Wall Street analysts expect that American Financial Group, Inc. (NYSE:AFG) will announce $1.29 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for American Financial Group’s earnings. The highest sales estimate is $1.33 billion and the lowest is $1.24 billion. American Financial Group reported sales of $1.64 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 21.3%. The firm is scheduled to report its next quarterly earnings report on Tuesday, November 7th.

On average, analysts expect that American Financial Group will report full-year sales of $1.29 billion for the current fiscal year, with estimates ranging from $4.76 billion to $4.88 billion. For the next financial year, analysts forecast that the business will post sales of $5.10 billion per share, with estimates ranging from $5.08 billion to $5.13 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow American Financial Group.

American Financial Group (NYSE:AFG) last posted its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.31. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.12 billion. American Financial Group had a net margin of 11.89% and a return on equity of 11.66%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.28 earnings per share.

Several research firms have recently weighed in on AFG. Zacks Investment Research cut American Financial Group from a “buy” rating to a “sell” rating in a research report on Tuesday, October 3rd. Buckingham Research began coverage on American Financial Group in a research report on Monday, September 11th. They issued a “neutral” rating and a $103.00 price objective for the company. Finally, BidaskClub cut American Financial Group from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $100.67.

COPYRIGHT VIOLATION WARNING: This story was first posted by Daily Political and is the property of of Daily Political. If you are reading this story on another site, it was illegally copied and reposted in violation of United States and international trademark & copyright legislation. The original version of this story can be accessed at https://www.dailypolitical.com/2017/10/08/american-financial-group-inc-afg-expected-to-post-quarterly-sales-of-1-29-billion.html.

American Financial Group (AFG) traded down 0.02% during mid-day trading on Thursday, reaching $105.66. 392,123 shares of the company traded hands. American Financial Group has a 52-week low of $73.38 and a 52-week high of $106.44. The company has a market capitalization of $9.30 billion, a P/E ratio of 11.91 and a beta of 0.84. The stock has a 50 day moving average price of $101.77 and a 200-day moving average price of $99.63.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Friday, October 13th will be given a $0.35 dividend. This is a boost from American Financial Group’s previous quarterly dividend of $0.31. This represents a $1.40 annualized dividend and a yield of 1.33%. The ex-dividend date is Thursday, October 12th. American Financial Group’s dividend payout ratio (DPR) is 14.06%.

In related news, CEO S Craig Lindner sold 25,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $104.27, for a total value of $2,606,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michelle A. Gillis sold 2,051 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $104.88, for a total value of $215,108.88. Following the completion of the transaction, the insider now directly owns 17,939 shares of the company’s stock, valued at $1,881,442.32. The disclosure for this sale can be found here. 14.90% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of the stock. Burney Co. lifted its position in American Financial Group by 0.5% in the second quarter. Burney Co. now owns 5,174 shares of the insurance provider’s stock worth $515,000 after purchasing an additional 25 shares during the period. Mackenzie Financial Corp lifted its position in American Financial Group by 0.5% in the first quarter. Mackenzie Financial Corp now owns 6,452 shares of the insurance provider’s stock worth $616,000 after purchasing an additional 30 shares during the period. Oppenheimer & Co. Inc. lifted its position in American Financial Group by 1.3% in the second quarter. Oppenheimer & Co. Inc. now owns 2,425 shares of the insurance provider’s stock worth $241,000 after purchasing an additional 30 shares during the period. State of Alaska Department of Revenue lifted its position in American Financial Group by 0.7% in the second quarter. State of Alaska Department of Revenue now owns 6,190 shares of the insurance provider’s stock worth $615,000 after purchasing an additional 40 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its position in American Financial Group by 1.9% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,210 shares of the insurance provider’s stock worth $220,000 after purchasing an additional 42 shares during the period. 62.33% of the stock is owned by hedge funds and other institutional investors.

About American Financial Group

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.

Get a free copy of the Zacks research report on American Financial Group (AFG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for American Financial Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Financial Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.