American Financial Group Inc (NYSE:AFG) declared a special dividend on Monday, November 5th, RTT News reports. Shareholders of record on Friday, November 16th will be given a dividend of 1.50 per share by the insurance provider on Monday, November 26th. The ex-dividend date is Thursday, November 15th.
American Financial Group has raised its dividend payment by an average of 12.3% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. American Financial Group has a payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings. Analysts expect American Financial Group to earn $8.62 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 18.6%.
AFG opened at $106.49 on Friday. American Financial Group has a 1 year low of $98.22 and a 1 year high of $121.69. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.15 and a current ratio of 0.15. The stock has a market capitalization of $9.42 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 1.00 and a beta of 0.84.
American Financial Group (NYSE:AFG) last posted its earnings results on Tuesday, October 30th. The insurance provider reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.31. American Financial Group had a return on equity of 15.37% and a net margin of 9.98%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the firm earned $1.06 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts predict that American Financial Group will post 8.6 EPS for the current fiscal year.
In other American Financial Group news, CEO Carl H. Lindner III sold 119,448 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $111.58, for a total value of $13,328,007.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Carl H. Lindner III sold 181,000 shares of the firm’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $113.49, for a total value of $20,541,690.00. The disclosure for this sale can be found here. In the last three months, insiders sold 318,169 shares of company stock valued at $35,862,424. Corporate insiders own 14.90% of the company’s stock.
Several equities analysts have issued reports on AFG shares. Zacks Investment Research lowered American Financial Group from a “hold” rating to a “sell” rating in a research note on Monday, October 15th. ValuEngine downgraded American Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. American Financial Group presently has a consensus rating of “Hold” and a consensus price target of $120.33.
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About American Financial Group
American Financial Group, Inc, through its subsidiaries, provides property and casualty insurance products in the United States. The company operates through Property and Casualty Insurance, Annuity, Run-Off Long-Term Care and Life, and Other segments. 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 coverages; specialty casualty insurance, including primarily excess and surplus, general liability, executive liability, professional liability, umbrella and excess liability, and specialty coverage in targeted markets and customized programs for small to mid-sized businesses; and specialty financial insurance products comprising risk management insurance programs for leasing and financing institutions, surety and fidelity products, and trade credit insurance.
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