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

Shares of American Financial Group, Inc. (NYSE:AFG - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $138.81 and last traded at $137.94, with a volume of 10225 shares changing hands. The stock had previously closed at $137.23.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AFG shares. BMO Capital Markets upped their price target on shares of American Financial Group from $132.00 to $135.00 and gave the stock a "market perform" rating in a report on Tuesday. Citigroup downgraded American Financial Group from a "buy" rating to a "neutral" rating and reduced their target price for the company from $144.00 to $137.00 in a report on Friday, June 28th.

American Financial Group Stock Performance

The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $11.39 billion, a price-to-earnings ratio of 13.00 and a beta of 0.78. The stock's 50-day moving average is $132.44 and its 200-day moving average is $129.69.

American Financial Group (NYSE:AFG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $2.56 EPS for the quarter, beating analysts' consensus estimates of $2.45 by $0.11. The company had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.72 billion. American Financial Group had a return on equity of 21.16% and a net margin of 11.06%. American Financial Group's revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.38 EPS. On average, analysts predict that American Financial Group, Inc. will post 10.96 EPS for the current fiscal year.

American Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Tuesday, October 15th will be given a $0.80 dividend. This is a boost from American Financial Group's previous quarterly dividend of $0.71. This represents a $3.20 annualized dividend and a yield of 2.36%. The ex-dividend date is Tuesday, October 15th. American Financial Group's dividend payout ratio is 30.62%.

Institutional Trading of American Financial Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can raised its holdings in American Financial Group by 251.1% during the 2nd quarter. Bank of Montreal Can now owns 147,892 shares of the insurance provider's stock worth $19,442,000 after purchasing an additional 105,764 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in American Financial Group in the fourth quarter valued at $7,133,000. Lord Abbett & CO. LLC boosted its position in American Financial Group by 13.4% during the first quarter. Lord Abbett & CO. LLC now owns 396,355 shares of the insurance provider's stock valued at $54,095,000 after acquiring an additional 46,702 shares during the last quarter. Bahl & Gaynor Inc. grew its holdings in American Financial Group by 8.6% during the 2nd quarter. Bahl & Gaynor Inc. now owns 492,021 shares of the insurance provider's stock worth $60,528,000 after acquiring an additional 38,937 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of American Financial Group by 302.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 51,509 shares of the insurance provider's stock worth $6,337,000 after acquiring an additional 38,718 shares in the last quarter. 64.37% of the stock is currently owned by institutional investors and hedge funds.

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.