$1.33 Billion in Sales Expected for American Financial Group Inc (AFG) This Quarter

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Equities analysts predict that American Financial Group Inc (NYSE:AFG) will announce sales of $1.33 billion for the current quarter, Zacks reports. Two analysts have provided estimates for American Financial Group’s earnings, with the highest sales estimate coming in at $1.37 billion and the lowest estimate coming in at $1.30 billion. American Financial Group posted sales of $1.66 billion in the same quarter last year, which would indicate a negative year over year growth rate of 19.9%. The firm is scheduled to report its next quarterly earnings report on Wednesday, May 1st.

According to Zacks, analysts expect that American Financial Group will report full-year sales of $5.60 billion for the current year, with estimates ranging from $5.56 billion to $5.63 billion. For the next year, analysts anticipate that the firm will report sales of $5.91 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for American Financial Group.

American Financial Group (NYSE:AFG) last announced its quarterly earnings results on Wednesday, January 30th. The insurance provider reported $1.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.84 by ($0.09). The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. American Financial Group had a net margin of 9.98% and a return on equity of 15.39%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.20 earnings per share.

Several research firms have recently weighed in on AFG. Zacks Investment Research downgraded American Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. Keefe, Bruyette & Woods started coverage on American Financial Group in a report on Thursday, January 10th. They set a “market perform” rating and a $107.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $112.00.

American Financial Group stock traded up $0.52 during mid-day trading on Friday, hitting $95.39. The company had a trading volume of 25,694 shares, compared to its average volume of 351,762. The firm has a market capitalization of $8.15 billion, a P/E ratio of 14.57, a P/E/G ratio of 0.87 and a beta of 0.92. American Financial Group has a 1 year low of $84.18 and a 1 year high of $121.69. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.25.

The business also recently declared a quarterly dividend, which was paid on Friday, January 25th. Investors of record on Tuesday, January 15th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Monday, January 14th. American Financial Group’s dividend payout ratio is presently 24.43%.

In other American Financial Group news, CEO Carl H. Lindner III sold 28,668 shares of the stock in a transaction on Tuesday, December 18th. The stock was sold at an average price of $91.05, for a total value of $2,610,221.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory G. Joseph acquired 1,000 shares of the business’s stock in a transaction on Wednesday, December 12th. The stock was acquired at an average price of $92.91 per share, with a total value of $92,910.00. Following the transaction, the director now directly owns 35,594 shares of the company’s stock, valued at approximately $3,307,038.54. The disclosure for this purchase can be found here. 13.70% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in AFG. Standard Life Aberdeen plc raised its position in American Financial Group by 38,541.5% in the third quarter. Standard Life Aberdeen plc now owns 7,580,682 shares of the insurance provider’s stock worth $735,330,000 after acquiring an additional 7,561,064 shares in the last quarter. BlackRock Inc. raised its position in American Financial Group by 6.9% in the third quarter. BlackRock Inc. now owns 7,787,282 shares of the insurance provider’s stock worth $864,155,000 after acquiring an additional 500,746 shares in the last quarter. Wealthquest Corp purchased a new position in American Financial Group in the fourth quarter worth $35,611,000. USS Investment Management Ltd purchased a new position in American Financial Group in the fourth quarter worth $31,717,000. Finally, Wells Fargo & Company MN raised its position in American Financial Group by 81.2% in the third quarter. Wells Fargo & Company MN now owns 581,427 shares of the insurance provider’s stock worth $64,521,000 after acquiring an additional 260,539 shares in the last quarter. Hedge funds and other institutional investors own 62.91% of the company’s stock.

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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