Zacks: Brokerages Anticipate American Financial Group Inc (AFG) Will Announce Earnings of $1.39 Per Share

Wall Street analysts predict that American Financial Group Inc (NYSE:AFG) will post earnings of $1.39 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for American Financial Group’s earnings. The lowest EPS estimate is $1.37 and the highest is $1.42. American Financial Group posted earnings of $1.28 per share during the same quarter last year, which suggests a positive year over year growth rate of 8.6%. The business is expected to report its next quarterly earnings results on Tuesday, August 1st.

According to Zacks, analysts expect that American Financial Group will report full year earnings of $6.58 per share for the current financial year, with EPS estimates ranging from $6.55 to $6.65. For the next fiscal year, analysts anticipate that the company will report earnings of $6.63 per share, with EPS estimates ranging from $6.60 to $6.65. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for American Financial Group.

American Financial Group (NYSE:AFG) last released its quarterly earnings results on Wednesday, May 3rd. The insurance provider reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.32. American Financial Group had a net margin of 9.80% and a return on equity of 12.14%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm earned $1.25 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis.

A number of research analysts have issued reports on AFG shares. Zacks Investment Research upgraded shares of American Financial Group from a “hold” rating to a “buy” rating and set a $112.00 target price on the stock in a research report on Monday, May 8th. BidaskClub lowered shares of American Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $92.00.

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In related news, Director William W. Verity sold 1,773 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $99.26, for a total transaction of $175,987.98. Following the sale, the director now owns 5,135 shares in the company, valued at approximately $509,700.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Carl H. Lindner III sold 95,405 shares of the stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $98.68, for a total transaction of $9,414,565.40. The disclosure for this sale can be found here. Insiders have sold a total of 375,215 shares of company stock worth $37,465,772 in the last quarter. 13.70% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of American Financial Group by 10,325.5% in the first quarter. BlackRock Inc. now owns 5,915,732 shares of the insurance provider’s stock valued at $564,476,000 after buying an additional 5,858,989 shares during the last quarter. Norges Bank bought a new position in shares of American Financial Group during the fourth quarter valued at approximately $62,323,000. Vanguard Group Inc. increased its position in shares of American Financial Group by 7.1% in the first quarter. Vanguard Group Inc. now owns 6,517,519 shares of the insurance provider’s stock valued at $621,902,000 after buying an additional 431,262 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of American Financial Group by 114.4% in the first quarter. Wells Fargo & Company MN now owns 290,597 shares of the insurance provider’s stock valued at $27,728,000 after buying an additional 155,085 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of American Financial Group by 5.8% in the first quarter. Victory Capital Management Inc. now owns 2,098,038 shares of the insurance provider’s stock valued at $200,195,000 after buying an additional 114,826 shares during the last quarter. Institutional investors and hedge funds own 61.79% of the company’s stock.

American Financial Group (AFG) traded up 0.62% on Friday, hitting $99.00. 317,644 shares of the company were exchanged. American Financial Group has a 52 week low of $69.06 and a 52 week high of $103.19. The company has a 50 day moving average price of $98.88 and a 200-day moving average price of $93.38. The stock has a market capitalization of $8.68 billion, a P/E ratio of 12.52 and a beta of 0.80.

American Financial Group Company Profile

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

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