American Financial Group, Inc. (NYSE:AFG) Expected to Post Earnings of $1.30 Per Share
Analysts expect that American Financial Group, Inc. (NYSE:AFG) will announce $1.30 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for American Financial Group’s earnings, with the highest EPS estimate coming in at $1.37 and the lowest estimate coming in at $1.20. American Financial Group reported earnings of $1.28 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.6%. The firm is expected to announce its next earnings report after the market closes on Tuesday, August 1st.
According to Zacks, analysts expect that American Financial Group will report full-year earnings of $6.49 per share for the current year, with EPS estimates ranging from $6.43 to $6.55. For the next financial year, analysts anticipate that the business will report earnings of $6.63 per share, with EPS estimates ranging from $6.60 to $6.65. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for American Financial Group.
American Financial Group (NYSE:AFG) last issued its earnings results on Wednesday, May 3rd. The insurance provider reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.32. American Financial Group had a return on equity of 11.11% and a net margin of 10.62%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. American Financial Group’s revenue for the quarter was up 6.8% on a year-over-year basis.
Several equities research analysts recently weighed in on AFG shares. Zacks Investment Research upgraded American Financial Group from a “hold” rating to a “buy” rating and set a $112.00 price target on the stock in a research report on Monday, May 8th. BidaskClub lowered American Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. American Financial Group presently has an average rating of “Hold” and a consensus price target of $92.00.
Shares of American Financial Group (NYSE AFG) traded up 1.02% during trading on Wednesday, hitting $100.58. The stock had a trading volume of 291,826 shares. The stock has a market capitalization of $8.81 billion, a price-to-earnings ratio of 12.72 and a beta of 0.83. American Financial Group has a 52 week low of $71.30 and a 52 week high of $103.19. The firm has a 50 day moving average price of $99.98 and a 200-day moving average price of $95.27.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 25th. Investors of record on Friday, July 14th will be given a dividend of $0.3125 per share. The ex-dividend date is Wednesday, July 12th. This represents a $1.25 annualized dividend and a dividend yield of 1.24%. American Financial Group’s dividend payout ratio is presently 15.82%.
In other American Financial Group news, CEO S Craig Lindner sold 26,475 shares of American Financial Group stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $99.46, for a total transaction of $2,633,203.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Carl H. Lindner III sold 56,353 shares of American Financial Group stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $102.17, for a total value of $5,757,586.01. The disclosure for this sale can be found here. Insiders have sold 375,215 shares of company stock valued at $37,465,772 in the last quarter. 13.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of American Financial Group by 7.1% in the first quarter. Vanguard Group Inc. now owns 6,517,519 shares of the insurance provider’s stock worth $621,902,000 after buying an additional 431,262 shares during the last quarter. BlackRock Inc. boosted its position in American Financial Group by 10,325.5% in the first quarter. BlackRock Inc. now owns 5,915,732 shares of the insurance provider’s stock valued at $564,476,000 after buying an additional 5,858,989 shares in the last quarter. Victory Capital Management Inc. boosted its position in American Financial Group by 5.8% in the first quarter. Victory Capital Management Inc. now owns 2,098,038 shares of the insurance provider’s stock valued at $200,195,000 after buying an additional 114,826 shares in the last quarter. AQR Capital Management LLC boosted its position in American Financial Group by 0.6% in the first quarter. AQR Capital Management LLC now owns 1,334,072 shares of the insurance provider’s stock valued at $127,297,000 after buying an additional 7,997 shares in the last quarter. Finally, Investec Asset Management LTD boosted its position in American Financial Group by 6.5% in the first quarter. Investec Asset Management LTD now owns 1,160,823 shares of the insurance provider’s stock valued at $110,766,000 after buying an additional 70,548 shares in the last quarter. Institutional investors and hedge funds own 61.90% of the company’s stock.
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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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