American Financial Group (NYSE:AFG) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

American Financial Group (NYSE:AFG) had its target price lifted by BMO Capital Markets from $135.00 to $143.00 in a report issued on Friday morning,Benzinga reports. The firm currently has a market perform rating on the insurance provider’s stock.

Separately, Piper Sandler boosted their price target on shares of American Financial Group from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th.

American Financial Group Stock Performance

Shares of American Financial Group stock opened at $137.82 on Friday. The stock has a market cap of $11.57 billion, a price-to-earnings ratio of 12.92 and a beta of 0.79. American Financial Group has a twelve month low of $108.39 and a twelve month high of $144.81. The company’s fifty day moving average is $134.93 and its 200 day moving average is $130.36. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.31.

American Financial Group (NYSE:AFG) last issued its quarterly earnings results on Tuesday, November 5th. The insurance provider reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.20). The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.80 billion. American Financial Group had a net margin of 10.84% and a return on equity of 19.97%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.45 EPS. Sell-side analysts forecast that American Financial Group will post 10.88 EPS for the current year.

American Financial Group Increases Dividend

The firm also recently announced a None dividend, which will be paid on Tuesday, November 26th. Investors of record on Friday, November 15th will be paid a dividend of $4.00 per share. The ex-dividend date is Friday, November 15th. This is a boost from American Financial Group’s previous None dividend of $1.00. American Financial Group’s dividend payout ratio (DPR) is currently 29.99%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of American Financial Group by 10.2% during the third quarter. Geode Capital Management LLC now owns 1,553,207 shares of the insurance provider’s stock valued at $208,699,000 after acquiring an additional 143,820 shares in the last quarter. Barclays PLC grew its position in American Financial Group by 11.0% in the 3rd quarter. Barclays PLC now owns 63,333 shares of the insurance provider’s stock valued at $8,528,000 after purchasing an additional 6,272 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in American Financial Group by 7.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 35,248 shares of the insurance provider’s stock valued at $4,744,000 after purchasing an additional 2,500 shares in the last quarter. MML Investors Services LLC raised its holdings in American Financial Group by 3.5% during the third quarter. MML Investors Services LLC now owns 3,400 shares of the insurance provider’s stock worth $458,000 after buying an additional 116 shares during the last quarter. Finally, iA Global Asset Management Inc. acquired a new position in American Financial Group during the third quarter worth $125,000. Institutional investors and hedge funds 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.