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

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

Separately, BMO Capital Markets boosted their price objective 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 Performance

Shares of AFG stock opened at $142.01 on Tuesday. 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 firm has a market capitalization of $11.92 billion, a price-to-earnings ratio of 13.31 and a beta of 0.79. American Financial Group has a one year low of $108.39 and a one year high of $144.81. The company has a 50 day moving average price of $134.68 and a 200 day moving average price of $130.19.

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 the consensus estimate of $2.51 by ($0.20). American Financial Group had a return on equity of 19.97% and a net margin of 10.84%. The firm had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the business posted $2.45 earnings per share. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. Sell-side analysts anticipate that American Financial Group will post 10.88 EPS for the current year.

American Financial Group Increases Dividend

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

Hedge Funds Weigh In On American Financial Group

A number of institutional investors and hedge funds have recently bought and sold shares of AFG. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of American Financial Group by 13.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 37,701 shares of the insurance provider’s stock worth $5,145,000 after purchasing an additional 4,420 shares in the last quarter. Vident Advisory LLC boosted its position in American Financial Group by 360.7% in the 1st quarter. Vident Advisory LLC now owns 27,155 shares of the insurance provider’s stock valued at $3,706,000 after buying an additional 21,261 shares during the last quarter. Edgestream Partners L.P. grew its stake in shares of American Financial Group by 308.5% during the first quarter. Edgestream Partners L.P. now owns 24,080 shares of the insurance provider’s stock valued at $3,286,000 after acquiring an additional 18,185 shares in the last quarter. Oak Thistle LLC purchased a new stake in shares of American Financial Group during the second quarter worth about $987,000. Finally, Assenagon Asset Management S.A. increased its position in shares of American Financial Group by 302.7% during the second quarter. Assenagon Asset Management S.A. now owns 51,509 shares of the insurance provider’s stock worth $6,337,000 after acquiring an additional 38,718 shares during the last quarter. Hedge funds and other institutional investors own 64.37% 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. 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.