American Financial Group (NYSE:AFG – Get Free Report) was downgraded by Piper Sandler from an “overweight” rating to a “neutral” rating in a report released on Thursday, MarketBeat Ratings reports. They presently have a $129.00 target price on the insurance provider’s stock. Piper Sandler’s target price would indicate a potential upside of 5.49% from the company’s current price.
AFG has been the topic of several other reports. Janney Montgomery Scott started coverage on shares of American Financial Group in a research report on Thursday, December 14th. They issued a “buy” rating and a $135.00 price objective on the stock. Citigroup boosted their price objective on shares of American Financial Group from $125.00 to $131.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $128.75.
American Financial Group Price Performance
American Financial Group (NYSE:AFG – Get Free Report) last issued its earnings results on Wednesday, February 7th. The insurance provider reported $2.84 EPS for the quarter, topping the consensus estimate of $2.81 by $0.03. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.67 billion. American Financial Group had a net margin of 10.89% and a return on equity of 22.53%. The business’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.99 EPS. Analysts forecast that American Financial Group will post 11.48 EPS for the current fiscal year.
In other news, Director William W. Verity sold 2,274 shares of the company’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $120.26, for a total transaction of $273,471.24. Following the completion of the transaction, the director now owns 10,457 shares of the company’s stock, valued at approximately $1,257,558.82. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director William W. Verity sold 2,274 shares of the company’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $120.26, for a total transaction of $273,471.24. Following the completion of the transaction, the director now owns 10,457 shares of the company’s stock, valued at approximately $1,257,558.82. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Amy Y. Murray sold 850 shares of the stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $118.15, for a total transaction of $100,427.50. Following the sale, the director now directly owns 909 shares of the company’s stock, valued at approximately $107,398.35. The disclosure for this sale can be found here. Insiders sold a total of 3,539 shares of company stock valued at $423,267 in the last 90 days. 14.60% of the stock is currently owned by insiders.
Institutional Trading of American Financial Group
Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of Montreal Can acquired a new stake in American Financial Group during the 2nd quarter worth approximately $3,962,000. Raymond James Financial Services Advisors Inc. boosted its holdings in American Financial Group by 30.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 5,591 shares of the insurance provider’s stock worth $664,000 after acquiring an additional 1,315 shares during the period. Janney Montgomery Scott LLC purchased a new position in American Financial Group in the 2nd quarter worth approximately $3,712,000. Qsemble Capital Management LP purchased a new position in American Financial Group in the 3rd quarter worth approximately $692,000. Finally, Meitav Investment House Ltd. purchased a new position in American Financial Group in the 2nd quarter worth approximately $2,049,000. Institutional investors and hedge funds own 63.50% of the company’s stock.
About American Financial Group
American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. It 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.
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