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American Financial beats 3Q profit forecasts

CINCINNATI (AP) _ American Financial Group Inc. (AFG) on Tuesday reported third-quarter earnings of $11 million.

The Cincinnati-based company said it had profit of 13 cents per share. Earnings, adjusted for non-recurring costs, were $1.06 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.

The property and casualty insurer posted revenue of $1.84 billion in the period. Its adjusted revenue was $1.79 billion.

American Financial shares have increased 20 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $105.49, an increase of 42 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AFG at https://www.zacks.com/ap/AFG