raised its holdings in shares of American Financial Group by 9.4% in the 3rd quarter. EULAV Asset Management now owns 498,721 shares of the insurance provider’s stock valued at $67,128,000 after purchasing an additional 42,902 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of American Financial Group by 8.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 503,115 shares of the insurance provider’s stock worth $67,719,000 after purchasing an additional 39,623 shares during the period. 64.37% of the stock is currently owned by hedge funds and other institutional investors.

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.