American Financial Group (NYSE:AFG) Hits New 52-Week High – Time to Buy?

Shares of American Financial Group, Inc. (NYSE:AFG) hit a new 52-week high during trading on Friday . The company traded as high as $145.01 and last traded at $144.88, with a volume of 17235 shares trading hands. The stock had previously closed at $143.79.

Analyst Ratings Changes

AFG has been the topic of a number of analyst reports. Piper Sandler increased their price target on shares of American Financial Group from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. BMO Capital Markets increased their target price on shares of American Financial Group from $135.00 to $143.00 and gave the stock a “market perform” rating in a report on Friday, November 15th.

American Financial Group Stock Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 0.53 and a quick ratio of 0.53. The company has a market cap of $12.29 billion, a price-to-earnings ratio of 13.73 and a beta of 0.79. The stock has a 50-day moving average price of $135.68 and a 200 day moving average price of $130.81.

American Financial Group (NYSE:AFG) last announced its earnings results on Tuesday, November 5th. The insurance provider reported $2.31 EPS for the quarter, missing the consensus estimate 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 company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the business posted $2.45 earnings per share. The business’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, analysts anticipate that American Financial Group, Inc. will post 10.73 EPS for the current fiscal year.

American Financial Group Increases Dividend

The business also recently disclosed a None dividend, which will be paid on Tuesday, November 26th. Investors of record on Friday, November 15th will be given a $4.00 dividend. This is a boost from American Financial Group’s previous None dividend of $1.00. The ex-dividend date of this dividend is Friday, November 15th. American Financial Group’s payout ratio is currently 29.99%.

Hedge Funds Weigh In On American Financial Group

A number of large investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank lifted its holdings in shares of American Financial Group by 29.5% in the third quarter. Toronto Dominion Bank now owns 9,411 shares of the insurance provider’s stock valued at $1,267,000 after purchasing an additional 2,144 shares in the last quarter. Geode Capital Management LLC raised its position in American Financial Group by 10.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,553,207 shares of the insurance provider’s stock valued at $208,699,000 after buying an additional 143,820 shares during the last quarter. Barclays PLC lifted its stake 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 acquiring an additional 6,272 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position 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 worth $4,744,000 after acquiring an additional 2,500 shares during the last quarter. Finally, MML Investors Services LLC grew its stake in shares of American Financial Group by 3.5% during the 3rd quarter. MML Investors Services LLC now owns 3,400 shares of the insurance provider’s stock worth $458,000 after acquiring an additional 116 shares in the last quarter. Institutional investors 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.