Wells Fargo Cuts American Financial (AFG) Price Target to $166

Wells Fargo keeps its Overweight rating on American Financial Group, setting a price target of $166 on October 12, 2026, a 11.53% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:30 PM EDT

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Wells Fargo cut its price target on American Financial Group, Inc. ($AFG) to $166 from $175 on October 12, 2026, and rates the stock "Overweight".

Since the rating, $AFG is up 4.4% to date (from the $142.82 close on Oct 12, 2026).

AFG American Financial Group, Inc.

$149.13 +14.94% year to date

Daily close · Oct 16, 2026

Key Points

Wells Fargo reiterated its Overweight rating on American Financial Group, Inc. with a price target of $166, down from $175.
Wells Fargo's $166 price target implies 11.53% upside from American Financial Group, Inc.'s ($AFG) current $148.84 share price.
As of October 16, 2026, shares of American Financial Group are trading around $148.84, which is 10.3% below the new target.
American Financial Group has a dividend rate of $3.52, and its next earnings report is scheduled for November 3, 2026.

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Wells Fargo reiterated its Overweight rating on American Financial Group, Inc. (AFG) on October 12, 2026, setting a new price target of $166. This target is a decrease from the previous target of $175.

Analyst rating track record

Wells Fargo vs. the S&P 500

YTD return -2.46% hypothetical

All-time return -2.46% S&P 500 +0.54%

vs. S&P 500 -3% behind the index

Hypothetical returns from Wells Fargo's disclosed trades, not real profit or advice. How we model this.

Other Institutional Activity in American Financial Group

Several other institutional investors have also adjusted their positions in American Financial Group. Blackrock Inc. grew its holdings by 877,635 shares, ending with 7,712,799 shares worth about $1.15 billion. State Street Corporation added 68,955 shares, bringing its total to 3,080,102 shares valued at approximately $459.7 million. Meanwhile, FMR, LLC reduced its stake by 906,259 shares, ending with 5,466,871 shares valued at around $815.9 million.

American Financial Group, Inc. Stock Up 4.6%

As of October 16, 2026, American Financial Group shares are priced at $148.84. This is about 10.3% below Wells Fargo's new price target of $166, indicating a potential upside if the stock moves toward that target in the future.

12-month forecast

$AFG price target

American Financial Group, Inc. daily closes and this analyst's $166 target. Not advice.

Recent Earnings

American Financial Group reported trailing twelve-month revenue of approximately $8.06 billion, with an EPS of $11.44. The company has a net margin of 11.8% and a return on equity of 20.4%. The next earnings report is scheduled for November 3, 2026.

Dividend

American Financial Group pays an annual dividend of $3.52 per share, resulting in a dividend payout ratio of 30.1%. This dividend provides a steady income stream for investors.

Insider Buying and Selling at American Financial Group, Inc.

Insider transactions show that several executives sold shares recently. On August 6, 2026, General Counsel Mark A. Weiss sold 2,813 shares at an average price of $144.76, totaling about $407,210. CEO Carl H. Lindner III sold 90,000 shares on August 26, 2026, valued at approximately $12.99 million. Additionally, CFO Brian S. Hertzman sold 950 shares at $142.87 on September 2, 2026, and Director Lehman John I. Von sold 1,279 shares at $143.84 on September 14, 2026.

Analysts Set New Price Targets

On October 12, 2026, Wells Fargo maintained its Overweight rating on American Financial Group with a revised price target of $166, down from $175. Earlier, on July 9, 2026, the firm had a target of $173. Other analysts, like Piper Sandler and Keefe, Bruyette & Woods, have also maintained their ratings with targets of $156 and $153, respectively.

About American Financial Group

American Financial Group, Inc. is an insurance holding company that offers property and casualty insurance products in the United States. The company operates through various segments focused on providing comprehensive insurance solutions.

Bottom Line

Investors should monitor American Financial Group's upcoming earnings report on November 3, 2026, for insights into its financial health. Additionally, keep an eye on any further analyst updates and insider trading activity, as these factors can influence the stock's performance.