American Financial Group, Inc. (NYSE:AFG – Free Report) – Zacks Research reduced their Q3 2023 earnings per share (EPS) estimates for American Financial Group in a report released on Wednesday, August 16th. Zacks Research analyst T. De now anticipates that the insurance provider will post earnings of $2.45 per share for the quarter, down from their previous forecast of $2.60. The consensus estimate for American Financial Group’s current full-year earnings is $10.65 per share. Zacks Research also issued estimates for American Financial Group’s Q4 2023 earnings at $2.95 EPS, FY2023 earnings at $10.67 EPS, Q1 2024 earnings at $2.89 EPS, Q4 2024 earnings at $2.95 EPS and FY2024 earnings at $11.42 EPS.
AFG has been the subject of a number of other reports. Piper Sandler reduced their target price on shares of American Financial Group from $162.00 to $150.00 in a report on Thursday, July 6th. StockNews.com began coverage on shares of American Financial Group in a report on Thursday. They issued a “hold” rating for the company.
View Our Latest Analysis on AFG
American Financial Group Stock Performance
Shares of American Financial Group stock opened at $113.64 on Friday. The company has a market capitalization of $9.64 billion, a PE ratio of 11.36 and a beta of 0.82. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.44 and a current ratio of 0.44. The company has a 50-day simple moving average of $116.99 and a two-hundred day simple moving average of $121.10. American Financial Group has a one year low of $109.99 and a one year high of $150.98.
American Financial Group (NYSE:AFG – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The insurance provider reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.85 by ($0.47). The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.85 billion. American Financial Group had a net margin of 11.38% and a return on equity of 22.51%. During the same quarter in the previous year, the firm earned $2.85 earnings per share.
Institutional Investors Weigh In On American Financial Group
Several hedge funds have recently bought and sold shares of the stock. Vestor Capital LLC raised its stake in shares of American Financial Group by 16,900.2% during the 2nd quarter. Vestor Capital LLC now owns 102,001 shares of the insurance provider’s stock worth $12,113,000 after buying an additional 101,401 shares during the period. Alliancebernstein L.P. raised its stake in shares of American Financial Group by 16.6% during the 2nd quarter. Alliancebernstein L.P. now owns 751,453 shares of the insurance provider’s stock worth $89,235,000 after buying an additional 106,856 shares during the period. XTX Topco Ltd raised its stake in shares of American Financial Group by 84.5% during the 2nd quarter. XTX Topco Ltd now owns 5,132 shares of the insurance provider’s stock worth $609,000 after buying an additional 2,351 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of American Financial Group during the 2nd quarter worth approximately $790,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of American Financial Group by 1.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 618,130 shares of the insurance provider’s stock worth $73,403,000 after buying an additional 6,843 shares during the period. Hedge funds and other institutional investors own 63.42% of the company’s stock.
Insider Transactions at American Financial Group
In other news, Director Lehman John I. Von sold 1,479 shares of the business’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $117.39, for a total transaction of $173,619.81. Following the sale, the director now owns 14,116 shares in the company, valued at $1,657,077.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Lehman John I. Von sold 1,479 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $117.39, for a total value of $173,619.81. Following the sale, the director now owns 14,116 shares in the company, valued at $1,657,077.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Terry S. Jacobs sold 761 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $115.84, for a total value of $88,154.24. Following the completion of the sale, the director now owns 7,500 shares in the company, valued at approximately $868,800. The disclosure for this sale can be found here. Insiders own 14.60% of the company’s stock.
American Financial Group Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Friday, July 14th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.22%. American Financial Group’s payout ratio is 25.20%.
About American Financial Group
American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. It 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.
Further Reading
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