American Financial Group, Inc. (NYSE:AFG – Get Free Report) announced a quarterly dividend on Wednesday, July 1st. Stockholders of record on Wednesday, July 15th will be paid a dividend of 0.88 per share by the insurance provider on Friday, July 24th. This represents a c) dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, July 15th.
American Financial Group has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 19 years. American Financial Group has a payout ratio of 29.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect American Financial Group to earn $11.97 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 29.4%.
American Financial Group Stock Up 0.6%
Shares of American Financial Group stock traded up $0.88 during trading on Wednesday, hitting $140.82. 423,382 shares of the stock were exchanged, compared to its average volume of 579,818. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.48 and a quick ratio of 0.48. The firm’s 50-day moving average price is $133.23 and its 200 day moving average price is $131.96. The stock has a market cap of $11.70 billion, a price-to-earnings ratio of 13.39 and a beta of 0.64. American Financial Group has a 12-month low of $122.11 and a 12-month high of $150.02.
Insider Buying and Selling at American Financial Group
In related news, insider David Lawrence Thompson, Jr. sold 11,370 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $135.05, for a total transaction of $1,535,518.50. Following the completion of the transaction, the insider directly owned 584,098 shares of the company’s stock, valued at $78,882,434.90. This represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Michelle A. Gillis sold 2,247 shares of American Financial Group stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $139.00, for a total value of $312,333.00. Following the completion of the sale, the senior vice president directly owned 13,135 shares in the company, valued at $1,825,765. This represents a 14.61% decrease in their position. The SEC filing for this sale provides additional information. 16.90% of the stock is currently owned by company insiders.
Institutional Trading of American Financial Group
Hedge funds have recently modified their holdings of the business. Royal Bank of Canada raised its position in American Financial Group by 11.1% in the first quarter. Royal Bank of Canada now owns 75,421 shares of the insurance provider’s stock worth $9,905,000 after acquiring an additional 7,554 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in American Financial Group during the first quarter worth about $2,330,000. Jones Financial Companies Lllp grew its position in American Financial Group by 145.8% during the first quarter. Jones Financial Companies Lllp now owns 1,278 shares of the insurance provider’s stock worth $168,000 after buying an additional 758 shares during the period. EverSource Wealth Advisors LLC increased its holdings in American Financial Group by 144.8% in the second quarter. EverSource Wealth Advisors LLC now owns 793 shares of the insurance provider’s stock valued at $100,000 after buying an additional 469 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in shares of American Financial Group by 62.4% during the 2nd quarter. Cerity Partners LLC now owns 2,941 shares of the insurance provider’s stock valued at $371,000 after acquiring an additional 1,130 shares during the period. 64.37% of the stock is owned by institutional investors and hedge funds.
About American Financial Group
American Financial Group, Inc (NYSE: AFG) is a diversified holding company primarily engaged in property and casualty insurance and reinsurance. Through its flagship subsidiary, Great American Insurance Company, the firm underwrites a broad range of specialty insurance products for commercial and industrial clients, including inland marine, excess and surplus lines, executive liability, and environmental liability coverage. In addition, American Financial Group offers supplemental accident and health insurance and assumes reinsurance risks from other insurers, helping to diversify its underwriting portfolio.
The company traces its roots to 1946, when it was founded by Carl Lindner, Sr.
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