American Financial Group, Inc. to Post Q3 2017 Earnings of $0.98 Per Share, Langen Mcalenn Forecasts (AFG)

American Financial Group, Inc. (NYSE:AFG) – Equities research analysts at Langen Mcalenn reduced their Q3 2017 earnings per share (EPS) estimates for shares of American Financial Group in a report issued on Monday. Langen Mcalenn analyst L. Greenberg now forecasts that the insurance provider will earn $0.98 per share for the quarter, down from their prior forecast of $1.00. Langen Mcalenn also issued estimates for American Financial Group’s FY2017 earnings at $6.15 EPS.

American Financial Group (NYSE:AFG) last posted its earnings results on Tuesday, August 1st. The insurance provider reported $1.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.31. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.12 billion. American Financial Group had a return on equity of 11.66% and a net margin of 11.89%. American Financial Group’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $1.28 EPS.

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A number of other brokerages also recently issued reports on AFG. Zacks Investment Research downgraded American Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. BidaskClub raised American Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $100.67.

American Financial Group (AFG) opened at 105.57 on Wednesday. American Financial Group has a 52-week low of $73.38 and a 52-week high of $106.44. The company’s 50 day moving average price is $101.98 and its 200 day moving average price is $99.88. The company has a market cap of $9.29 billion, a P/E ratio of 11.90 and a beta of 0.84.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Burney Co. lifted its stake in American Financial Group by 0.5% during the second quarter. Burney Co. now owns 5,174 shares of the insurance provider’s stock worth $515,000 after purchasing an additional 25 shares during the last quarter. Mackenzie Financial Corp lifted its stake in American Financial Group by 0.5% during the first quarter. Mackenzie Financial Corp now owns 6,452 shares of the insurance provider’s stock worth $616,000 after purchasing an additional 30 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in American Financial Group by 1.3% during the second quarter. Oppenheimer & Co. Inc. now owns 2,425 shares of the insurance provider’s stock worth $241,000 after purchasing an additional 30 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in American Financial Group by 0.7% during the second quarter. State of Alaska Department of Revenue now owns 6,190 shares of the insurance provider’s stock worth $615,000 after purchasing an additional 40 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in American Financial Group by 1.9% during the second quarter. Public Employees Retirement Association of Colorado now owns 2,210 shares of the insurance provider’s stock worth $220,000 after purchasing an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 62.32% of the company’s stock.

In related news, insider Michelle A. Gillis sold 2,051 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $104.88, for a total transaction of $215,108.88. Following the sale, the insider now owns 17,939 shares of the company’s stock, valued at $1,881,442.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO S Craig Lindner sold 25,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $104.27, for a total value of $2,606,750.00. The disclosure for this sale can be found here. Corporate insiders own 13.70% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Friday, October 13th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, October 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.33%. This is an increase from American Financial Group’s previous quarterly dividend of $0.31. American Financial Group’s dividend payout ratio is currently 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.

Earnings History and Estimates for American Financial Group (NYSE:AFG)

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