American Financial Group Inc (NYSE:AFG) announced a special dividend on Monday, November 5th, RTT News reports. Investors of record on Friday, November 16th will be paid a dividend of 1.50 per share by the insurance provider on Monday, November 26th. The ex-dividend date of this dividend is Thursday, November 15th.
American Financial Group has increased its dividend payment by an average of 12.3% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. American Financial Group has a payout ratio of 18.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect American Financial Group to earn $8.62 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 18.6%.
Shares of AFG opened at $106.49 on Friday. The firm has a market capitalization of $9.42 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.00 and a beta of 0.84. American Financial Group has a 52-week low of $98.22 and a 52-week high of $121.69. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.26.
In other American Financial Group news, insider John B. Berding sold 17,721 shares of the stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $112.45, for a total value of $1,992,726.45. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Carl H. Lindner III sold 181,000 shares of the stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $113.49, for a total value of $20,541,690.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 318,169 shares of company stock worth $35,862,424. Insiders own 14.90% of the company’s stock.
A number of analysts have weighed in on the company. Zacks Investment Research upgraded American Financial Group from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Saturday, July 14th. ValuEngine lowered American Financial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $120.33.
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About American Financial Group
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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