American Financial Group, Inc. (NYSE:AFG – Get Rating) – Zacks Research lowered their Q4 2022 earnings estimates for shares of American Financial Group in a report issued on Wednesday, November 16th. Zacks Research analyst T. De now anticipates that the insurance provider will earn $2.94 per share for the quarter, down from their prior forecast of $3.02. The consensus estimate for American Financial Group’s current full-year earnings is $11.60 per share. Zacks Research also issued estimates for American Financial Group’s Q3 2023 earnings at $2.57 EPS, Q4 2023 earnings at $3.41 EPS, FY2023 earnings at $11.70 EPS and Q3 2024 earnings at $2.15 EPS.
Other research analysts also recently issued reports about the stock. StockNews.com initiated coverage on shares of American Financial Group in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley cut their target price on shares of American Financial Group from $147.00 to $146.00 and set an “equal weight” rating on the stock in a research report on Friday, August 19th.
American Financial Group Stock Performance
American Financial Group (NYSE:AFG – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The insurance provider reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.04. American Financial Group had a net margin of 14.22% and a return on equity of 24.41%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the firm earned $2.71 EPS. The company’s revenue was up 15.6% on a year-over-year basis.
American Financial Group Increases Dividend
The company also recently declared a dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, November 15th will be given a $2.00 dividend. This is an increase from American Financial Group’s previous dividend of $1.00. The ex-dividend date of this dividend is Monday, November 14th. American Financial Group’s dividend payout ratio (DPR) is currently 21.97%.
Insider Activity at American Financial Group
In related news, insider John B. Berding sold 12,745 shares of the stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $146.24, for a total value of $1,863,828.80. Following the sale, the insider now directly owns 36,083 shares in the company, valued at approximately $5,276,777.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider John B. Berding sold 4,000 shares of the stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $148.87, for a total value of $595,480.00. Following the sale, the insider now directly owns 36,083 shares in the company, valued at approximately $5,371,676.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John B. Berding sold 12,745 shares of the stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $146.24, for a total transaction of $1,863,828.80. Following the completion of the sale, the insider now owns 36,083 shares in the company, valued at $5,276,777.92. The disclosure for this sale can be found here. 14.60% of the stock is currently owned by corporate insiders.
Institutional Trading of American Financial Group
Hedge funds have recently bought and sold shares of the stock. First Horizon Advisors Inc. raised its holdings in American Financial Group by 5,400.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 220 shares of the insurance provider’s stock worth $29,000 after buying an additional 216 shares during the period. McIlrath & Eck LLC bought a new position in shares of American Financial Group during the 2nd quarter worth approximately $42,000. Alaska Permanent Fund Corp bought a new position in shares of American Financial Group during the 3rd quarter worth approximately $45,000. Ronald Blue Trust Inc. raised its holdings in shares of American Financial Group by 166.9% in the third quarter. Ronald Blue Trust Inc. now owns 331 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 207 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in shares of American Financial Group in the third quarter worth $49,000. 69.11% of the stock is currently owned by institutional investors and hedge funds.
American Financial Group Company Profile
American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. It 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.
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