American Financial Group Inc. (AFG) Declares Dividend Increase – $0.31 Per Share
American Financial Group Inc. (NYSE:AFG) announced a quarterly dividend on Monday, October 3rd. Stockholders of record on Friday, October 14th will be paid a dividend of 0.3125 per share on Tuesday, October 25th. This represents a $1.25 annualized dividend and a dividend yield of 1.67%. This is an increase from American Financial Group’s previous quarterly dividend of $0.28.
Shares of American Financial Group (NYSE:AFG) opened at 75.00 on Monday. American Financial Group has a one year low of $64.87 and a one year high of $76.03. The stock has a 50 day moving average price of $74.59 and a 200 day moving average price of $72.17. The company has a market capitalization of $6.52 billion, a PE ratio of 19.17 and a beta of 0.76.
American Financial Group (NYSE:AFG) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.01. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.06 billion. American Financial Group had a net margin of 5.46% and a return on equity of 9.74%. American Financial Group’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company posted $1.28 EPS. On average, equities research analysts predict that American Financial Group will post $5.70 earnings per share for the current year.
A number of research analysts recently weighed in on AFG shares. Sandler O’Neill raised shares of American Financial Group from a “hold” rating to a “buy” rating and raised their price target for the company from $74.00 to $81.00 in a research note on Friday, August 12th. Zacks Investment Research raised shares of American Financial Group from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Monday, August 8th. Finally, Janney Montgomery Scott reaffirmed a “buy” rating on shares of American Financial Group in a research note on Thursday, June 30th.
In other American Financial Group news, CEO Carl H. Lindner III sold 100,000 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $71.81, for a total value of $7,181,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Terry S. Jacobs sold 400 shares of the stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $75.57, for a total transaction of $30,228.00. Following the completion of the sale, the director now owns 2,000 shares of the company’s stock, valued at approximately $151,140. The disclosure for this sale can be found here. 14.90% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Inc. acquired a new stake in American Financial Group during the second quarter worth approximately $108,000. Advisor Partners LLC purchased a new stake in shares of American Financial Group during the second quarter worth about $212,000. Barclays PLC increased its stake in shares of American Financial Group by 180.2% in the second quarter. Barclays PLC now owns 5,287 shares of the company’s stock worth $391,000 after buying an additional 3,400 shares in the last quarter. Raymond James & Associates increased its stake in shares of American Financial Group by 21.4% in the second quarter. Raymond James & Associates now owns 5,720 shares of the company’s stock worth $423,000 after buying an additional 1,009 shares in the last quarter. Finally, Burney Co. increased its stake in shares of American Financial Group by 6.6% in the second quarter. Burney Co. now owns 6,304 shares of the company’s stock worth $466,000 after buying an additional 390 shares in the last quarter. Institutional investors own 59.89% of the company’s stock.
About American Financial Group
American Financial Group, Inc (AFG) is a holding company engaged primarily in property and casualty insurance businesses. The Company, through Great American Insurance Group, focuses on commercial products for businesses, and is engaged in the sale of fixed and fixed-indexed annuities in the retail, financial institutions and education markets.
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