American Financial Group (NYSE:AFG) Stock Rating Upgraded by Buckingham Research

Buckingham Research upgraded shares of American Financial Group (NYSE:AFG) from a neutral rating to a buy rating in a research report sent to investors on Thursday morning, Benzinga reports. Buckingham Research currently has $120.00 target price on the insurance provider’s stock.

Separately, ValuEngine upgraded shares of American Financial Group from a sell rating to a hold rating in a research report on Wednesday, May 29th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $111.33.

Shares of AFG opened at $104.43 on Thursday. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $9.37 billion, a P/E ratio of 12.43, a PEG ratio of 1.97 and a beta of 0.89. American Financial Group has a one year low of $84.18 and a one year high of $115.00.



American Financial Group (NYSE:AFG) last posted its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.03). The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.23 billion. American Financial Group had a return on equity of 13.90% and a net margin of 9.45%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.42 earnings per share. On average, research analysts expect that American Financial Group will post 8.67 EPS for the current fiscal year.

The business also recently declared a special dividend, which was paid on Tuesday, May 28th. Shareholders of record on Wednesday, May 15th were given a $1.50 dividend. The ex-dividend date was Tuesday, May 14th. This represents a yield of 1.56%. American Financial Group’s dividend payout ratio is 19.05%.

In other news, CEO Carl H. Lindner III sold 83,436 shares of American Financial Group stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $98.06, for a total transaction of $8,181,734.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Terry S. Jacobs sold 679 shares of American Financial Group stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $100.50, for a total transaction of $68,239.50. Following the sale, the director now owns 3,500 shares in the company, valued at $351,750. The disclosure for this sale can be found here. Insiders sold a total of 435,589 shares of company stock worth $43,746,328 over the last 90 days. Company insiders own 11.90% of the company’s stock.

Institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in American Financial Group by 11.4% during the fourth quarter. BlackRock Inc. now owns 8,677,040 shares of the insurance provider’s stock worth $785,533,000 after purchasing an additional 889,758 shares during the last quarter. Vanguard Group Inc lifted its stake in American Financial Group by 1.0% in the third quarter. Vanguard Group Inc now owns 7,116,486 shares of the insurance provider’s stock valued at $789,716,000 after acquiring an additional 73,729 shares during the last quarter. Victory Capital Management Inc. lifted its stake in American Financial Group by 11.6% in the first quarter. Victory Capital Management Inc. now owns 2,461,534 shares of the insurance provider’s stock valued at $236,823,000 after acquiring an additional 256,593 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in American Financial Group by 8,953.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,456,350 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 2,429,217 shares during the last quarter. Finally, LSV Asset Management lifted its stake in American Financial Group by 10.5% in the first quarter. LSV Asset Management now owns 1,401,863 shares of the insurance provider’s stock valued at $134,873,000 after acquiring an additional 133,000 shares during the last quarter. Institutional investors and hedge funds own 63.28% of the company’s stock.

American Financial Group Company Profile

American Financial Group, Inc, an insurance holding company, provides property and casualty insurance products in the United States. The company operates through three segments: Property and Casualty Insurance, Annuity, and Other. 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; specialty casualty insurance, including primarily excess and surplus, general liability, executive liability, professional 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 leasing and financing institutions, surety and fidelity products, and trade credit insurance.

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