American Financial Group (NYSE:AFG) Price Target Raised to $150.00

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

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 research note on Tuesday, October 8th.

American Financial Group Stock Down 1.2 %

Shares of NYSE AFG opened at $142.01 on Tuesday. American Financial Group has a 1 year low of $108.39 and a 1 year high of $144.81. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.53 and a quick ratio of 0.46. The company has a market capitalization of $11.92 billion, a P/E ratio of 13.31 and a beta of 0.79. The company has a 50 day simple moving average of $134.68 and a 200-day simple moving average of $130.19.

American Financial Group (NYSE:AFG) last posted its earnings results on Tuesday, November 5th. The insurance provider reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.20). The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.80 billion. American Financial Group had a return on equity of 19.97% and a net margin of 10.84%. American Financial Group’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.45 EPS. On average, equities research analysts predict that American Financial Group will post 10.88 earnings per share 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. Investors 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 29.99%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AFG. Erste Asset Management GmbH acquired a new position in American Financial Group in the 3rd quarter valued at $243,000. Edgestream Partners L.P. purchased a new position in American Financial Group during the third quarter worth about $874,000. Captrust Financial Advisors raised its stake in shares of American Financial Group by 9.5% during the 3rd quarter. Captrust Financial Advisors now owns 4,128 shares of the insurance provider’s stock worth $556,000 after buying an additional 357 shares in the last quarter. Martingale Asset Management L P lifted its holdings in shares of American Financial Group by 13.7% in the 3rd quarter. Martingale Asset Management L P now owns 2,155 shares of the insurance provider’s stock valued at $290,000 after buying an additional 259 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in American Financial Group by 5.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 442,533 shares of the insurance provider’s stock worth $59,565,000 after acquiring an additional 21,796 shares during the period. 64.37% of the stock is currently owned by hedge funds and other 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.