Brokerages Expect American Financial Group Inc (AFG) Will Post Quarterly Sales of $1.39 Billion

Brokerages expect American Financial Group Inc (NYSE:AFG) to post sales of $1.39 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for American Financial Group’s earnings. The highest sales estimate is $1.40 billion and the lowest is $1.37 billion. American Financial Group posted sales of $1.70 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 18.2%. The business is scheduled to issue its next quarterly earnings report on Wednesday, January 30th.

According to Zacks, analysts expect that American Financial Group will report full-year sales of $5.30 billion for the current financial year, with estimates ranging from $5.28 billion to $5.32 billion. For the next financial year, analysts expect that the company will report sales of $5.60 billion, with estimates ranging from $5.56 billion to $5.63 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for American Financial Group.

American Financial Group (NYSE:AFG) last posted its quarterly earnings data on Tuesday, October 30th. The insurance provider reported $2.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.88 by $0.31. American Financial Group had a net margin of 9.98% and a return on equity of 15.39%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the prior year, the business posted $1.06 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis.

Several research analysts have weighed in on the stock. Zacks Investment Research reaffirmed a “buy” rating and set a $115.00 target price on shares of American Financial Group in a research note on Monday, November 12th. ValuEngine cut shares of American Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $118.67.

Shares of AFG opened at $95.19 on Monday. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.25. American Financial Group has a 12-month low of $94.97 and a 12-month high of $121.69. The stock has a market capitalization of $8.50 billion, a P/E ratio of 14.53, a PEG ratio of 0.88 and a beta of 0.84.

The firm also recently declared a special dividend, which was paid on Monday, November 26th. Stockholders of record on Friday, November 16th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Thursday, November 15th. American Financial Group’s dividend payout ratio is presently 24.43%.

In other news, CEO Carl H. Lindner III sold 181,000 shares of the stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $113.49, for a total transaction of $20,541,690.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. 14.90% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of AFG. Janney Montgomery Scott LLC acquired a new stake in American Financial Group in the second quarter valued at approximately $225,000. Alps Advisors Inc. raised its holdings in American Financial Group by 146.0% in the second quarter. Alps Advisors Inc. now owns 4,693 shares of the insurance provider’s stock valued at $509,000 after acquiring an additional 2,785 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in American Financial Group by 6.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 238,023 shares of the insurance provider’s stock valued at $25,547,000 after acquiring an additional 14,804 shares in the last quarter. Wells Fargo & Company MN raised its holdings in American Financial Group by 135.1% in the second quarter. Wells Fargo & Company MN now owns 320,888 shares of the insurance provider’s stock valued at $34,442,000 after acquiring an additional 184,397 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in American Financial Group in the second quarter valued at approximately $376,000. 62.79% of the stock is currently owned by hedge funds and other institutional investors.

American Financial Group Company Profile

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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