Citigroup Downgrades American Financial Group (NYSE:AFG) to Neutral

Citigroup lowered shares of American Financial Group (NYSE:AFG) from a buy rating to a neutral rating in a research note published on Friday morning, MarketBeat reports. The firm currently has $137.00 price objective on the insurance provider’s stock, down from their prior price objective of $144.00.

Separately, Piper Sandler increased their price objective on shares of American Financial Group from $129.00 to $135.00 and gave the company a neutral rating in a research report on Monday, May 6th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $131.75.

American Financial Group Stock Down 0.1 %

Shares of American Financial Group stock opened at $122.91 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.46 and a quick ratio of 0.46. The company has a 50-day moving average of $128.13 and a 200 day moving average of $125.96. The firm has a market cap of $10.31 billion, a price-to-earnings ratio of 11.76 and a beta of 0.79. American Financial Group has a 1 year low of $105.22 and a 1 year high of $137.71.

American Financial Group (NYSE:AFG) last issued its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.06. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. American Financial Group had a net margin of 11.03% and a return on equity of 21.34%. During the same period last year, the business earned $2.89 EPS. As a group, sell-side analysts anticipate that American Financial Group will post 10.94 earnings per share for the current fiscal year.

American Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Monday, July 15th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.31%. The ex-dividend date is Monday, July 15th. American Financial Group’s dividend payout ratio (DPR) is 27.18%.

Insider Activity at American Financial Group

In related news, Director Amy Y. Murray purchased 1,200 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average price of $125.17 per share, with a total value of $150,204.00. Following the acquisition, the director now directly owns 1,200 shares in the company, valued at approximately $150,204. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 14.50% of the stock is currently owned by insiders.

Institutional Trading of American Financial Group

A number of institutional investors have recently made changes to their positions in AFG. VisionPoint Advisory Group LLC boosted its holdings in shares of American Financial Group by 132.5% in the third quarter. VisionPoint Advisory Group LLC now owns 272 shares of the insurance provider’s stock worth $30,000 after buying an additional 155 shares during the last quarter. Arlington Trust Co LLC purchased a new position in shares of American Financial Group in the fourth quarter worth approximately $42,000. Covestor Ltd boosted its holdings in shares of American Financial Group by 402.3% in the first quarter. Covestor Ltd now owns 432 shares of the insurance provider’s stock worth $59,000 after buying an additional 346 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of American Financial Group in the fourth quarter worth approximately $53,000. Finally, Abich Financial Wealth Management LLC boosted its holdings in shares of American Financial Group by 10,460.0% in the first quarter. Abich Financial Wealth Management LLC now owns 528 shares of the insurance provider’s stock worth $72,000 after buying an additional 523 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.