American Financial Group, Inc. (AFG) to Post Q3 2017 Earnings of $1.00 Per Share, Langen Mcalenn Forecasts
American Financial Group, Inc. (NYSE:AFG) – Analysts at Langen Mcalenn decreased their Q3 2017 earnings per share estimates for shares of American Financial Group in a research report issued on Wednesday. Langen Mcalenn analyst L. Greenberg now forecasts that the insurance provider will earn $1.00 per share for the quarter, down from their prior forecast of $1.53. Langen Mcalenn also issued estimates for American Financial Group’s Q3 2018 earnings at $1.83 EPS.
AFG has been the topic of a number of other research reports. Zacks Investment Research raised shares of American Financial Group from a “hold” rating to a “buy” rating and set a $109.00 target price on the stock in a research note on Thursday, September 7th. BidaskClub lowered shares of American Financial Group from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $100.67.
Shares of American Financial Group (NYSE AFG) opened at 105.68 on Friday. The stock has a 50 day moving average of $101.68 and a 200-day moving average of $99.56. American Financial Group has a 52-week low of $73.38 and a 52-week high of $105.86. The firm has a market capitalization of $9.30 billion, a P/E ratio of 11.91 and a beta of 0.84.
American Financial Group (NYSE:AFG) last released 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. American Financial Group had a net margin of 11.89% and a return on equity of 11.66%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the business earned $1.28 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in American Financial Group by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 6,700,258 shares of the insurance provider’s stock valued at $665,805,000 after acquiring an additional 182,739 shares during the period. BlackRock Inc. lifted its position in American Financial Group by 9.7% during the 2nd quarter. BlackRock Inc. now owns 6,488,701 shares of the insurance provider’s stock valued at $644,783,000 after acquiring an additional 572,969 shares during the period. State Street Corp lifted its position in American Financial Group by 22.8% during the 2nd quarter. State Street Corp now owns 2,641,452 shares of the insurance provider’s stock valued at $262,481,000 after acquiring an additional 490,781 shares during the period. Victory Capital Management Inc. lifted its position in American Financial Group by 1.8% during the 2nd quarter. Victory Capital Management Inc. now owns 2,135,790 shares of the insurance provider’s stock valued at $212,234,000 after acquiring an additional 37,752 shares during the period. Finally, AQR Capital Management LLC lifted its position in American Financial Group by 0.6% during the 1st quarter. AQR Capital Management LLC now owns 1,334,072 shares of the insurance provider’s stock valued at $127,297,000 after acquiring an additional 7,997 shares during the period. 62.33% of the stock is owned by institutional investors.
In related news, CEO S Craig Lindner sold 25,000 shares of American Financial Group stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $104.27, for a total transaction of $2,606,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michelle A. Gillis sold 2,051 shares of American Financial Group stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $104.88, for a total transaction 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 disclosure for this sale can be found here. Company insiders own 14.90% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Friday, October 13th will be given a dividend of $0.35 per share. This is a boost from American Financial Group’s previous quarterly dividend of $0.31. This represents a $1.40 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Thursday, October 12th. American Financial Group’s dividend payout ratio (DPR) is 14.06%.
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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