American Financial Group, Inc. Declares Quarterly Dividend of $0.88 (NYSE:AFG)

American Financial Group, Inc. (NYSE:AFG) announced a quarterly dividend on Wednesday, July 1st. Stockholders of record on Wednesday, July 15th will be given a dividend of 0.88 per share by the insurance provider on Friday, July 24th. This represents a c) dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, July 15th.

American Financial Group has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 19 consecutive years. American Financial Group has a payout ratio of 29.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect American Financial Group to earn $11.97 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 29.4%.

American Financial Group Price Performance

NYSE AFG traded up $0.88 during mid-day trading on Wednesday, hitting $140.82. The stock had a trading volume of 423,382 shares, compared to its average volume of 579,818. The firm’s 50 day moving average is $133.23 and its 200 day moving average is $131.96. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 13.39 and a beta of 0.64. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.48 and a quick ratio of 0.48. American Financial Group has a twelve month low of $122.11 and a twelve month high of $150.02.

American Financial Group (NYSE:AFG) last posted its quarterly earnings results on Thursday, April 30th. The insurance provider reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.07). American Financial Group had a return on equity of 19.50% and a net margin of 10.76%.The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the previous year, the firm posted $1.81 earnings per share. The business’s revenue was down .1% compared to the same quarter last year. Equities research analysts forecast that American Financial Group will post 11.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AFG shares. Wells Fargo & Company boosted their target price on American Financial Group from $155.00 to $158.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Piper Sandler lifted their price objective on American Financial Group from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. Keefe, Bruyette & Woods boosted their price objective on American Financial Group from $134.00 to $140.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 25th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of American Financial Group in a report on Thursday, June 11th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, American Financial Group currently has an average rating of “Hold” and an average target price of $145.00.

About American Financial Group

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.