American Financial Group, Inc. (NYSE:AFG) announced a quarterly dividend on Tuesday, October 3rd, Wall Street Journal reports. Investors of record on Friday, October 13th will be given a dividend of 0.35 per share by the insurance provider on Wednesday, October 25th. This represents a $1.40 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Thursday, October 12th. This is a boost from American Financial Group’s previous quarterly dividend of $0.31.
American Financial Group has increased its dividend payment by an average of 12.7% annually over the last three years and has increased its dividend every year for the last 11 years. American Financial Group has a payout ratio of 21.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect American Financial Group to earn $6.75 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 20.7%.
Shares of American Financial Group (NYSE AFG) opened at 105.57 on Wednesday. The company’s 50-day moving average price is $101.98 and its 200 day moving average price is $99.88. American Financial Group has a 1-year low of $73.38 and a 1-year high of $106.44. The company has a market cap of $9.29 billion, a price-to-earnings ratio of 11.90 and a beta of 0.84.
American Financial Group (NYSE:AFG) last issued its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.31. American Financial Group had a return on equity of 11.66% and a net margin of 11.89%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the business posted $1.28 EPS. American Financial Group’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts predict that American Financial Group will post $6.19 earnings per share for the current fiscal year.
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Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of American Financial Group from a “buy” rating to a “sell” rating in a report on Tuesday, October 3rd. BidaskClub downgraded shares of American Financial Group from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Buckingham Research initiated coverage on shares of American Financial Group in a research report on Monday, September 11th. They issued a “neutral” rating and a $103.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $100.67.
In related news, CEO S Craig Lindner sold 25,000 shares of American Financial Group stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $104.27, for a total transaction of $2,606,750.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michelle A. Gillis sold 2,051 shares of American Financial Group stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $104.88, for a total transaction of $215,108.88. Following the transaction, the insider now directly owns 17,939 shares in the company, valued at $1,881,442.32. The disclosure for this sale can be found here. Company insiders own 13.70% of the company’s stock.
American Financial Group Company Profile
American Financial Group, Inc (AFG) is a holding company engaged primarily in property and casualty insurance businesses. The Company, through Great American Insurance Group, focuses on commercial products for businesses, and is engaged in the sale of fixed and fixed-indexed annuities in the retail, financial institutions and education markets.
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