American Financial Group, Inc. (AFG) Plans Quarterly Dividend of $0.35
American Financial Group, Inc. (NYSE:AFG) announced a quarterly dividend on Tuesday, October 3rd, Wall Street Journal reports. Shareholders of record on Friday, October 13th will be paid a dividend of 0.35 per share by the insurance provider on Wednesday, October 25th. This represents a $1.40 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Thursday, October 12th. This is a positive change from American Financial Group’s previous quarterly dividend of $0.31.
American Financial Group has increased its dividend payment by an average of 12.7% per year over the last three years and has raised its dividend every year for the last 11 years. American Financial Group has a payout ratio of 18.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect American Financial Group to earn $6.83 per share next year, which means the company should continue to be able to cover its $1.25 annual dividend with an expected future payout ratio of 18.3%.
American Financial Group (AFG) traded up 0.79% during mid-day trading on Tuesday, reaching $105.25. The company had a trading volume of 462,169 shares. American Financial Group has a 52 week low of $73.38 and a 52 week high of $105.58. The stock’s 50-day moving average price is $101.61 and its 200 day moving average price is $99.41. The firm has a market capitalization of $9.26 billion, a PE ratio of 11.86 and a beta of 0.84.
American Financial Group (NYSE:AFG) last released its earnings results on Tuesday, August 1st. The insurance provider reported $1.61 EPS for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.31. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.12 billion. American Financial Group had a return on equity of 11.66% and a net margin of 11.89%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 earnings per share. On average, equities research analysts predict that American Financial Group will post $6.77 EPS for the current year.
In related news, insider Michelle A. Gillis sold 2,051 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $104.88, for a total transaction of $215,108.88. Following the sale, the insider now directly owns 17,939 shares of the company’s stock, valued at $1,881,442.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO S Craig Lindner sold 25,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $104.27, for a total transaction of $2,606,750.00. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by company insiders.
AFG has been the subject of several research reports. Zacks Investment Research upgraded shares of American Financial Group from a “hold” rating to a “buy” rating and set a $117.00 price objective for the company in a research note on Monday, August 7th. BidaskClub raised shares of American Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $100.67.
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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