American Financial Group (NYSE:AFG) Posts Earnings Results, Beats Expectations By $0.34 EPS

American Financial Group (NYSE:AFG) announced its quarterly earnings data on Tuesday. The insurance provider reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.34, Zacks reports. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.02 billion. American Financial Group had a return on equity of 17.41% and a net margin of 9.21%.The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.31 earnings per share.

American Financial Group Stock Performance

AFG stock opened at $131.51 on Wednesday. The company has a 50-day simple moving average of $138.39 and a 200 day simple moving average of $130.55. The company has a market capitalization of $10.97 billion, a P/E ratio of 14.45 and a beta of 0.74. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.33. American Financial Group has a fifty-two week low of $114.73 and a fifty-two week high of $150.19.

American Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Wednesday, October 15th were issued a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, October 15th. This is an increase from American Financial Group’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 2.7%. American Financial Group’s dividend payout ratio is currently 38.68%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AFG shares. Wall Street Zen upgraded American Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Jefferies Financial Group upped their target price on American Financial Group from $125.00 to $130.00 and gave the stock a “hold” rating in a research report on Monday, August 11th. Weiss Ratings reiterated a “hold (c+)” rating on shares of American Financial Group in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods cut their price target on American Financial Group from $127.00 to $124.00 and set a “market perform” rating on the stock in a research note on Tuesday, August 12th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $136.75.

Insider Transactions at American Financial Group

In related news, Director Stephen Craig Lindner, Jr. sold 10,000 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $134.31, for a total value of $1,343,100.00. Following the completion of the transaction, the director owned 326,730 shares in the company, valued at $43,883,106.30. This represents a 2.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 17.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AFG. State of Wyoming acquired a new position in American Financial Group in the second quarter worth approximately $57,000. EverSource Wealth Advisors LLC boosted its position in shares of American Financial Group by 144.8% in the second quarter. EverSource Wealth Advisors LLC now owns 793 shares of the insurance provider’s stock worth $100,000 after buying an additional 469 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of American Financial Group by 145.8% during the 1st quarter. Jones Financial Companies Lllp now owns 1,278 shares of the insurance provider’s stock valued at $168,000 after buying an additional 758 shares during the period. Orion Porfolio Solutions LLC boosted its position in American Financial Group by 9.7% during the second quarter. Orion Porfolio Solutions LLC now owns 1,895 shares of the insurance provider’s stock valued at $239,000 after purchasing an additional 168 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its position in American Financial Group by 54.5% during the second quarter. EP Wealth Advisors LLC now owns 2,749 shares of the insurance provider’s stock valued at $347,000 after purchasing an additional 970 shares during the last quarter. 64.37% of the stock is owned by institutional investors.

About American Financial Group

American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. The company offers property and transportation insurance products, such as physical damage and liability coverage for buses and trucks, inland and ocean marine, agricultural-related products, and other commercial property and specialty transportation coverages; specialty casualty insurance, including primarily excess and surplus, executive and professional liability, general liability, umbrella and excess liability, and specialty coverage in targeted markets, as well as customized programs for small to mid-sized businesses and workers’ compensation insurance; and specialty financial insurance products comprising risk management insurance programs for lending and leasing institutions, fidelity and surety products, and trade credit insurance.