Keefe, Bruyette & Woods Begins Coverage on American Financial Group (AFG)

Keefe, Bruyette & Woods started coverage on shares of American Financial Group (NYSE:AFG) in a research report report published on Thursday morning, MarketBeat Ratings reports. The firm issued a market perform rating and a $107.00 price objective on the insurance provider’s stock.

Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of American Financial Group from a hold rating to a sell rating in a research report on Monday, October 15th. ValuEngine lowered shares of American Financial Group from a hold rating to a sell rating in a research report on Tuesday, October 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. American Financial Group currently has an average rating of Hold and a consensus price target of $114.67.

Shares of AFG opened at $93.40 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.17 and a current ratio of 0.17. The company has a market cap of $8.22 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 0.85 and a beta of 0.92. American Financial Group has a 12-month low of $84.18 and a 12-month high of $121.69.

American Financial Group (NYSE:AFG) last announced its earnings results on Tuesday, October 30th. The insurance provider reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.31. American Financial Group had a net margin of 9.98% and a return on equity of 15.39%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the firm posted $1.06 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Analysts anticipate that American Financial Group will post 8.6 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 25th. Shareholders of record on Tuesday, January 15th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, January 14th. This represents a $1.60 annualized dividend and a dividend yield of 1.71%. American Financial Group’s payout ratio is currently 24.43%.

In other American Financial Group news, CEO Carl H. Lindner III sold 28,668 shares of the business’s stock in a transaction on Tuesday, December 18th. The shares were sold at an average price of $91.05, for a total transaction of $2,610,221.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregory G. Joseph bought 1,000 shares of the firm’s stock in a transaction on Wednesday, December 12th. The shares were bought at an average price of $92.91 per share, for a total transaction of $92,910.00. Following the completion of the transaction, the director now directly owns 35,594 shares in the company, valued at approximately $3,307,038.54. The disclosure for this purchase can be found here. 13.70% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of AFG. State of Alaska Department of Revenue raised its stake in shares of American Financial Group by 2.0% during the 4th quarter. State of Alaska Department of Revenue now owns 7,628 shares of the insurance provider’s stock worth $690,000 after buying an additional 147 shares during the last quarter. LifePlan Financial Group Inc raised its stake in shares of American Financial Group by 27.6% during the 4th quarter. LifePlan Financial Group Inc now owns 1,166 shares of the insurance provider’s stock worth $106,000 after buying an additional 252 shares during the last quarter. CX Institutional raised its stake in shares of American Financial Group by 2.0% during the 3rd quarter. CX Institutional now owns 22,864 shares of the insurance provider’s stock worth $2,537,000 after buying an additional 450 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of American Financial Group by 1.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 38,419 shares of the insurance provider’s stock worth $4,308,000 after buying an additional 544 shares during the last quarter. Finally, Baird Financial Group Inc. raised its stake in shares of American Financial Group by 1.6% during the 2nd quarter. Baird Financial Group Inc. now owns 34,693 shares of the insurance provider’s stock worth $3,724,000 after buying an additional 550 shares during the last quarter. Institutional investors own 62.67% of the company’s stock.

American Financial Group Company Profile

American Financial Group, Inc, through its subsidiaries, provides property and casualty insurance products in the United States. The company operates through Property and Casualty Insurance, Annuity, Run-Off Long-Term Care and Life, and Other segments. It offers property and transportation insurance products, such as physical damage and liability coverage for buses, trucks and recreational vehicles, inland and ocean marine, agricultural-related products, and other property coverages; specialty casualty insurance, including primarily excess and surplus, general liability, executive liability, professional liability, umbrella and excess liability, and specialty coverage in targeted markets and customized programs for small to mid-sized businesses; and specialty financial insurance products comprising risk management insurance programs for leasing and financing institutions, surety and fidelity products, and trade credit insurance.

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