American Financial Group: Attractive Special Dividend Despite Cat Losses In Q3
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American Financial Group (AFG) shares increased by 5% following a special dividend announcement, despite mixed Q3 results. The company reported a Q3 adjusted EPS of $2.31, missing estimates by $0.15, due to $90 million in catastrophe losses. However, premiums rose by 14%, and AFG's strong balance sheet supports a robust capital return strategy, including $6.50 in special dividends this year.
November 07, 2024 | 10:30 am
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American Financial Group's shares rose 5% due to a special dividend announcement, despite missing Q3 EPS estimates by $0.15. The company faced $90 million in catastrophe losses but saw a 14% rise in premiums. AFG's strong balance sheet supports a $6.50 special dividend this year.
The announcement of a $6.50 special dividend and a 5% rise in share price indicate positive investor sentiment, despite the Q3 EPS miss and catastrophe losses. The strong balance sheet and premium growth further support a positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100