American Financial Group Inc (NYSE:AFG) declared a quarterly dividend on Tuesday, October 1st, Zacks reports. Stockholders of record on Tuesday, October 15th will be given a dividend of 0.45 per share by the insurance provider on Friday, October 25th. This represents a $1.80 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Friday, October 11th. This is a positive change from American Financial Group’s previous quarterly dividend of $0.40.
American Financial Group has raised its dividend by an average of 12.1% per year over the last three years and has increased its dividend every year for the last 13 years. American Financial Group has a payout ratio of 21.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect American Financial Group to earn $9.08 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 19.8%.
AFG stock opened at $101.22 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.15 and a quick ratio of 0.15. The stock has a market capitalization of $9.27 billion, a P/E ratio of 12.05, a P/E/G ratio of 1.93 and a beta of 0.84. The business has a 50-day moving average of $104.07 and a 200-day moving average of $101.83. American Financial Group has a fifty-two week low of $84.18 and a fifty-two week high of $112.22.
AFG has been the subject of several recent research reports. Buckingham Research raised American Financial Group from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research report on Thursday, June 13th. Zacks Investment Research raised American Financial Group from a “sell” rating to a “hold” rating and set a $108.00 price target for the company in a research report on Wednesday, August 14th.
In related news, Director James E. Evans sold 2,365 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $101.27, for a total transaction of $239,503.55. Following the completion of the transaction, the director now directly owns 130,423 shares of the company’s stock, valued at $13,207,937.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Carl H. Lindner III sold 117,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $104.11, for a total value of $12,180,870.00. The disclosure for this sale can be found here. Insiders have sold 157,659 shares of company stock valued at $16,533,319 over the last three months. Insiders own 11.90% of the company’s stock.
About American Financial Group
American Financial Group, Inc, an insurance holding company, provides property and casualty insurance products in the United States. The company operates through three segments: Property and Casualty Insurance, Annuity, and Other. It offers property and transportation insurance products, such as physical damage and liability coverage for buses, trucks and recreational vehicles, inland and ocean marine, agricultural-related products, and other property; specialty casualty insurance, including primarily excess and surplus, general liability, executive liability, professional 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 leasing and financing institutions, surety and fidelity products, and trade credit insurance.
See Also: Coverage Ratio
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