Piper Sandler Forecasts Strong Price Appreciation for American Financial Group (NYSE:AFG) Stock

American Financial Group (NYSE:AFG) had its price objective boosted by investment analysts at Piper Sandler from $135.00 to $150.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the insurance provider’s stock. Piper Sandler’s price target points to a potential upside of 4.32% from the stock’s previous close.

Separately, BMO Capital Markets increased their price objective on American Financial Group from $132.00 to $135.00 and gave the company a “market perform” rating in a research report on Tuesday, October 8th.

American Financial Group Stock Performance

AFG opened at $143.79 on Tuesday. The company has a market capitalization of $12.07 billion, a price-to-earnings ratio of 13.48 and a beta of 0.79. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.53 and a quick ratio of 0.46. American Financial Group has a 1-year low of $108.20 and a 1-year high of $144.81. The business has a 50 day moving average price of $134.68 and a two-hundred day moving average price of $130.19.

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

Institutional Trading of American Financial Group

Several hedge funds and other institutional investors have recently modified their holdings of AFG. FMR LLC boosted its position in shares of American Financial Group by 3.8% in the third quarter. FMR LLC now owns 5,516,351 shares of the insurance provider’s stock worth $742,501,000 after buying an additional 202,522 shares during the period. Bank of Montreal Can boosted its position in shares of American Financial Group by 251.1% in the second quarter. Bank of Montreal Can now owns 147,892 shares of the insurance provider’s stock worth $19,442,000 after buying an additional 105,764 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of American Financial Group by 123.4% in the third quarter. Assenagon Asset Management S.A. now owns 115,050 shares of the insurance provider’s stock worth $15,486,000 after buying an additional 63,541 shares during the period. Lord Abbett & CO. LLC boosted its position in shares of American Financial Group by 13.4% in the first quarter. Lord Abbett & CO. LLC now owns 396,355 shares of the insurance provider’s stock worth $54,095,000 after buying an additional 46,702 shares during the period. Finally, EULAV Asset Management boosted its position in shares of American Financial Group by 9.4% in the third quarter. EULAV Asset Management now owns 498,721 shares of the insurance provider’s stock worth $67,128,000 after buying an additional 42,902 shares during the period. Institutional investors and hedge funds own 64.37% of the company’s stock.

American Financial Group Company Profile

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.