American Financial Group (AFG) Declares $0.63 Dividend

American Financial Group said on April 3, 2023 that its board of directors declared a regular quarterly dividend of $0.63 per share ($2.52 annualized). Previously, the company paid $0.63 per share.

Shares must be purchased before the ex-div date of April 13, 2023 to qualify for the dividend. Shareholders of record as of April 14, 2023 will receive the payment on April 25, 2023.

At the current share price of $122.28 / share, the stock's dividend yield is 2.06%. Looking back five years and taking a sample every week, the average dividend yield has been 2.42%, the lowest has been 1.46%, and the highest has been 6.77%. The standard deviation of yields is 0.75 (n=237).

The current dividend yield is 0.48 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.24. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.40%, demonstrating that it has increased its dividend over time.

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Analyst Price Forecast Suggests 40.14% Upside

As of March 30, 2023, the average one-year price target for American Financial Group is $171.36. The forecasts range from a low of $156.55 to a high of $192.15. The average price target represents an increase of 40.14% from its latest reported closing price of $122.28.

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The projected annual revenue for American Financial Group is $6,725MM, a decrease of 1.25%. The projected annual non-GAAP EPS is $12.03.

What is the Fund Sentiment?

There are 1048 funds or institutions reporting positions in American Financial Group. This is an increase of 66 owner(s) or 6.72% in the last quarter. Average portfolio weight of all funds dedicated to AFG is 0.26%, a decrease of 10.63%. Total shares owned by institutions decreased in the last three months by 0.56% to 66,132K shares. The put/call ratio of AFG is 0.32, indicating a bullish outlook.

What are Large Shareholders Doing?

Victory Capital Management holds 2,859K shares representing 3.36% ownership of the company. In it's prior filing, the firm reported owning 2,997K shares, representing a decrease of 4.85%. The firm decreased its portfolio allocation in AFG by 37.01% over the last quarter.

American Financial Group Inc 401 Retirement & Savings Plan holds 2,795K shares representing 3.28% ownership of the company. In it's prior filing, the firm reported owning 2,823K shares, representing a decrease of 1.00%. The firm decreased its portfolio allocation in AFG by 99.90% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,196K shares representing 2.58% ownership of the company. In it's prior filing, the firm reported owning 2,155K shares, representing an increase of 1.88%. The firm increased its portfolio allocation in AFG by 5.10% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 2,147K shares representing 2.52% ownership of the company. In it's prior filing, the firm reported owning 2,041K shares, representing an increase of 4.97%. The firm increased its portfolio allocation in AFG by 2.57% over the last quarter.

NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 1,865K shares representing 2.19% ownership of the company. In it's prior filing, the firm reported owning 1,838K shares, representing an increase of 1.43%. The firm increased its portfolio allocation in AFG by 4.88% over the last quarter.

American Financial Group Background Information
(This description is provided by the company.)

American Financial Group is an insurance holding company, based in Cincinnati, Ohio. Through the operations of Great American Insurance Group, AFG is engaged primarily in property and casualty insurance, focusing on specialized commercial products for businesses, and in the sale of traditional fixed and fixed-indexed annuities in the retail, financial institutions, broker-dealer, and registered investment advisor markets. Great American Insurance Group's roots go back to 1872 with the founding of its flagship company, Great American Insurance Company.

This story originally appeared on Fintel.