American Financial Group (NYSE:AFG) Posts Quarterly Earnings

American Financial Group (NYSE:AFG) announced its quarterly earnings results on Tuesday. The insurance company reported earnings per share (EPS) of $3.12 for the quarter, which fell short of the consensus estimate of $3.15 by $0.03, according to Zacks. The firm also revealed that it had a net margin of 10.84% and a return on equity of 19.97%.

American Financial Group's Stock Performance

On the same day of the earnings announcement, AFG stock traded down by $0.66, reaching a price of $136.04. During this trading session, the company saw a total of 447,947 shares exchanged, significantly higher than its average volume of 297,734 shares. The current 50-day moving average for AFG is $138.13, whereas its 200-day moving average stands at $134.75. With a market capitalization of $11.42 billion, the company maintains a price-to-earnings (P/E) ratio of 12.75 and a beta of 0.83. American Financial Group's stock has experienced a one-year low of $115.64 and a high of $150.19.

Dividend Announcement

Alongside the earnings report, American Financial Group declared a quarterly dividend of $0.80 per share, which was paid out on January 24. The shareholders who were on record as of January 14 received this dividend, with an ex-dividend date of January 14 as well. This payout translates to an annualized dividend of $3.20, yielding about 2.35%. Presently, the dividend payout ratio for American Financial Group is 29.99%.

Analyst Insights

Analysts have been evaluating American Financial Group with several recent reports. Piper Sandler increased their price target for the stock from $135.00 to $150.00, maintaining a "neutral" rating as of November 12. Keefe, Bruyette & Woods, in a report dated January 10, lowered their price target from $165.00 to $164.00, setting an "outperform" rating on the stock. Additionally, BMO Capital Markets raised their price target from $135.00 to $143.00 and assigned a "market perform" rating in a report on November 15.

Company Overview

American Financial Group Inc. is an insurance holding company that specializes in offering a range of property and casualty insurance products across the United States. Its offerings include property and transportation insurance products, such as liability coverage for commercial vehicles and marine insurance for commercial properties. They also provide specialty casualty insurance, which encompasses professional liability, excess liability, and workers' compensation for small to mid-sized businesses. Furthermore, American Financial Group deals with specialty financial insurance products, including risk management insurance programs and trade credit insurance.

Earnings, Insurance, Stocks