Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for American Financial Group (NYSE:AFG) Stock

American Financial Group (NYSE:AFG) had its price objective hoisted by analysts at Keefe, Bruyette & Woods from $134.00 to $140.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 10.76% from the stock’s previous close.

Several other research firms have also recently commented on AFG. Weiss Ratings raised shares of American Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 16th. Wells Fargo & Company decreased their price objective on shares of American Financial Group from $165.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $145.25.

American Financial Group Stock Performance

American Financial Group stock traded down $1.34 during mid-day trading on Wednesday, hitting $126.40. 98,296 shares of the company’s stock traded hands, compared to its average volume of 677,811. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.38. American Financial Group has a one year low of $114.73 and a one year high of $150.02. The firm has a 50 day moving average price of $129.61 and a 200 day moving average price of $134.78. The company has a market cap of $10.53 billion, a PE ratio of 12.56 and a beta of 0.69.

American Financial Group (NYSE:AFG) last issued its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $3.65 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.47. American Financial Group had a return on equity of 18.64% and a net margin of 10.30%.The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period last year, the company earned $3.12 earnings per share. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, equities analysts forecast that American Financial Group will post 10.5 EPS for the current year.

Insider Activity

In other American Financial Group news, CFO Brian S. Hertzman sold 1,663 shares of the company’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $133.70, for a total value of $222,343.10. Following the transaction, the chief financial officer owned 12,073 shares of the company’s stock, valued at approximately $1,614,160.10. This represents a 12.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Financial Group

A number of hedge funds and other institutional investors have recently modified their holdings of AFG. Norges Bank purchased a new position in American Financial Group in the 2nd quarter worth about $106,707,000. M&T Bank Corp lifted its stake in American Financial Group by 20,131.5% during the fourth quarter. M&T Bank Corp now owns 637,090 shares of the insurance provider’s stock valued at $87,077,000 after buying an additional 633,941 shares in the last quarter. Vestor Capital LLC boosted its holdings in shares of American Financial Group by 100,006.8% in the fourth quarter. Vestor Capital LLC now owns 600,641 shares of the insurance provider’s stock worth $82,096,000 after buying an additional 600,041 shares during the period. Victory Capital Management Inc. increased its position in shares of American Financial Group by 12.9% in the third quarter. Victory Capital Management Inc. now owns 2,963,942 shares of the insurance provider’s stock worth $431,906,000 after acquiring an additional 337,573 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new position in shares of American Financial Group in the fourth quarter worth approximately $43,832,000. Institutional investors and hedge funds own 64.37% of the company’s stock.

About American Financial Group

American Financial Group, Inc (NYSE: AFG) is a diversified holding company primarily engaged in property and casualty insurance and reinsurance. Through its flagship subsidiary, Great American Insurance Company, the firm underwrites a broad range of specialty insurance products for commercial and industrial clients, including inland marine, excess and surplus lines, executive liability, and environmental liability coverage. In addition, American Financial Group offers supplemental accident and health insurance and assumes reinsurance risks from other insurers, helping to diversify its underwriting portfolio.

The company traces its roots to 1946, when it was founded by Carl Lindner, Sr.