American Financial Group Inc (NYSE:AFG) Short Interest Update

American Financial Group Inc (NYSE:AFG) saw a large drop in short interest in September. As of September 30th, there was short interest totalling 989,900 shares, a drop of 30.8% from the September 15th total of 1,430,000 shares. Based on an average trading volume of 485,500 shares, the days-to-cover ratio is currently 2.0 days. Approximately 1.3% of the company’s stock are short sold.

American Financial Group stock traded down $0.54 during mid-day trading on Friday, hitting $71.17. 304,360 shares of the company’s stock traded hands, compared to its average volume of 609,679. The firm has a 50 day simple moving average of $68.31 and a two-hundred day simple moving average of $65.08. American Financial Group has a fifty-two week low of $44.01 and a fifty-two week high of $115.03. The stock has a market cap of $6.30 billion, a price-to-earnings ratio of 27.80 and a beta of 0.88. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.15 and a quick ratio of 0.15.

American Financial Group (NYSE:AFG) last announced its quarterly earnings results on Tuesday, August 4th. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.60). American Financial Group had a net margin of 3.13% and a return on equity of 11.34%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the business earned $2.12 EPS. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, research analysts anticipate that American Financial Group will post 6.8 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Thursday, October 15th will be issued a dividend of $0.50 per share. This is an increase from American Financial Group’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $2.00 annualized dividend and a yield of 2.81%. American Financial Group’s dividend payout ratio (DPR) is currently 23.20%.

Several brokerages have recently weighed in on AFG. Credit Suisse Group began coverage on shares of American Financial Group in a research note on Wednesday, September 30th. They set an “outperform” rating and a $95.00 price target for the company. CSFB assumed coverage on shares of American Financial Group in a research note on Wednesday, September 30th. They issued an “outperform” rating and a $95.00 target price for the company. Piper Sandler raised their target price on shares of American Financial Group from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Zacks Investment Research raised shares of American Financial Group from a “hold” rating to a “strong-buy” rating and set a $76.00 target price for the company in a research note on Monday, August 10th. Finally, TheStreet raised shares of American Financial Group from a “c+” rating to a “b” rating in a research note on Friday, October 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $82.60.

A number of institutional investors have recently made changes to their positions in the business. State Street Corp increased its holdings in shares of American Financial Group by 5.3% during the first quarter. State Street Corp now owns 3,099,264 shares of the insurance provider’s stock worth $217,196,000 after purchasing an additional 154,734 shares during the period. Royal Bank of Canada raised its holdings in American Financial Group by 6.2% in the 1st quarter. Royal Bank of Canada now owns 69,314 shares of the insurance provider’s stock valued at $4,857,000 after acquiring an additional 4,037 shares in the last quarter. First Financial Bank Trust Division bought a new stake in shares of American Financial Group during the 2nd quarter valued at $333,000. Prudential Financial Inc. grew its holdings in shares of American Financial Group by 6.4% during the 2nd quarter. Prudential Financial Inc. now owns 355,124 shares of the insurance provider’s stock worth $22,536,000 after purchasing an additional 21,244 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of American Financial Group in the second quarter worth $4,248,000. 64.46% of the stock is owned by institutional investors and hedge funds.

American Financial Group Company Profile

American Financial Group, Inc, an insurance holding company, provides property and casualty insurance products in the United States. The company operates through three segments: Property and Casualty Insurance, Annuity, and Other. It offers property and transportation insurance products, such as physical damage and liability coverage for buses, trucks and recreational vehicles, inland and ocean marine, agricultural-related products, and other property; specialty casualty insurance, including primarily excess and surplus, general liability, executive liability, professional 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 leasing and financing institutions, surety and fidelity products, and trade credit insurance.

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