American Financial Group, Inc. (NYSE:AFG) Announces $0.71 Quarterly Dividend

American Financial Group, Inc. (NYSE:AFG) declared a quarterly dividend on Monday, July 1st, NASDAQ reports. Shareholders of record on Monday, July 15th will be given a dividend of 0.71 per share by the insurance provider on Thursday, July 25th. This represents a $2.84 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Monday, July 15th.

American Financial Group has raised its dividend by an average of 12.0% per year over the last three years and has increased its dividend every year for the last 18 years. American Financial Group has a payout ratio of 23.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect American Financial Group to earn $11.63 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 24.4%.

American Financial Group Stock Performance

Shares of AFG traded down $0.11 during mid-day trading on Monday, reaching $122.91. 290,167 shares of the company’s stock traded hands, compared to its average volume of 305,234. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.46 and a current ratio of 0.46. The business’s 50-day moving average price is $128.25 and its 200-day moving average price is $125.96. The stock has a market capitalization of $10.31 billion, a P/E ratio of 11.78 and a beta of 0.79. American Financial Group has a 12 month low of $105.22 and a 12 month high of $137.71.

American Financial Group (NYSE:AFG) last posted its earnings results on Thursday, May 2nd. The insurance provider reported $2.76 EPS for the quarter, beating the consensus estimate of $2.70 by $0.06. American Financial Group had a return on equity of 21.34% and a net margin of 11.03%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the firm earned $2.89 EPS. Equities analysts predict that American Financial Group will post 10.94 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AFG shares. Citigroup lowered shares of American Financial Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $144.00 to $137.00 in a research report on Friday. Piper Sandler upped their price target on shares of American Financial Group from $129.00 to $135.00 and gave the stock a “neutral” rating in a research note on Monday, May 6th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, American Financial Group currently has an average rating of “Hold” and an average price target of $131.75.

Insider Buying and Selling at American Financial Group

In related news, Director Amy Y. Murray acquired 1,200 shares of American Financial Group stock in a transaction dated Friday, June 28th. The stock was acquired at an average cost of $125.17 per share, with a total value of $150,204.00. Following the purchase, the director now directly owns 1,200 shares in the company, valued at approximately $150,204. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 14.50% of the stock is owned by corporate insiders.

About American Financial Group

American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. The company offers property and transportation insurance products, such as physical damage and liability coverage for buses and trucks, inland and ocean marine, agricultural-related products, and other commercial property and specialty transportation coverages; specialty casualty insurance, including primarily excess and surplus, executive and professional liability, general liability, umbrella and excess liability, and specialty coverage in targeted markets, as well as customized programs for small to mid-sized businesses and workers' compensation insurance; and specialty financial insurance products comprising risk management insurance programs for lending and leasing institutions, fidelity and surety products, and trade credit insurance.