American Financial Group, Inc. (NYSE:AFG) – Equities researchers at Langen Mcalenn decreased their Q3 2017 earnings per share estimates for shares of American Financial Group in a report released on Wednesday. Langen Mcalenn analyst L. Greenberg now forecasts that the insurance provider will post earnings of $1.00 per share for the quarter, down from their previous forecast of $1.53. Langen Mcalenn also issued estimates for American Financial Group’s Q3 2018 earnings at $1.83 EPS.
American Financial Group (NYSE:AFG) last posted its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.31. American Financial Group had a net margin of 11.89% and a return on equity of 11.66%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the company posted $1.28 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. ILLEGAL ACTIVITY WARNING: This news story was first posted by BBNS and is the property of of BBNS. If you are accessing this news story on another site, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The legal version of this news story can be read at https://baseballnewssource.com/markets/langen-mcalenn-comments-on-american-financial-group-inc-s-q3-2017-earnings-afg/1697367.html.
Other research analysts have also issued reports about the company. BidaskClub raised American Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Zacks Investment Research raised American Financial Group from a “hold” rating to a “buy” rating and set a $109.00 price target on the stock in a report on Thursday, September 7th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $100.67.
American Financial Group (AFG) opened at 105.66 on Friday. American Financial Group has a 1-year low of $73.38 and a 1-year high of $106.44. The stock’s 50 day moving average is $101.77 and its 200-day moving average is $99.63. The firm has a market capitalization of $9.30 billion, a PE ratio of 11.91 and a beta of 0.84.
A number of large investors have recently added to or reduced their stakes in AFG. Acrospire Investment Management LLC grew its holdings in American Financial Group by 153.6% during the second quarter. Acrospire Investment Management LLC now owns 1,321 shares of the insurance provider’s stock worth $131,000 after acquiring an additional 800 shares during the period. Quantbot Technologies LP acquired a new position in American Financial Group during the first quarter worth about $154,000. Bessemer Group Inc. acquired a new position in American Financial Group during the second quarter worth about $155,000. TLP Group LLC acquired a new position in American Financial Group during the second quarter worth about $194,000. Finally, ETRADE Capital Management LLC acquired a new position in American Financial Group during the second quarter worth about $216,000. 62.33% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO S Craig Lindner sold 25,000 shares of American Financial Group stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $104.27, for a total transaction of $2,606,750.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michelle A. Gillis sold 2,051 shares of American Financial Group stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $104.88, for a total value of $215,108.88. Following the transaction, the insider now directly owns 17,939 shares in the company, valued at $1,881,442.32. The disclosure for this sale can be found here. 14.90% of the stock is currently owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Friday, October 13th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.33%. This is a positive change from American Financial Group’s previous quarterly dividend of $0.31. The ex-dividend date is Thursday, October 12th. American Financial Group’s dividend payout ratio (DPR) is 14.06%.
About American Financial Group
American Financial Group, Inc (AFG) is a holding company engaged primarily in property and casualty insurance businesses. The Company, through Great American Insurance Group, focuses on commercial products for businesses, and is engaged in the sale of fixed and fixed-indexed annuities in the retail, financial institutions and education markets.
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