American Financial Group (AFG) Price Target Raised to $122.00 at Bank of America

American Financial Group (NYSE:AFG) had its price objective upped by Bank of America from $120.00 to $122.00 in a report published on Thursday. The brokerage currently has a buy rating on the insurance provider’s stock.

Other analysts also recently issued reports about the company. Zacks Investment Research raised American Financial Group from a hold rating to a buy rating and set a $118.00 price objective for the company in a research note on Wednesday, December 20th. Sandler O’Neill reissued a buy rating and issued a $119.00 price objective on shares of American Financial Group in a research note on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. American Financial Group currently has an average rating of Buy and a consensus price target of $116.75.

American Financial Group (AFG) opened at $116.09 on Thursday. American Financial Group has a 52 week low of $88.01 and a 52 week high of $121.69. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.19 and a current ratio of 0.19. The firm has a market capitalization of $10,229.04, a P/E ratio of 21.90, a P/E/G ratio of 1.18 and a beta of 0.82.

American Financial Group (NYSE:AFG) last posted its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.53. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.11 billion. American Financial Group had a return on equity of 11.10% and a net margin of 6.92%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.98 EPS. analysts anticipate that American Financial Group will post 8.13 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 25th. Stockholders of record on Monday, January 15th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Thursday, January 11th. American Financial Group’s dividend payout ratio (DPR) is presently 26.42%.

In other news, Director Virginia Drosos sold 1,438 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $104.21, for a total value of $149,853.98. Following the completion of the sale, the director now directly owns 8,034 shares of the company’s stock, valued at $837,223.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO S Craig Lindner sold 50,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $106.21, for a total value of $5,310,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 201,438 shares of company stock valued at $21,166,854. Company insiders own 14.90% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Cerebellum GP LLC bought a new position in shares of American Financial Group in the fourth quarter valued at approximately $111,000. Dai Ichi Life Insurance Company Ltd bought a new position in shares of American Financial Group in the third quarter valued at approximately $201,000. Strategic Global Advisors LLC bought a new position in shares of American Financial Group in the third quarter valued at approximately $207,000. Checchi Capital Advisers LLC bought a new position in shares of American Financial Group in the third quarter valued at approximately $211,000. Finally, GSA Capital Partners LLP bought a new position in shares of American Financial Group in the third quarter valued at approximately $211,000. 61.31% of the stock is owned by hedge funds and other institutional investors.

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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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