American Financial Group (NYSE:AFG) Issues Earnings Results, Beats Expectations By $0.11 EPS

American Financial Group (NYSE:AFG) released its quarterly earnings data on Tuesday. The insurance provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.11, Briefing.com reports. American Financial Group had a net margin of 11.03% and a return on equity of 21.34%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the firm earned $2.38 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year.

American Financial Group Stock Down 0.7 %

American Financial Group stock traded down $0.87 during trading hours on Wednesday, reaching $123.47. The stock had a trading volume of 290,072 shares, compared to its average volume of 307,769. American Financial Group has a 52 week low of $105.22 and a 52 week high of $137.71. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.46 and a quick ratio of 0.46. The company has a market cap of $10.36 billion, a price-to-earnings ratio of 11.82 and a beta of 0.78. The business’s 50 day moving average price is $125.88 and its 200-day moving average price is $127.15.

American Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 15th were issued a $0.71 dividend. The ex-dividend date was Monday, July 15th. This represents a $2.84 dividend on an annualized basis and a yield of 2.30%. American Financial Group’s dividend payout ratio is presently 27.18%.

Analyst Ratings Changes

AFG has been the subject of a number of research reports. Citigroup lowered shares of American Financial Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $144.00 to $137.00 in a research note on Friday, June 28th. Piper Sandler upped their price objective on shares of American Financial Group from $129.00 to $135.00 and gave the stock a “neutral” rating in a research note on Monday, May 6th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $131.75.

Insider Activity

In related news, Director Amy Y. Murray acquired 1,200 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average price of $125.17 per share, for a total transaction of $150,204.00. Following the completion of the acquisition, the director now directly owns 1,200 shares in the company, valued at approximately $150,204. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 14.50% of the company’s stock.

American Financial Group Company Profile

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.