Key Points
- CFO Brian Hertzman sold 301 AFG shares for $46,742.29, reducing his direct stake by 16.24% to 1,553 shares.
- American Financial Group beat quarterly expectations, reporting EPS of $3.97 versus $3.80 forecast and revenue of $2.58 billion versus $2.40 billion expected.
- The company announced a $3.50-per-share special dividend, payable November 25 to shareholders of record on November 16.
American Financial Group, Inc. (NYSE:AFG - Get Free Report) CFO Brian Hertzman sold 301 shares of the stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $155.29, for a total transaction of $46,742.29. Following the completion of the sale, the chief financial officer directly owned 1,553 shares of the company's stock, valued at $241,165.37. This trade represents a 16.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
American Financial Group Price Performance
AFG opened at $157.63 on Tuesday. American Financial Group, Inc. has a twelve month low of $123.09 and a twelve month high of $159.61. The firm has a market cap of $13.07 billion, a price-to-earnings ratio of 11.99 and a beta of 0.55. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $145.15 and a 200 day simple moving average of $137.13.
American Financial Group (NYSE:AFG - Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The insurance provider reported $3.97 EPS for the quarter, topping analysts' consensus estimates of $3.80 by $0.17. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.40 billion. American Financial Group had a net margin of 11.96% and a return on equity of 22.50%. During the same quarter in the previous year, the business posted $2.69 EPS. Equities research analysts expect that American Financial Group, Inc. will post 12.29 EPS for the current fiscal year.
American Financial Group Announces Dividend
The firm also recently announced a special dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 16th will be paid a dividend of $3.50 per share. The ex-dividend date is Monday, November 16th. American Financial Group's dividend payout ratio is 31.65%.
Institutional Trading of American Financial Group
A number of institutional investors and hedge funds have recently modified their holdings of AFG. BlackRock Inc. bought a new position in American Financial Group during the 2nd quarter worth $1,079,329,000. Bank of New York Mellon Corp bought a new position in shares of American Financial Group during the second quarter worth about $102,590,000. Bank of America Corp DE bought a new position in shares of American Financial Group during the second quarter worth about $53,939,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of American Financial Group by 337.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 431,144 shares of the insurance provider's stock worth $55,061,000 after acquiring an additional 332,517 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of American Financial Group by 433.2% in the 1st quarter. First Trust Advisors LP now owns 316,974 shares of the insurance provider's stock worth $40,481,000 after acquiring an additional 257,522 shares during the period. 64.37% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
AFG has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of American Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Wells Fargo & Company raised their price objective on shares of American Financial Group from $166.00 to $180.00 and gave the stock an "overweight" rating in a report on Thursday, November 5th. Piper Sandler boosted their target price 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. Keefe, Bruyette & Woods upped their target price on shares of American Financial Group from $147.00 to $150.00 and gave the company a "market perform" rating in a research note on Monday. Finally, Oppenheimer set a $150.00 price target on shares of American Financial Group in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $155.60.
Read Our Latest Report on AFG
American Financial Group Company Profile
(
Get Free Report)
American Financial Group, Inc is an insurance holding company headquartered in Cincinnati, Ohio. Through Great American Insurance Group, it provides property and casualty insurance, with a focus on specialty commercial markets and coverage tailored to specific industries and customer needs.
Its products include insurance for businesses, farms and agricultural operations, and individuals, offered through a network of independent agents and brokers. AFG's insurance operations serve customers primarily in the United States, with some products and services available internationally.
The company traces its roots to 1959, while its Great American Insurance Company subsidiary was founded in 1872.
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