$1.29 Billion in Sales Expected for American Financial Group, Inc. (AFG) This Quarter
Analysts expect American Financial Group, Inc. (NYSE:AFG) to report $1.29 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for American Financial Group’s earnings, with the lowest sales estimate coming in at $1.24 billion and the highest estimate coming in at $1.33 billion. American Financial Group reported sales of $1.64 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 21.3%. The company is scheduled to announce 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 fiscal year, analysts anticipate that the company will report 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 analysts that follow American Financial Group.
American Financial Group (NYSE:AFG) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate 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 for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the company posted $1.28 EPS.
Several analysts have recently weighed in on AFG shares. Zacks Investment Research cut American Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. BidaskClub upgraded American Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. American Financial Group presently has an average rating of “Hold” and an average price target of $100.67.
In related news, insider Michelle A. Gillis sold 2,051 shares of American Financial Group stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $104.88, for a total value of $215,108.88. Following the transaction, the insider now directly owns 17,939 shares of the company’s stock, valued at $1,881,442.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO S Craig Lindner sold 25,000 shares of American Financial Group stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $104.27, for a total value of $2,606,750.00. The disclosure for this sale can be found here. 14.90% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of AFG. BlackRock Inc. lifted its stake in shares of 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 worth $564,476,000 after acquiring an additional 5,858,989 shares during the period. State Street Corp lifted its stake in shares of American Financial Group by 22.8% in the second quarter. State Street Corp now owns 2,641,452 shares of the insurance provider’s stock worth $262,481,000 after acquiring an additional 490,781 shares during the period. Vanguard Group Inc. lifted its stake 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 acquiring an additional 431,262 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of American Financial Group by 35.0% in the second quarter. Goldman Sachs Group Inc. now owns 913,932 shares of the insurance provider’s stock worth $90,817,000 after acquiring an additional 237,195 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of American Financial Group in the second quarter worth approximately $20,516,000. 62.33% of the stock is currently owned by institutional investors.
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Shares of American Financial Group (NYSE:AFG) opened at 105.10 on Thursday. The firm has a market capitalization of $9.25 billion, a P/E ratio of 11.84 and a beta of 0.84. American Financial Group has a 12 month low of $73.38 and a 12 month high of $105.58. The company has a 50 day moving average of $101.64 and a 200-day moving average of $99.51.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Friday, October 13th will be paid a $0.35 dividend. This is a positive change from American Financial Group’s previous quarterly dividend of $0.31. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Thursday, October 12th. American Financial Group’s payout ratio is currently 10.57%.
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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