Wall Street analysts expect American Financial Group Inc (NYSE:AFG) to report $1.38 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for American Financial Group’s earnings, with the lowest sales estimate coming in at $1.34 billion and the highest estimate coming in at $1.42 billion. American Financial Group posted sales of $1.79 billion in the same quarter last year, which would indicate a negative year over year growth rate of 22.9%. The company is scheduled to issue its next quarterly earnings report on Tuesday, October 30th.
According to Zacks, analysts expect that American Financial Group will report full-year sales of $5.22 billion for the current year, with estimates ranging from $5.18 billion to $5.25 billion. For the next fiscal year, analysts anticipate that the business will post sales of $5.58 billion per share, with estimates ranging from $5.51 billion to $5.64 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for American Financial Group.
American Financial Group (NYSE:AFG) last posted its earnings results on Wednesday, August 1st. The insurance provider reported $2.04 EPS for the quarter, beating the consensus estimate of $1.96 by $0.08. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.18 billion. American Financial Group had a return on equity of 13.27% and a net margin of 7.50%. American Financial Group’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.61 earnings per share.
Several research firms recently commented on AFG. Zacks Investment Research raised American Financial Group from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a report on Tuesday, July 3rd. Raymond James lowered American Financial Group from an “outperform” rating to a “market perform” rating in a report on Thursday, July 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $116.00.
NYSE:AFG traded down $0.34 during trading hours on Thursday, hitting $113.48. The company’s stock had a trading volume of 200,800 shares, compared to its average volume of 326,737. The firm has a market capitalization of $10.09 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 1.08 and a beta of 0.78. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.15 and a quick ratio of 0.15. American Financial Group has a 52-week low of $95.19 and a 52-week high of $121.69.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 25th. Investors of record on Friday, July 13th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Thursday, July 12th. American Financial Group’s dividend payout ratio (DPR) is presently 21.37%.
In other American Financial Group news, CEO Carl H. Lindner III sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $110.14, for a total transaction of $11,014,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO S Craig Lindner sold 26,000 shares of the firm’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $112.56, for a total value of $2,926,560.00. The disclosure for this sale can be found here. Insiders sold 366,502 shares of company stock worth $40,807,472 in the last three months. 13.70% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its holdings in shares of American Financial Group by 11.7% during the second quarter. BlackRock Inc. now owns 7,286,536 shares of the insurance provider’s stock worth $782,062,000 after purchasing an additional 763,692 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of American Financial Group by 14.3% during the first quarter. Victory Capital Management Inc. now owns 2,258,771 shares of the insurance provider’s stock worth $253,480,000 after purchasing an additional 282,869 shares during the last quarter. Investec Asset Management LTD grew its holdings in shares of American Financial Group by 3.8% during the second quarter. Investec Asset Management LTD now owns 1,243,452 shares of the insurance provider’s stock worth $133,460,000 after purchasing an additional 45,008 shares during the last quarter. Eaton Vance Management grew its holdings in shares of American Financial Group by 10.4% during the first quarter. Eaton Vance Management now owns 1,028,207 shares of the insurance provider’s stock worth $115,385,000 after purchasing an additional 97,131 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of American Financial Group by 8.9% during the first quarter. Prudential Financial Inc. now owns 879,894 shares of the insurance provider’s stock worth $98,742,000 after purchasing an additional 72,020 shares during the last quarter. 61.96% of the stock is currently owned by institutional investors.
American Financial Group Company Profile
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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