Key Points
- American Financial Group CFO Brian Hertzman sold 950 shares for approximately $135,727, reducing his direct ownership by 7.87% to 11,123 shares.
- The insurer reported strong quarterly results, with EPS of $2.82 beating estimates by $0.50 and revenue of $2.03 billion rising 5.5% year over year.
- AFG pays a quarterly dividend of $0.88 per share, equivalent to an annualized $3.52 dividend and a 2.5% yield; analysts maintain a consensus “Hold” rating with a $156 target price.
American Financial Group, Inc. (NYSE:AFG - Get Free Report) CFO Brian Hertzman sold 950 shares of the firm's stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 11,123 shares in the company, valued at $1,589,143.01. This represents a 7.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
American Financial Group Stock Up 0.2%
NYSE AFG opened at $142.72 on Thursday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.38. American Financial Group, Inc. has a 1-year low of $123.09 and a 1-year high of $150.02. The company has a 50 day moving average of $142.68 and a 200-day moving average of $135.24. The company has a market cap of $11.83 billion, a price-to-earnings ratio of 12.48 and a beta of 0.60.
American Financial Group (NYSE:AFG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.32 by $0.50. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.85 billion. American Financial Group had a return on equity of 20.35% and a net margin of 11.51%.The firm's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.14 earnings per share. On average, equities research analysts expect that American Financial Group, Inc. will post 12.13 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. Stockholders of record on Wednesday, July 15th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Wednesday, July 15th. American Financial Group's dividend payout ratio is presently 30.77%.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on AFG. Weiss Ratings raised American Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Keefe, Bruyette & Woods boosted their price target on American Financial Group from $148.00 to $153.00 and gave the company a "market perform" rating in a research note on Tuesday, August 11th. Wall Street Zen raised shares of American Financial Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Wells Fargo & Company increased their price objective 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. Finally, Piper Sandler raised their target price on shares of American Financial Group from $140.00 to $156.00 and gave the company a "neutral" rating in a report on Monday, August 10th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $156.00.
View Our Latest Analysis on AFG
Hedge Funds Weigh In On American Financial Group
Hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System lifted its position in shares of American Financial Group by 13,419.0% during the 2nd quarter. California State Teachers Retirement System now owns 10,769,223 shares of the insurance provider's stock worth $1,507,045,000 after buying an additional 10,689,563 shares during the last quarter. BlackRock Inc. bought a new position in American Financial Group in the second quarter valued at about $1,079,329,000. Charles Schwab Investment Management Inc. raised its stake in American Financial Group by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,567,721 shares of the insurance provider's stock worth $350,956,000 after acquiring an additional 57,246 shares in the last quarter. Geode Capital Management LLC raised its stake in American Financial Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 1,732,557 shares of the insurance provider's stock worth $236,645,000 after acquiring an additional 29,731 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in American Financial Group by 19.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,506,510 shares of the insurance provider's stock worth $192,395,000 after acquiring an additional 240,509 shares in the last quarter. Institutional investors own 64.37% of the company's stock.
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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