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

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

American Financial Group Price Performance

Shares of NYSE:AFG traded up $0.50 during midday trading on Thursday, hitting $129.24. 93,177 shares of the stock were exchanged, compared to its average volume of 329,832. The stock has a market cap of $10.84 billion, a P/E ratio of 12.80 and a beta of 0.79. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.35. American Financial Group has a twelve month low of $105.22 and a twelve month high of $137.71. The company has a 50 day moving average price of $129.92 and a 200-day moving average price of $120.92.

American Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Friday, April 12th. American Financial Group’s dividend payout ratio (DPR) is presently 28.26%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Citigroup boosted their target price on shares of American Financial Group from $139.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Piper Sandler restated a “neutral” rating and set a $129.00 target price on shares of American Financial Group in a research report on Monday, April 1st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $133.50.

Insider Transactions at American Financial Group

In other news, Director James E. Evans sold 2,274 shares of American Financial Group stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $128.64, for a total transaction of $292,527.36. Following the completion of the transaction, the director now owns 105,302 shares of the company’s stock, valued at approximately $13,546,049.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director James E. Evans sold 2,274 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $128.64, for a total value of $292,527.36. Following the completion of the transaction, the director now owns 105,302 shares of the company’s stock, valued at approximately $13,546,049.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian S. Hertzman sold 1,067 shares of the business’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 transaction, the chief financial officer now directly 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. Insiders sold 14,843 shares of company stock valued at $1,854,746 in the last 90 days. 14.50% of the stock is currently owned by 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.