American Financial Group (NYSE:AFG) Trading Down 5.6% After Earnings Miss

American Financial Group, Inc. (NYSE:AFG)’s stock price traded down 5.6% on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $129.05 and last traded at $128.44. 45,098 shares were traded during trading, a decline of 84% from the average session volume of 285,336 shares. The stock had previously closed at $136.02.

The insurance provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.15 by ($0.03). American Financial Group had a return on equity of 19.97% and a net margin of 10.84%.

American Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Tuesday, January 14th were given a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, January 14th. This represents a $3.20 dividend on an annualized basis and a yield of 2.49%. American Financial Group’s payout ratio is currently 29.99%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of American Financial Group from $165.00 to $164.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. BMO Capital Markets lifted their target price on shares of American Financial Group from $135.00 to $143.00 and gave the stock a “market perform” rating in a research note on Friday, November 15th. Finally, Piper Sandler lifted their target price on shares of American Financial Group from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AFG. Raymond James Financial Inc. acquired a new stake in shares of American Financial Group in the 4th quarter worth approximately $2,875,000. Arizona State Retirement System lifted its position in shares of American Financial Group by 1.4% in the 4th quarter. Arizona State Retirement System now owns 20,714 shares of the insurance provider’s stock valued at $2,836,000 after acquiring an additional 290 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in shares of American Financial Group by 20.6% in the 4th quarter. Verdence Capital Advisors LLC now owns 2,533 shares of the insurance provider’s stock valued at $347,000 after acquiring an additional 433 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of American Financial Group in the 4th quarter valued at approximately $5,127,000. Finally, M&T Bank Corp lifted its position in shares of American Financial Group by 5.9% in the 4th quarter. M&T Bank Corp now owns 2,837 shares of the insurance provider’s stock valued at $389,000 after acquiring an additional 157 shares in the last quarter. Institutional investors own 64.37% of the company’s stock.

American Financial Group Trading Up 0.9 %

The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.31. The firm has a market cap of $10.80 billion, a PE ratio of 12.07 and a beta of 0.83. The company’s 50-day moving average is $137.23 and its 200 day moving average is $134.81.

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.