American Financial Group Inc (NYSE:AFG) declared a special dividend on Monday, November 5th, RTT News reports. Investors of record on Friday, November 16th will be paid a dividend of 1.50 per share by the insurance provider on Monday, November 26th.
American Financial Group has increased its dividend by an average of 12.3% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. American Financial Group has a payout ratio of 18.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect American Financial Group to earn $8.70 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 18.4%.
NYSE:AFG traded up $1.70 during mid-day trading on Monday, hitting $101.99. 320,262 shares of the company’s stock traded hands, compared to its average volume of 322,497. American Financial Group has a twelve month low of $98.22 and a twelve month high of $121.69. The firm has a market capitalization of $8.93 billion, a P/E ratio of 15.61, a P/E/G ratio of 0.95 and a beta of 0.84. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.15 and a quick ratio of 0.15.
American Financial Group (NYSE:AFG) last announced its earnings results on Tuesday, October 30th. The insurance provider reported $2.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.31. American Financial Group had a return on equity of 15.37% and a net margin of 9.98%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the company posted $1.06 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts expect that American Financial Group will post 8.55 EPS for the current year.
In other American Financial Group news, CEO Carl H. Lindner III sold 119,448 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $111.58, for a total transaction of $13,328,007.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Carl H. Lindner III sold 18,785 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $111.93, for a total value of $2,102,605.05. The disclosure for this sale can be found here. Insiders have sold a total of 417,506 shares of company stock worth $46,961,077 over the last ninety days. 13.70% of the stock is currently owned by corporate insiders.
Several research analysts recently issued reports on the company. Zacks Investment Research lowered American Financial Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Raymond James lowered American Financial Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 12th. Finally, ValuEngine lowered American Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $120.33.
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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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