American Financial Group, Inc. (NYSE:AFG) Raises Dividend to $0.80 Per Share

American Financial Group, Inc. (NYSE:AFGGet Free Report) declared a quarterly dividend on Tuesday, October 1st, Zacks reports. Stockholders of record on Tuesday, October 15th will be given a dividend of 0.80 per share by the insurance provider on Friday, October 25th. This represents a $3.20 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Tuesday, October 15th. This is a positive change from American Financial Group’s previous quarterly dividend of $0.71.

American Financial Group has raised its dividend payment by an average of 12.0% per year over the last three years and has raised its dividend annually for the last 18 consecutive years. American Financial Group has a dividend payout ratio of 23.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect American Financial Group to earn $11.70 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 24.3%.

American Financial Group Stock Performance

Shares of American Financial Group stock opened at $134.78 on Thursday. American Financial Group has a 12 month low of $105.22 and a 12 month high of $137.95. The stock’s fifty day simple moving average is $131.54 and its 200 day simple moving average is $129.49. The company has a market capitalization of $11.31 billion, a PE ratio of 12.90 and a beta of 0.78. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.34.

American Financial Group (NYSE:AFGGet Free Report) last posted its earnings results on Tuesday, August 6th. The insurance provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.11. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.72 billion. American Financial Group had a return on equity of 21.16% and a net margin of 11.06%. American Financial Group’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.38 EPS. On average, research analysts predict that American Financial Group will post 10.96 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Citigroup downgraded 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, June 28th.

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American Financial Group Company Profile

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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.

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Dividend History for American Financial Group (NYSE:AFG)

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