American Financial Group (NYSE:AFG) Announces Earnings Results, Beats Estimates By $0.48 EPS

by · The Markets Daily

American Financial Group (NYSE:AFG – Get Free Report) released its quarterly earnings data on Tuesday. The insurance provider reported $3.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.17 by $0.48, Zacks reports. American Financial Group had a return on equity of 18.05% and a net margin of 9.66%.

American Financial Group Price Performance

Shares of NYSE:AFG traded down $0.19 on Tuesday, hitting $129.96. The company had a trading volume of 616,101 shares, compared to its average volume of 540,245. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.38. The company has a market cap of $10.84 billion, a PE ratio of 13.65 and a beta of 0.71. American Financial Group has a 52-week low of $114.73 and a 52-week high of $150.02. The business has a 50 day moving average of $133.91 and a 200 day moving average of $135.08.

American Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 27th. Stockholders of record on Thursday, January 15th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Thursday, January 15th. American Financial Group’s dividend payout ratio is currently 36.97%.

Insider Activity

In other American Financial Group news, CFO Brian S. Hertzman sold 1,777 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $142.51, for a total transaction of $253,240.27. Following the sale, the chief financial officer directly owned 11,300 shares of the company’s stock, valued at $1,610,363. This trade represents a 13.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 17.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On American Financial Group

A number of institutional investors have recently bought and sold shares of the stock. Brooklyn Investment Group increased its position in shares of American Financial Group by 65.7% in the 3rd quarter. Brooklyn Investment Group now owns 1,992 shares of the insurance provider’s stock worth $290,000 after purchasing an additional 790 shares during the last quarter. Vise Technologies Inc. increased its holdings in American Financial Group by 48.0% in the third quarter. Vise Technologies Inc. now owns 2,589 shares of the insurance provider’s stock valued at $377,000 after buying an additional 840 shares during the last quarter. Parallel Advisors LLC raised its stake in American Financial Group by 14.3% during the third quarter. Parallel Advisors LLC now owns 2,512 shares of the insurance provider’s stock valued at $366,000 after buying an additional 314 shares in the last quarter. Orion Porfolio Solutions LLC lifted its holdings in American Financial Group by 9.7% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 1,895 shares of the insurance provider’s stock worth $239,000 after buying an additional 168 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its position in shares of American Financial Group by 54.5% in the 2nd quarter. EP Wealth Advisors LLC now owns 2,749 shares of the insurance provider’s stock worth $347,000 after acquiring an additional 970 shares in the last quarter. 64.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AFG has been the topic of a number of recent analyst reports. Weiss Ratings cut shares of American Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Jefferies Financial Group restated a “hold” rating and set a $142.00 target price on shares of American Financial Group in a research report on Tuesday, November 11th. Piper Sandler increased their target price on shares of American Financial Group from $130.00 to $139.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Finally, Wells Fargo & Company started coverage on American Financial Group in a research note on Thursday, January 15th. They set an “overweight” rating and a $165.00 price target on the stock. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $142.50.

View Our Latest Analysis on American Financial Group

American Financial Group Company Profile

(Get Free Report)

American Financial Group, Inc (NYSE: AFG) is a diversified holding company primarily engaged in property and casualty insurance and reinsurance. Through its flagship subsidiary, Great American Insurance Company, the firm underwrites a broad range of specialty insurance products for commercial and industrial clients, including inland marine, excess and surplus lines, executive liability, and environmental liability coverage. In addition, American Financial Group offers supplemental accident and health insurance and assumes reinsurance risks from other insurers, helping to diversify its underwriting portfolio.

The company traces its roots to 1946, when it was founded by Carl Lindner, Sr.

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