American Financial Group (NYSE:AFG) Releases Earnings Results, Beats Estimates By $0.50 EPS

American Financial Group (NYSE:AFG) released its earnings results on Tuesday. The insurance provider reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.50, Zacks reports. American Financial Group had a return on equity of 19.50% and a net margin of 10.76%.

American Financial Group Trading Down 0.9%

American Financial Group stock traded down $1.34 during trading hours on Tuesday, reaching $140.58. The company had a trading volume of 453,122 shares, compared to its average volume of 557,518. 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 12-month low of $122.88 and a 12-month high of $150.02. The company has a 50-day moving average price of $137.58 and a 200 day moving average price of $132.97. The firm has a market cap of $11.68 billion, a price-to-earnings ratio of 13.36 and a beta of 0.62.

American Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Wednesday, July 15th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, July 15th. American Financial Group’s payout ratio is 33.46%.

Insider Buying and Selling

In other news, SVP Michelle A. Gillis sold 2,247 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $139.00, for a total value of $312,333.00. Following the transaction, the senior vice president owned 13,135 shares in the company, valued at approximately $1,825,765. This trade represents a 14.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Lawrence Thompson, Jr. sold 11,370 shares of American Financial Group stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $135.05, for a total transaction of $1,535,518.50. Following the completion of the transaction, the insider directly owned 584,098 shares in the company, valued at approximately $78,882,434.90. The trade was a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 16.90% of the company’s stock.

Institutional Trading of American Financial Group

A number of institutional investors have recently modified their holdings of AFG. Index Technologies Group LLC purchased a new stake in American Financial Group in the fourth quarter worth about $234,000. National Bank of Canada FI grew its stake in American Financial Group by 82.8% in the third quarter. National Bank of Canada FI now owns 788 shares of the insurance provider’s stock worth $115,000 after purchasing an additional 357 shares during the period. Scotia Capital Inc. purchased a new stake in American Financial Group in the third quarter worth $223,000. Prudential PLC bought a new position in American Financial Group in the third quarter worth $218,000. Finally, Orion Porfolio Solutions LLC raised its holdings in American Financial Group by 9.7% in the second quarter. Orion Porfolio Solutions LLC now owns 1,895 shares of the insurance provider’s stock worth $239,000 after purchasing an additional 168 shares in the last quarter. 64.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on AFG shares. Wells Fargo & Company lifted their price target on shares of American Financial Group from $158.00 to $173.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American Financial Group in a research note on Thursday, June 11th. Piper Sandler increased their target price on shares of American Financial Group from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of American Financial Group from $140.00 to $148.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $150.75.

American Financial Group Company Profile

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.