American Financial Group (NYSE:AFG) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

American Financial Group (NYSE:AFG) issued its quarterly earnings data on Wednesday. The insurance provider reported $2.76 EPS for the quarter, topping the consensus estimate of $2.70 by $0.06, Briefing.com reports. American Financial Group had a return on equity of 22.14% and a net margin of 10.89%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the business posted $2.89 EPS.

American Financial Group Price Performance

Shares of NYSE AFG traded up $0.16 during midday trading on Thursday, reaching $128.90. The company’s stock had a trading volume of 35,842 shares, compared to its average volume of 329,305. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.47 and a current ratio of 0.47. American Financial Group has a fifty-two week low of $105.22 and a fifty-two week high of $137.71. The business’s 50 day moving average price is $129.92 and its two-hundred day moving average price is $120.92. The company has a market cap of $10.81 billion, a P/E ratio of 12.80 and a beta of 0.79.

American Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were given a $0.71 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.20%. American Financial Group’s payout ratio is 28.26%.

Insider Activity

In other American Financial Group news, SVP Michelle A. Gillis sold 5,176 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $121.00, for a total transaction of $626,296.00. Following the completion of the transaction, the senior vice president now directly owns 45,372 shares in the company, valued at $5,490,012. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Michelle A. Gillis sold 5,176 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $121.00, for a total transaction of $626,296.00. Following the completion of the transaction, the senior vice president now directly owns 45,372 shares in the company, valued at $5,490,012. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mark A. Weiss sold 2,500 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $127.06, for a total transaction of $317,650.00. Following the transaction, the vice president now owns 7,553 shares of the company’s stock, valued at $959,684.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,843 shares of company stock worth $1,854,746. Corporate insiders own 14.50% of the company’s stock.

Analyst Ratings Changes

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

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.