$1.29 Billion in Sales Expected for American Financial Group, Inc. (NYSE:AFG) This Quarter
Brokerages expect that American Financial Group, Inc. (NYSE:AFG) will report $1.29 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for American Financial Group’s earnings, with estimates ranging from $1.24 billion to $1.33 billion. American Financial Group reported sales of $1.64 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 21.3%. The firm is expected to report its next quarterly earnings report on Tuesday, November 7th.
On average, analysts expect that American Financial Group will report full-year sales of $1.29 billion for the current fiscal year, with estimates ranging from $4.76 billion to $4.88 billion. For the next year, analysts anticipate that the business will post sales of $5.10 billion per share, with estimates ranging from $5.08 billion to $5.13 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow American Financial Group.
American Financial Group (NYSE:AFG) last released its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.31. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.12 billion. American Financial Group had a net margin of 11.89% and a return on equity of 11.66%. American Financial Group’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $1.28 EPS.
AFG has been the subject of several analyst reports. Zacks Investment Research raised shares of American Financial Group from a “hold” rating to a “buy” rating and set a $117.00 price target for the company in a research report on Monday. BidaskClub raised shares of American Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $93.67.
Shares of American Financial Group (AFG) opened at 105.28 on Thursday. American Financial Group has a 1-year low of $72.14 and a 1-year high of $105.33. The firm’s 50-day moving average is $100.56 and its 200-day moving average is $96.20. The company has a market capitalization of $9.23 billion, a price-to-earnings ratio of 11.87 and a beta of 0.83.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Friday, July 14th were given a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Wednesday, July 12th. American Financial Group’s payout ratio is 14.06%.
In other American Financial Group news, Director William W. Verity sold 1,773 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $99.26, for a total transaction of $175,987.98. Following the completion of the sale, the director now directly owns 5,135 shares of the company’s stock, valued at $509,700.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO S Craig Lindner sold 11,178 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $98.30, for a total transaction of $1,098,797.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 327,169 shares of company stock valued at $32,890,665. Insiders own 14.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in AFG. Vanguard Group Inc. raised its stake in 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 valued at $621,902,000 after buying an additional 431,262 shares during the last quarter. BlackRock Inc. raised its stake 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 during the last quarter. Victory Capital Management Inc. raised its stake in American Financial Group by 1.8% in the second quarter. Victory Capital Management Inc. now owns 2,135,790 shares of the insurance provider’s stock valued at $212,234,000 after buying an additional 37,752 shares during the last quarter. AQR Capital Management LLC increased 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 during the period. Finally, Investec Asset Management LTD increased 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 during the period. 62.33% of the stock is owned by institutional investors and hedge funds.
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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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