American Financial Group (NYSE:AFG) Announces Quarterly Earnings Results

American Financial Group (NYSE:AFG) released its quarterly earnings data on Tuesday. The insurance provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.50, Zacks reports. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.85 billion. American Financial Group had a return on equity of 20.43% and a net margin of 11.51%.The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.14 EPS.

American Financial Group Stock Performance

NYSE:AFG traded down $1.39 during trading hours on Thursday, hitting $145.34. 163,582 shares of the company were exchanged, compared to its average volume of 555,372. The company’s 50 day moving average price is $137.93 and its 200-day moving average price is $133.14. The stock has a market capitalization of $12.08 billion, a price-to-earnings ratio of 12.72 and a beta of 0.62. American Financial Group has a 52-week low of $123.09 and a 52-week high of $150.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.48 and a quick ratio of 0.48.

American Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Wednesday, July 15th were issued a dividend of $0.88 per share. The ex-dividend date was Wednesday, July 15th. This represents a $3.52 annualized dividend and a dividend yield of 2.4%. American Financial Group’s dividend payout ratio is 33.46%.

Insider Transactions at American Financial Group

In related news, SVP Michelle A. Gillis sold 2,247 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $139.00, for a total value of $312,333.00. Following the transaction, the senior vice president owned 13,135 shares in the company, valued at approximately $1,825,765. This represents a 14.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $135.05, for a total transaction of $1,535,518.50. Following the transaction, the insider directly owned 584,098 shares of the company’s stock, valued at approximately $78,882,434.90. This trade represents a 1.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 16.90% of the company’s stock.

Institutional Trading of American Financial Group

A number of institutional investors and hedge funds have recently modified their holdings of AFG. Cetera Investment Advisers grew its stake in shares of American Financial Group by 1.1% during the 4th quarter. Cetera Investment Advisers now owns 9,030 shares of the insurance provider’s stock worth $1,234,000 after acquiring an additional 100 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of American Financial Group by 0.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 17,641 shares of the insurance provider’s stock worth $2,411,000 after purchasing an additional 121 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in American Financial Group by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 22,202 shares of the insurance provider’s stock worth $3,235,000 after purchasing an additional 124 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in shares of American Financial Group by 2.1% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 6,150 shares of the insurance provider’s stock worth $896,000 after buying an additional 129 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of American Financial Group by 16.0% during the fourth quarter. UMB Bank n.a. now owns 943 shares of the insurance provider’s stock worth $129,000 after buying an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.

Wall Street Analysts Forecast Growth

AFG has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on American Financial Group from $158.00 to $173.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Keefe, Bruyette & Woods lifted their price target on American Financial Group from $140.00 to $148.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of American Financial Group in a research report on Thursday, June 11th. Finally, Piper Sandler upped their target price on American Financial Group from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, American Financial Group currently has an average rating of “Hold” and a consensus price target of $150.75.

American Financial Group Company Profile

American Financial Group, Inc (NYSE: AFG) is a diversified holding company primarily engaged in property and casualty insurance and reinsurance. Through its flagship subsidiary, Great American Insurance Company, the firm underwrites a broad range of specialty insurance products for commercial and industrial clients, including inland marine, excess and surplus lines, executive liability, and environmental liability coverage. In addition, American Financial Group offers supplemental accident and health insurance and assumes reinsurance risks from other insurers, helping to diversify its underwriting portfolio.

The company traces its roots to 1946, when it was founded by Carl Lindner, Sr.