American Financial Group, Inc. (AFG) Announces Quarterly Earnings Results
American Financial Group, Inc. (NYSE:AFG) posted its quarterly earnings data on Tuesday. The insurance provider reported $1.06 EPS for the quarter, topping the consensus estimate of $0.85 by $0.21, Bloomberg Earnings reports. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $979.50 million. American Financial Group had a net margin of 11.89% and a return on equity of 11.66%. American Financial Group’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.51 earnings per share. American Financial Group updated its FY17 guidance to $5.90-6.20 EPS.
Shares of American Financial Group (AFG) traded down 3.25% during mid-day trading on Wednesday, hitting $102.06. 69,324 shares of the stock were exchanged. American Financial Group has a 12 month low of $73.38 and a 12 month high of $106.52. The company has a 50-day moving average price of $103.84 and a 200-day moving average price of $100.96. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of 11.50 and a beta of 0.84.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Friday, October 13th were paid a dividend of $0.35 per share. 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 of this dividend was Thursday, October 12th. American Financial Group’s payout ratio is currently 15.75%.
In related news, insider Michelle A. Gillis sold 2,051 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $104.88, for a total transaction of $215,108.88. Following the completion of the transaction, the insider now directly owns 17,939 shares in the company, valued at approximately $1,881,442.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO S Craig Lindner sold 25,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were 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. Corporate insiders own 13.70% of the company’s stock.
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Several research firms have commented on AFG. Zacks Investment Research lowered shares of American Financial Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Buckingham Research began coverage on shares of American Financial Group in a research note on Monday, September 11th. They set a “neutral” rating and a $103.00 price objective for the company. Finally, BidaskClub raised shares of American Financial Group from a “hold” rating to a “buy” rating in a research note on Friday, July 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $100.67.
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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