Brokerages forecast that American Financial Group Inc (NYSE:AFG) will report $1.33 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have issued 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 $1.28 billion. American Financial Group reported sales of $1.66 billion in the same quarter last year, which would suggest a negative year over year growth rate of 19.9%. The business is expected to issue its next quarterly earnings report on Wednesday, May 1st.
According to Zacks, analysts expect that American Financial Group will report full-year sales of $5.50 billion for the current year, with estimates ranging from $5.37 billion to $5.63 billion. For the next financial year, analysts anticipate that the firm will post sales of $5.74 billion, with estimates ranging from $5.57 billion to $5.91 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for American Financial Group.
American Financial Group (NYSE:AFG) last posted its quarterly earnings results on Wednesday, January 30th. The insurance provider reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.09). The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. American Financial Group had a return on equity of 14.92% and a net margin of 7.41%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.20 earnings per share.
In other news, CEO Carl H. Lindner III sold 83,436 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $98.06, for a total transaction of $8,181,734.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lehman John I. Von sold 1,359 shares of the company’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $96.54, for a total transaction of $131,197.86. Following the transaction, the director now directly owns 9,327 shares of the company’s stock, valued at $900,428.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,989 shares of company stock valued at $16,427,175. Insiders own 13.70% of the company’s stock.
Several large investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its position in shares of American Financial Group by 0.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 21,095 shares of the insurance provider’s stock valued at $1,910,000 after buying an additional 120 shares during the period. State of Alaska Department of Revenue increased its position in shares of American Financial Group by 2.0% during the fourth quarter. State of Alaska Department of Revenue now owns 7,628 shares of the insurance provider’s stock valued at $690,000 after buying an additional 147 shares during the period. Advisor Group Inc. increased its position in shares of American Financial Group by 18.5% during the fourth quarter. Advisor Group Inc. now owns 1,046 shares of the insurance provider’s stock valued at $94,000 after buying an additional 163 shares during the period. Daiwa Securities Group Inc. increased its position in shares of American Financial Group by 6.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,854 shares of the insurance provider’s stock valued at $258,000 after buying an additional 180 shares during the period. Finally, First Hawaiian Bank increased its position in shares of American Financial Group by 6.9% during the first quarter. First Hawaiian Bank now owns 3,129 shares of the insurance provider’s stock valued at $301,000 after buying an additional 203 shares during the period. 64.44% of the stock is owned by hedge funds and other institutional investors.
American Financial Group stock opened at $96.23 on Thursday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $8.66 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 2.18 and a beta of 0.88. American Financial Group has a twelve month low of $84.18 and a twelve month high of $117.50.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, April 15th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Friday, April 12th. American Financial Group’s dividend payout ratio (DPR) is 19.05%.
About American Financial Group
American Financial Group, Inc, an insurance holding company, provides property and casualty insurance products in the United States. The company operates through three segments: Property and Casualty Insurance, Annuity, and Other. 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; specialty casualty insurance, including primarily excess and surplus, general liability, executive liability, professional 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 leasing and financing institutions, surety and fidelity products, and trade credit insurance.
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