American Financial Group (NYSE:AFG) Posts Earnings Results, Beats Estimates By $0.06 EPS

American Financial Group (NYSE:AFG) released its earnings results on Thursday. The insurance provider reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.06, Briefing.com reports. American Financial Group had a net margin of 11.03% and a return on equity of 21.56%. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter last year, the company earned $2.89 earnings per share.

American Financial Group Price Performance

NYSE:AFG traded down $0.27 during trading hours on Friday, reaching $127.41. The company had a trading volume of 246,863 shares, compared to its average volume of 273,413. The firm has a market capitalization of $10.68 billion, a PE ratio of 12.19 and a beta of 0.79. The stock has a 50-day moving average of $129.98 and a two-hundred day moving average of $121.09. American Financial Group has a one year low of $105.22 and a one year high of $137.71. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.35.

American Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Friday, April 12th. American Financial Group’s dividend payout ratio is 27.18%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Citigroup lifted their price objective on American Financial Group from $139.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 25th. Piper Sandler reiterated a “neutral” rating and set a $129.00 price target on shares of American Financial Group in a research note on Monday, April 1st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, American Financial Group has an average rating of “Hold” and a consensus price target of $133.50.

Insider Buying and Selling at American Financial Group

In related news, CFO Brian S. Hertzman sold 1,067 shares of American Financial Group stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $126.95, for a total transaction of $135,455.65. Following the completion of the transaction, the chief financial officer now directly owns 10,583 shares of the company’s stock, valued at approximately $1,343,511.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Michelle A. Gillis sold 5,176 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $121.00, for a total transaction of $626,296.00. Following the transaction, the senior vice president now owns 45,372 shares in the company, valued at approximately $5,490,012. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brian S. Hertzman sold 1,067 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $126.95, for a total transaction of $135,455.65. Following the completion of the sale, the chief financial officer now owns 10,583 shares of the company’s stock, valued at approximately $1,343,511.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,843 shares of company stock valued at $1,854,746. 14.50% of the stock is currently owned by company insiders.

About American Financial Group

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.