|Bid||0.00 x 900|
|Ask||68.11 x 800|
|Day's Range||67.46 - 70.86|
|52 Week Range||44.01 - 115.03|
|Beta (5Y Monthly)||0.80|
|PE Ratio (TTM)||26.54|
|Earnings Date||Oct 27, 2020 - Nov 02, 2020|
|Forward Dividend & Yield||1.80 (2.59%)|
|Ex-Dividend Date||Jul 14, 2020|
|1y Target Est||78.00|
American Financial (AFG) Q2 results reflect losses from alternative investments and COVID-19.
American Financial (AFG) delivered earnings and revenue surprises of -36.75% and 25.96%, respectively, for the quarter ended June 2020. Do the numbers hold clues to what lies ahead for the stock?
American Financial Group, Inc. (NYSE: AFG) today reported 2020 second quarter net earnings attributable to shareholders of $177 million ($1.97 per share), compared to $210 million ($2.31 per share) in the 2019 second quarter. Net earnings for the 2020 second quarter included net favorable after-tax non-core items aggregating $82 million ($0.92 per share). These items included $161 million ($1.80 per share) in non-core after-tax net realized gains on securities, partially offset by after-tax annuity non-core losses of $47 million ($0.52 per share loss), and $32 million ($0.36 per share loss) for costs associated with the runoff of Neon, our Lloyd’s-based insurer. By comparison, net earnings in the 2019 second quarter included $18 million ($0.19 per share) in net favorable after-tax non-core items. Other details may be found in the table on the following page. AFG’s book value per share was $69.10 at June 30, 2020. Annualized return on equity was 14.1% and 16.0% for the second quarters of 2020 and 2019, respectively.