Key Points
- American Financial Group VP Mark Weiss sold 2,813 shares at an average price of $144.76, generating $407,209.88. His remaining stake fell by 29.73% to 6,648 shares.
- AFG reported quarterly earnings of $2.82 per share, beating estimates of $2.32, while revenue rose 5.5% year over year to $2.03 billion.
- The company pays a quarterly dividend of $0.88, equivalent to an annualized $3.52 dividend and a 2.4% yield; analysts maintain a consensus “Hold” rating with a $150.75 price target.
American Financial Group, Inc. (NYSE:AFG - Get Free Report) VP Mark Weiss sold 2,813 shares of the firm's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $144.76, for a total transaction of $407,209.88. Following the completion of the sale, the vice president owned 6,648 shares of the company's stock, valued at $962,364.48. This trade represents a 29.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
American Financial Group Price Performance
Shares of NYSE AFG opened at $145.66 on Friday. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of 12.73 and a beta of 0.62. The company's 50-day moving average price is $138.53 and its 200 day moving average price is $133.33. American Financial Group, Inc. has a 52 week low of $123.09 and a 52 week high of $150.02. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.39.
American Financial Group (NYSE:AFG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share for the quarter, beating analysts' consensus estimates of $2.32 by $0.50. American Financial Group had a net margin of 11.51% and a return on equity of 20.43%. The firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $1.85 billion. During the same period in the previous year, the company posted $2.14 earnings per share. American Financial Group's revenue was up 5.5% compared to the same quarter last year. As a group, research analysts forecast that American Financial Group, Inc. will post 11.37 earnings per share for the current fiscal year.
American Financial Group Announces Dividend
The business also recently announced 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 2.4%. The ex-dividend date was Wednesday, July 15th. American Financial Group's payout ratio is presently 30.77%.
Institutional Investors Weigh In On American Financial Group
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of American Financial Group in the second quarter valued at about $1,079,329,000. Norges Bank bought a new stake in shares of American Financial Group during the fourth quarter worth $114,661,000. Bank of New York Mellon Corp acquired a new stake in American Financial Group in the second quarter worth about $102,590,000. M&T Bank Corp raised its holdings in American Financial Group by 20,131.5% during the 4th quarter. M&T Bank Corp now owns 637,090 shares of the insurance provider's stock worth $87,077,000 after purchasing an additional 633,941 shares during the last quarter. Finally, Vestor Capital LLC lifted its position in American Financial Group by 100,006.8% during the 4th quarter. Vestor Capital LLC now owns 600,641 shares of the insurance provider's stock valued at $82,096,000 after purchasing an additional 600,041 shares during the period. Institutional investors and hedge funds own 64.37% of the company's stock.
Analyst Ratings Changes
AFG has been the topic of several research analyst reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of American Financial Group in a research report on Thursday, June 11th. Keefe, Bruyette & Woods boosted their target price on shares of American Financial Group from $140.00 to $148.00 and gave the company a "market perform" rating in a research note on Wednesday, July 8th. Piper Sandler raised their price target on shares of American Financial Group from $135.00 to $140.00 and gave the stock a "neutral" rating in a report on Tuesday, May 26th. Finally, Wells Fargo & Company boosted their price objective on American Financial Group from $158.00 to $173.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, American Financial Group presently has a consensus rating of "Hold" and a consensus price target of $150.75.
Get Our Latest Research Report on AFG
About American Financial Group
(
Get Free Report)
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.
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