American Financial Group (NYSE:AFG) Posts Earnings Results, Beats Estimates By $0.17 EPS

American Financial Group (NYSE:AFG) posted its quarterly earnings results on Tuesday. The insurance provider reported $3.97 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.17, Zacks reports. American Financial Group had a net margin of 11.51% and a return on equity of 20.35%. During the same period in the prior year, the company posted $2.69 EPS.

American Financial Group Trading Down 1.4%

American Financial Group stock traded down $2.11 during mid-day trading on Tuesday, hitting $153.06. 725,679 shares of the stock were exchanged, compared to its average volume of 504,195. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.38. American Financial Group has a 12 month low of $123.09 and a 12 month high of $156.24. The firm’s fifty day simple moving average is $144.19 and its two-hundred day simple moving average is $136.64. The stock has a market capitalization of $12.69 billion, a price-to-earnings ratio of 13.38 and a beta of 0.55.

American Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Thursday, October 15th were issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 2.5%. The ex-dividend date was Thursday, October 15th. This is a positive change from American Financial Group’s previous quarterly dividend of $0.88. American Financial Group’s dividend payout ratio (DPR) is 33.92%.

Insider Buying and Selling

In other news, VP Mark Weiss sold 2,813 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $144.76, for a total value of $407,209.88. Following the sale, the vice president directly owned 6,648 shares of the company’s stock, valued at approximately $962,364.48. This represents a 29.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brian Hertzman sold 950 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $142.87, for a total transaction of $135,726.50. Following the sale, the chief financial officer owned 11,123 shares of the company’s stock, valued at approximately $1,589,143.01. This trade represents a 7.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 16.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AFG shares. Piper Sandler upped their price objective on shares of American Financial Group from $140.00 to $156.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Weiss Ratings upgraded shares of American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Wells Fargo & Company cut their target price on shares of American Financial Group from $175.00 to $166.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Keefe, Bruyette & Woods decreased their target price on shares of American Financial Group from $153.00 to $147.00 and set a “market perform” rating on the stock in a research note on Monday, October 12th. Finally, Wall Street Zen upgraded shares of American Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, October 17th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, American Financial Group has an average rating of “Hold” and a consensus target price of $152.75.

About American Financial Group

American Financial Group, Inc (NYSE:AFG) is an insurance holding company headquartered in Cincinnati, Ohio. Through its Great American Insurance Group operations, the company primarily provides property and casualty insurance, with an emphasis on specialty commercial products and markets.

Its insurance offerings serve businesses, organizations and individuals across a range of industries. Product lines have included commercial property and liability coverage, workers’ compensation, transportation, agriculture and crop insurance, marine and other specialty risks.