American Financial Group, Inc. (NYSE:AFG) Plans Quarterly Dividend of $0.71

American Financial Group, Inc. (NYSE:AFG) announced a quarterly dividend on Monday, April 1st, Zacks reports. Stockholders of record on Monday, April 15th will be given a dividend of 0.71 per share by the insurance provider on Thursday, April 25th. This represents a $2.84 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Friday, April 12th.

American Financial Group has raised its dividend by an average of 12.0% per year over the last three years and has raised its dividend annually for the last 18 consecutive years. American Financial Group has a dividend payout ratio of 23.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect American Financial Group to earn $11.53 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 24.6%.

American Financial Group Stock Performance

American Financial Group stock opened at $134.72 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.47 and a current ratio of 0.47. American Financial Group has a fifty-two week low of $105.22 and a fifty-two week high of $137.71. The stock has a fifty day moving average of $126.43 and a two-hundred day moving average of $118.32. The company has a market capitalization of $11.27 billion, a price-to-earnings ratio of 13.40 and a beta of 0.79.

American Financial Group (NYSE:AFG) last released its earnings results on Wednesday, February 7th. The insurance provider reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. American Financial Group had a net margin of 10.89% and a return on equity of 22.14%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the firm earned $2.99 EPS. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. On average, analysts anticipate that American Financial Group will post 11.02 EPS for the current fiscal year.

Insider Transactions at American Financial Group

In other news, VP Mark A. Weiss sold 2,500 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $127.06, for a total transaction of $317,650.00. Following the completion of the sale, the vice president now owns 7,553 shares in the company, valued at approximately $959,684.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director James E. Evans sold 2,274 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $128.64, for a total value of $292,527.36. Following the completion of the sale, the director now directly owns 105,302 shares in the company, valued at approximately $13,546,049.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Mark A. Weiss sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $127.06, for a total value of $317,650.00. Following the sale, the vice president now owns 7,553 shares in the company, valued at $959,684.18. The disclosure for this sale can be found here. Insiders have sold a total of 14,843 shares of company stock worth $1,854,746 in the last three months. 14.60% of the stock is currently owned by company insiders.

Institutional Trading of American Financial Group

Large investors have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of American Financial Group in the fourth quarter worth about $94,625,000. Johnson Investment Counsel Inc. increased its holdings in American Financial Group by 511.9% in the first quarter. Johnson Investment Counsel Inc. now owns 432,083 shares of the insurance provider’s stock valued at $52,498,000 after buying an additional 361,472 shares during the last quarter. Vanguard Group Inc. grew its position in shares of American Financial Group by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 7,544,354 shares of the insurance provider’s stock worth $1,098,609,000 after acquiring an additional 313,115 shares in the last quarter. Morgan Stanley increased its stake in American Financial Group by 70.4% during the fourth quarter. Morgan Stanley now owns 701,998 shares of the insurance provider’s stock valued at $96,370,000 after purchasing an additional 290,140 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of American Financial Group by 733.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 326,945 shares of the insurance provider’s stock valued at $4,459,000 after buying an additional 287,697 shares during the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Piper Sandler reiterated a “neutral” rating and issued a $129.00 price target on shares of American Financial Group in a report on Monday. Janney Montgomery Scott started coverage on shares of American Financial Group in a research report on Thursday, December 14th. They set a “buy” rating and a $135.00 price target for the company. Finally, Citigroup lifted their price target on shares of American Financial Group from $139.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 25th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $133.50.

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.