American Financial Group (NYSE:AFG) Shares Down 5.6% on Disappointing Earnings

Shares of American Financial Group, Inc. (NYSE:AFG) traded down 5.6% on Wednesday following a dissappointing earnings announcement. The stock traded as low as $129.05 and last traded at $128.44. 45,098 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 285,336 shares. The stock had previously closed at $136.02.

The insurance provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.15 by ($0.03). American Financial Group had a return on equity of 19.97% and a net margin of 10.84%.

American Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Tuesday, January 14th were paid a $0.80 dividend. The ex-dividend date was Tuesday, January 14th. This represents a $3.20 annualized dividend and a dividend yield of 2.51%. American Financial Group’s dividend payout ratio is presently 29.99%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Piper Sandler increased their price target on American Financial Group from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Keefe, Bruyette & Woods cut their target price on American Financial Group from $165.00 to $164.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Finally, BMO Capital Markets boosted their price target on shares of American Financial Group from $135.00 to $143.00 and gave the company a “market perform” rating in a research note on Friday, November 15th.

Institutional Trading of American Financial Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC grew its holdings in American Financial Group by 3.8% during the third quarter. FMR LLC now owns 5,516,351 shares of the insurance provider’s stock worth $742,501,000 after buying an additional 202,522 shares in the last quarter. State Street Corp grew its stake in shares of American Financial Group by 4.0% in the 3rd quarter. State Street Corp now owns 2,693,356 shares of the insurance provider’s stock worth $362,526,000 after acquiring an additional 104,172 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of American Financial Group by 10.2% in the third quarter. Geode Capital Management LLC now owns 1,553,207 shares of the insurance provider’s stock valued at $208,699,000 after purchasing an additional 143,820 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of American Financial Group by 26.2% during the fourth quarter. Bank of New York Mellon Corp now owns 997,340 shares of the insurance provider’s stock valued at $136,566,000 after purchasing an additional 207,285 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its holdings in American Financial Group by 0.6% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 607,677 shares of the insurance provider’s stock worth $83,209,000 after purchasing an additional 3,580 shares during the last quarter. 64.37% of the stock is owned by hedge funds and other institutional investors.

American Financial Group Stock Down 6.3 %

The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $10.69 billion, a P/E ratio of 11.94 and a beta of 0.83. The stock’s 50-day simple moving average is $137.23 and its 200-day simple moving average is $134.81.

American Financial Group Company Profile

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.