American Financial Group (AFG) Given Buy Rating at Sandler O’Neill

Sandler O’Neill reissued their buy rating on shares of American Financial Group (NYSE:AFG) in a report published on Wednesday. They currently have a $119.00 price objective on the insurance provider’s stock.

Separately, Zacks Investment Research downgraded American Financial Group from a buy rating to a hold rating in a research report on Tuesday, September 26th.

Shares of American Financial Group (NYSE AFG) opened at $109.16 on Wednesday. The stock has a market capitalization of $9,618.42, a price-to-earnings ratio of 14.01, a P/E/G ratio of 1.33 and a beta of 0.85. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.24. American Financial Group has a one year low of $85.57 and a one year high of $109.43.

American Financial Group (NYSE:AFG) last released its earnings results on Tuesday, October 31st. The insurance provider reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.21. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $979.50 million. American Financial Group had a return on equity of 10.90% and a net margin of 10.22%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.51 EPS. equities analysts predict that American Financial Group will post 6.05 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Monday, January 15th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.28%. American Financial Group’s payout ratio is 17.97%.

In other news, CEO Carl H. Lindner III sold 150,000 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $104.71, for a total transaction of $15,706,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Virginia Drosos sold 1,438 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $104.21, for a total value of $149,853.98. Following the sale, the director now owns 8,034 shares of the company’s stock, valued at $837,223.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 201,438 shares of company stock valued at $21,166,854. Corporate insiders own 14.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. lifted its position in shares of American Financial Group by 1.3% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 2,425 shares of the insurance provider’s stock valued at $241,000 after acquiring an additional 30 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in shares of American Financial Group by 3.4% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 5,979 shares of the insurance provider’s stock worth $594,000 after buying an additional 198 shares in the last quarter. USA Financial Portformulas Corp raised its holdings in shares of American Financial Group by 7.6% during the 2nd quarter. USA Financial Portformulas Corp now owns 5,780 shares of the insurance provider’s stock worth $574,000 after buying an additional 406 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of American Financial Group by 2.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 22,029 shares of the insurance provider’s stock worth $2,189,000 after buying an additional 483 shares in the last quarter. Finally, ETRADE Capital Management LLC raised its holdings in shares of American Financial Group by 22.4% during the 3rd quarter. ETRADE Capital Management LLC now owns 2,660 shares of the insurance provider’s stock worth $275,000 after buying an additional 486 shares in the last quarter. Hedge funds and other institutional investors own 61.40% of the company’s stock.

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About American Financial Group

American Financial Group, Inc (AFG) is a holding company engaged primarily in property and casualty insurance businesses. The Company, through Great American Insurance Group, focuses on commercial products for businesses, and is engaged in the sale of fixed and fixed-indexed annuities in the retail, financial institutions and education markets.

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