Zacks: Analysts Expect American Financial Group, Inc. (AFG) Will Announce Quarterly Sales of $1.18 Billion
Brokerages forecast that American Financial Group, Inc. (NYSE:AFG) will post sales of $1.18 billion for the current quarter, Zacks reports. Two analysts have issued estimates for American Financial Group’s earnings, with estimates ranging from $1.14 billion to $1.21 billion. American Financial Group reported sales of $1.54 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 23.4%. The business is scheduled to report its next quarterly earnings results after the market closes on Tuesday, August 1st.
According to Zacks, analysts expect that American Financial Group will report full-year sales of $1.18 billion for the current year, with estimates ranging from $4.81 billion to $4.85 billion. For the next financial year, analysts expect that the company will report sales of $5.05 billion per share, with estimates ranging from $5.04 billion to $5.07 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for American Financial Group.
American Financial Group (NYSE:AFG) last released its earnings results on Wednesday, May 3rd. The insurance provider reported $1.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the business posted $1.25 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis.
A number of brokerages have weighed in on AFG. Zacks Investment Research lowered shares of American Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 11th. BidaskClub upgraded shares of American Financial Group from a “hold” rating to a “buy” rating in a research note on Friday, July 7th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $92.00.
In other news, CEO S Craig Lindner sold 26,475 shares of the company’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $99.46, for a total value of $2,633,203.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carl H. Lindner III sold 95,405 shares of the company’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $98.68, for a total value of $9,414,565.40. The disclosure for this sale can be found here. Insiders sold a total of 375,215 shares of company stock valued at $37,465,772 over the last 90 days. 14.90% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of AFG. Mackenzie Financial Corp raised its stake in American Financial Group by 0.5% in the first quarter. Mackenzie Financial Corp now owns 6,452 shares of the insurance provider’s stock valued at $616,000 after buying an additional 30 shares during the period. State of Alaska Department of Revenue raised its stake in American Financial Group by 0.7% in the second quarter. State of Alaska Department of Revenue now owns 6,190 shares of the insurance provider’s stock valued at $615,000 after buying an additional 40 shares during the period. Envestnet Asset Management Inc. raised its stake in American Financial Group by 0.7% in the first quarter. Envestnet Asset Management Inc. now owns 7,413 shares of the insurance provider’s stock valued at $707,000 after buying an additional 50 shares during the period. Advisor Partners LLC raised its stake in American Financial Group by 2.9% in the first quarter. Advisor Partners LLC now owns 3,225 shares of the insurance provider’s stock valued at $308,000 after buying an additional 92 shares during the period. Finally, World Asset Management Inc raised its stake in American Financial Group by 1.9% in the first quarter. World Asset Management Inc now owns 4,948 shares of the insurance provider’s stock valued at $472,000 after buying an additional 94 shares during the period. Hedge funds and other institutional investors own 61.90% of the company’s stock.
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American Financial Group (NYSE AFG) traded down 0.32% during mid-day trading on Friday, reaching $100.62. The company’s stock had a trading volume of 79,666 shares. The firm has a market cap of $8.82 billion, a PE ratio of 12.72 and a beta of 0.83. The company has a 50-day moving average price of $100.06 and a 200-day moving average price of $95.35. American Financial Group has a 12-month low of $71.30 and a 12-month high of $103.19.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 25th. Stockholders of record on Friday, July 14th will be paid a $0.3125 dividend. The ex-dividend date of this dividend 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 (DPR) is 15.82%.
American Financial Group Company Profile
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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