American Financial Group (NYSE:AFG) Releases Earnings Results, Beats Estimates By $0.37 EPS

by · The Cerbat Gem

American Financial Group (NYSE:AFG – Get Free Report) announced its quarterly earnings data on Tuesday. The insurance provider reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.37, Zacks reports. American Financial Group had a net margin of 9.21% and a return on equity of 17.41%.

American Financial Group Stock Performance

NYSE:AFG traded up $1.13 on Tuesday, reaching $131.51. 569,794 shares of the company’s stock were exchanged, compared to its average volume of 492,691. American Financial Group has a 52 week low of $114.73 and a 52 week high of $150.19. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of 14.45 and a beta of 0.74. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a fifty day simple moving average of $138.39 and a 200-day simple moving average of $130.55.

American Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Wednesday, October 15th were given a dividend of $0.88 per share. This is a boost from American Financial Group’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Wednesday, October 15th. American Financial Group’s dividend payout ratio (DPR) is 38.68%.

Insider Activity

In other 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 sale, the director directly owned 326,730 shares of the company’s stock, valued at approximately $43,883,106.30. This represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On American Financial Group

A number of institutional investors and hedge funds have recently bought and sold shares of AFG. Vident Advisory LLC lifted its holdings in shares of American Financial Group by 13.9% in the 2nd quarter. Vident Advisory LLC now owns 3,378 shares of the insurance provider’s stock worth $426,000 after acquiring an additional 411 shares during the last quarter. Voleon Capital Management LP bought a new stake in shares of American Financial Group in the 2nd quarter worth approximately $1,602,000. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of American Financial Group by 11.9% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,495 shares of the insurance provider’s stock worth $441,000 after acquiring an additional 372 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of American Financial Group by 12.8% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,070 shares of the insurance provider’s stock worth $387,000 after acquiring an additional 349 shares during the last quarter. Finally, Brevan Howard Capital Management LP bought a new stake in shares of American Financial Group in the 2nd quarter worth approximately $1,029,000. 64.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AFG has been the subject of a number of research reports. Jefferies Financial Group raised their target price on shares of American Financial Group from $125.00 to $130.00 and gave the stock a “hold” rating in a research note on Monday, August 11th. Keefe, Bruyette & Woods lowered their target price on American Financial Group from $127.00 to $124.00 and set a “market perform” rating for the company in a report on Tuesday, August 12th. Wall Street Zen raised shares of American Financial Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of American Financial Group in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $136.75.

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About American Financial Group

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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.

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