American Financial Group (NYSE:AFG) Releases Earnings Results

Key Points

• American Financial Group reported $2.14 earnings per share for the quarter, slightly missing the consensus estimate of $2.15.
• The company declared a quarterly dividend of $0.80 per share, resulting in an annualized yield of 2.6% with a payout ratio of 33.61%.
• Institutional investors have a significant stake in American Financial Group, owning 64.37% of the company's stock, with notable investments from firms such as Jones Financial Companies and Royal Bank of Canada.

American Financial Group (NYSE:AFG - Get Free Report) released its earnings results on Tuesday. The insurance provider reported $2.14 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.06, Zacks reports. The business had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.77 billion. American Financial Group had a net margin of 9.66% and a return on equity of 18.34%. The company's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.56 earnings per share.

American Financial Group Price Performance

Shares of NYSE:AFG opened at $124.36 on Wednesday. The company's fifty day moving average price is $125.10 and its 200 day moving average price is $126.29. American Financial Group has a 12 month low of $114.73 and a 12 month high of $150.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $10.41 billion, a P/E ratio of 13.06 and a beta of 0.74.

American Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Tuesday, July 15th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, July 15th. American Financial Group's dividend payout ratio (DPR) is currently 33.61%.

Institutional Trading of American Financial Group

Several hedge funds and other institutional investors have recently made changes to their positions in AFG. Jones Financial Companies Lllp boosted its holdings in shares of American Financial Group by 145.8% in the first quarter. Jones Financial Companies Lllp now owns 1,278 shares of the insurance provider's stock valued at $168,000 after acquiring an additional 758 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of American Financial Group in the first quarter valued at about $2,330,000. Finally, Royal Bank of Canada boosted its holdings in shares of American Financial Group by 11.1% in the first quarter. Royal Bank of Canada now owns 75,421 shares of the insurance provider's stock valued at $9,905,000 after acquiring an additional 7,554 shares in the last quarter. Hedge funds and other institutional investors own 64.37% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of American Financial Group from $125.00 to $127.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Wall Street Zen lowered shares of American Financial Group from a "hold" rating to a "sell" rating in a report on Saturday, June 21st.

American Financial Group Company Profile

American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. The company offers property and transportation insurance products, such as physical damage and liability coverage for buses and trucks, inland and ocean marine, agricultural-related products, and other commercial property and specialty transportation coverages; specialty casualty insurance, including primarily excess and surplus, executive and professional liability, general 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 lending and leasing institutions, fidelity and surety products, and trade credit insurance.