Zacks: Brokerages Anticipate American Financial Group Inc (AFG) to Announce $1.89 Earnings Per Share

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Equities analysts expect American Financial Group Inc (NYSE:AFG) to announce $1.89 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for American Financial Group’s earnings, with the lowest EPS estimate coming in at $1.74 and the highest estimate coming in at $2.11. American Financial Group posted earnings per share of $1.06 in the same quarter last year, which would suggest a positive year over year growth rate of 78.3%. The business is scheduled to announce its next earnings results on Tuesday, October 30th.

On average, analysts expect that American Financial Group will report full-year earnings of $8.58 per share for the current financial year, with EPS estimates ranging from $8.50 to $8.69. For the next year, analysts anticipate that the company will report earnings of $8.63 per share, with EPS estimates ranging from $8.45 to $8.90. Zacks’ EPS calculations are a mean average based on a survey of research analysts that that provide coverage for American Financial Group.

American Financial Group (NYSE:AFG) last announced its quarterly earnings results on Wednesday, August 1st. The insurance provider reported $2.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.96 by $0.08. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.18 billion. American Financial Group had a return on equity of 13.27% and a net margin of 7.50%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.61 earnings per share.

Several equities analysts have recently weighed in on AFG shares. Zacks Investment Research upgraded American Financial Group from a “hold” rating to a “buy” rating and set a $118.00 price target for the company in a research report on Tuesday, July 3rd. Raymond James cut American Financial Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 12th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. American Financial Group presently has a consensus rating of “Buy” and a consensus price target of $116.00.

In related news, insider John B. Berding sold 17,721 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $112.45, for a total transaction of $1,992,726.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James E. Evans sold 3,132 shares of the business’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $112.43, for a total value of $352,130.76. Following the transaction, the director now owns 138,192 shares of the company’s stock, valued at $15,536,926.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 265,638 shares of company stock valued at $29,698,077. 13.70% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. BerganKDV Wealth Management LLC purchased a new position in American Financial Group during the second quarter worth about $110,000. Cerebellum GP LLC grew its position in American Financial Group by 62.3% during the second quarter. Cerebellum GP LLC now owns 1,660 shares of the insurance provider’s stock worth $178,000 after buying an additional 637 shares in the last quarter. Focused Wealth Management Inc grew its position in American Financial Group by 77.8% during the first quarter. Focused Wealth Management Inc now owns 1,600 shares of the insurance provider’s stock worth $180,000 after buying an additional 700 shares in the last quarter. KCM Investment Advisors LLC purchased a new position in American Financial Group during the second quarter worth about $212,000. Finally, Janney Montgomery Scott LLC purchased a new position in American Financial Group during the second quarter worth about $225,000. Institutional investors and hedge funds own 62.00% of the company’s stock.

Shares of NYSE AFG traded up $0.52 during mid-day trading on Friday, hitting $112.97. The company had a trading volume of 8,590 shares, compared to its average volume of 255,282. The stock has a market cap of $9.92 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 1.05 and a beta of 0.77. American Financial Group has a 1 year low of $95.19 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.

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.

See Also: Leveraged Buyout (LBO)

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Earnings History and Estimates for American Financial Group (NYSE:AFG)

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