American Financial Group (NYSE:AFG) Releases Earnings Results, Beats Expectations By $0.11 EPS

American Financial Group (NYSE:AFG) issued its earnings results on Tuesday. The insurance provider reported $2.12 EPS for the quarter, beating the Zacks’ consensus estimate of $2.01 by $0.11, Bloomberg Earnings reports. The business had revenue of $1.20 billion during the quarter. American Financial Group had a net margin of 9.45% and a return on equity of 13.90%. American Financial Group’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company earned $2.04 earnings per share. American Financial Group updated its FY19 guidance to $8.40 – $8.80 EPS.

Shares of NYSE AFG traded up $2.16 during mid-day trading on Tuesday, reaching $100.04. The company’s stock had a trading volume of 436,368 shares, compared to its average volume of 357,725. The business has a 50-day simple moving average of $103.49. The firm has a market cap of $9.04 billion, a PE ratio of 11.91, a P/E/G ratio of 1.92 and a beta of 0.85. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.25. American Financial Group has a 1-year low of $84.18 and a 1-year high of $114.65.

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Monday, July 15th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Friday, July 12th. American Financial Group’s dividend payout ratio (DPR) is 19.05%.

In related news, CEO Carl H. Lindner III sold 50,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $100.50, for a total value of $5,025,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Carl H. Lindner III sold 100,000 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $103.81, for a total transaction of $10,381,000.00. The disclosure for this sale can be found here. Insiders sold 205,401 shares of company stock valued at $21,083,827 over the last quarter. Company insiders own 11.90% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Brand Asset Management Group Inc. purchased a new position in American Financial Group during the first quarter worth about $30,000. Quadrant Capital Group LLC boosted its stake in American Financial Group by 3,170.6% during the first quarter. Quadrant Capital Group LLC now owns 556 shares of the insurance provider’s stock worth $53,000 after buying an additional 539 shares during the period. Vigilant Capital Management LLC purchased a new position in American Financial Group during the second quarter worth about $59,000. Blue Sky Asset Management LLC purchased a new position in American Financial Group during the first quarter worth about $71,000. Finally, Altshuler Shaham Ltd purchased a new position in American Financial Group during the second quarter worth about $90,000. 63.05% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently commented on AFG shares. Buckingham Research upgraded shares of American Financial Group from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research report on Thursday, June 13th. Zacks Investment Research cut shares of American Financial Group from a “buy” rating to a “hold” rating and set a $112.00 target price for the company. in a research report on Wednesday, July 10th. Finally, ValuEngine upgraded shares of American Financial Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th.

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.

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Earnings History for American Financial Group (NYSE:AFG)

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