Investors in American Financial Group, Inc. (AFG) need to pay close attention to the stock based on moves in the options market lately. That is because the Sep 20, 2024 $62.5 Call had some of the highest implied volatility of all equity options today. What is Implied Volatility? Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. ...

American Financial Group, Inc. (AFG) is set to gain from new business opportunities, increased exposures, a better renewal rate environment, improved combined ratio, stronger underwriting profit and effective capital deployment. These, along with solid growth projections, make the stock worth retaining. Earnings of this Zacks Rank #3 (Hold) insurer have grown 6.1% in the last five years. It has a VGM Score of A. This helps to identify stocks with the most attractive value, growth and momentum. Its shares ha ...

文章核心观点 - 公司在新业务机会、承保规模增加和良好的续保环境、承保利润改善以及有效的资本部署等因素的推动下,前景看好 [1] - 公司预计2024年和2025年的收益和收入将同比增长 [2][3] - 公司目前评级为持有,过去一年股价涨幅低于行业平均水平 [4] - 公司具有良好的成长性评分 [5] 业务动力 - 财产和意外险(P&C)业务将受益于财产与运输、专业责任和专业金融等领域的强劲表现 [6] - 新业务机会、承保规模增加、良好的续保环境以及作物风险服务收购带来的额外作物保费将推动整个P&C集团的保费增长 [6] - 公司整个P&C集团的平均续保价格上涨,并计划在未来保持满意的价格水平 [7] - 公司的综合成本率长期优于行业平均水平,承保利润有望提升 [8] 资本管理 - 公司连续18年增加股息,强劲的P&C业务盈利能力、出色的投资表现和有效的资本管理支持了良好的股东回报 [9] - 公司预计未来一年将继续产生大量剩余资本,为进一步的股票回购或特殊股息提供了充足的机会 [9] - 分析师对公司2025年收益预测有所上调,反映了对公司增长前景的信心 [10]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended March 31, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ____ to ____ Commission File No. 1-13653 AMERICAN FINANCIAL GROUP, INC. Incorporated under the Laws of Ohio IRS Employer I.D. No. 31-1544320 301 East Fourth Street, Cinc ...

财务数据和关键指标变化 - 公司报告2024年第一季度核心净营业收益为每股2.76美元,同比下降,主要是由于公司另类投资组合收益低于去年同期的强劲表现 [11] - 公司产险投资收益同比下降约1%,但剔除另类投资影响后,产险投资收益同比增长16%,主要由于利率上升和投资资产余额增加 [12] - 公司产险固定收益投资组合的平均收益率为6%,高于2024年第一季度的5%收益率 [13] - 公司产险固定收益投资组合的久期为2.9年,公司战略性管理久期以把握市场机会 [13] - 公司产险另类投资组合的年化收益率为9%,低于去年同期的14.2%,主要受多户家庭住房投资收益下降的影响 [14][15] 各条业务线数据和关键指标变化 - 公司产险综合成本率为90.1%,同比上升约1个百分点,主要由于赔付率上升 [18] - 公司产险毛保费和净保费同比均增长8%,主要得益于作物保险业务的增长、新业务机会、承保规模扩大和续保价格上涨 [19] - 公司产险业务(不含工伤险)平均续保价格上涨8%,较上季度加速约1个百分点,续保价格上涨已连续31个季度 [20] - 公司财产和运输险业务综合成本率为89%,同比改善2个百分点,主要由于商业车险和海洋保险业务的良好表现 [21][22][23] - 公司特种责任险业务综合成本率为89.8%,同比上升2.3个百分点,主要由于冬季风暴造成的赔付 [24][25][26] - 公司金融险业务综合成本率为86.3%,同比略有改善,主要得益于金融机构业务的强劲增长 [27] 各个市场数据和关键指标变化 - 公司作物保险业务开局良好,玉米和大豆种植进度超过过去5年平均水平,冬小麦业务表现也有所改善 [44] 公司战略和发展方向及行业竞争 - 公司在产险业务方面采取了提高保费、调整承保条件等措施,以应对社会通胀带来的影响 [25][26][42][43] - 公司在金融险业务方面持续保持领先地位,并通过收购和新业务拓展实现了强劲增长 [53][54][55] - 公司在多元化投资组合管理方面保持谨慎,密切关注市场变化,适时调整投资策略 [58][59][60][61] 管理层对经营环境和未来前景的评论 - 管理层对公司2024年第一季度的财务表现感到满意,认为公司的专业保险业务组合、企业文化和投资管理能力有助于持续优于同行 [9] - 管理层对公司作物保险业务的2024年前景持乐观态度,认为目前的种植进度和天气状况较去年有所改善 [44] - 管理层对公司多元化投资组合的长期前景保持乐观,但短期内可能受到利率上升等因素的影响 [14][15][58][59][60][61] 问答环节重要的提问和回答 问题1 **Charles Lederer 提问** 询问公司在Specialty Casualty和Specialty Financial业务中的准备金变动情况 [33] **Brian Hertzman 回答** 解释了Specialty Casualty业务中工伤险和管理责任险业务的准备金变动情况,以及Specialty Financial业务中创新市场业务的准备金变动情况 [34][35] 问题2 **Michael Zaremski 提问** 询问Specialty Casualty业务的增长放缓是否符合预期,以及公司对工伤险业务的看法 [40][41] **Carl Lindner 回答** 解释了Specialty Casualty业务中除工伤险外其他业务的增长情况,以及公司在工伤险、社会责任险等业务中采取的定价和承保策略 [42][43][48][49][50][51] 问题3 **Andrew Andersen 提问** 询问公司工伤险业务的赔付率和准备金变动情况 [64][65][66] **Carl Lindner 和 Brian Hertzman 回答** 解释了公司工伤险业务的赔付率和准备金变动情况,以及这些变动对综合成本率的影响 [65][66][67]

American Financial Group, Inc. (AFG) reported first-quarter 2024 net operating earnings per share of $2.76, which missed the Zacks Consensus Estimate by 0.3%. The bottom line decreased 4.5% year over year. American Financial’s results reflected a decline in investment income, lower underwriting profit, higher expenses and catastrophe losses, offset by improved net earned premiums. Behind the Headlines Total revenues of $1.8 billion increased 5.1% year over year in the quarter. The growth came on the back of ...

Exihibit 99.1 American Financial Group, Inc. Announces First Quarter Results • Net earnings per share of $2.89; includes $0.13 per share from after-tax non-core items • First quarter core net operating earnings per share of $2.76 • First quarter annualized ROE of 21.2%; core operating ROE of 20.2% • First quarter Specialty calendar year combined ratio 90.1%; 8% growth in net written premiums; renewal rate increases excluding workers’ compensation of 8% CINCINNATI – May 1, 2024 – American Financial Group, In ...

财务表现 - AFG 2024年第一季度营收达到18.8亿美元，同比增长5.1%[1] - AFG的每股收益为2.76美元，与去年同期的2.89美元相比略有下降[1] - AFG的P&C保险净赚保费为15.5亿美元，略低于五位分析师平均预期，同比增长7.6%[9] - AFG的净投资收入为1.98亿美元，略高于五位分析师平均预期，同比下降8.8%[10] 财务指标 - AFG的财产和意外伤害-核保费用比率为31.5%，与五位分析师平均预期一致[5] - AFG的财产和意外伤害-损失和赔款率为58.6%，略低于五位分析师平均预期[6] - AFG的专业责任-核保费用比率为27.3%，略低于四位分析师平均预期[8] - AFG的专业责任-损失和赔款率为40.2%，高于四位分析师平均预期[8] 市场表现 - AFG的股票在过去一个月中表现不佳，与Zacks S&P 500综合指数相比下跌5.6%[15] 其他收入 - AFG的其他收入为3900万美元，略高于两位分析师平均预期，同比增长21.9%[13]

The Zacks Property and Casualty Insurance industry continues to grapple with issues like higher catastrophe events, both natural and man-made, which drag down underwriting profit. Per Aon, estimated total economic losses were $380 billion, while insured losses were $118 million in 2023. Per AM Best, total net underwriting loss was $38 billion in 2023, a 10-year high, largely attributable to weather- related losses, high inflation as well as reinsurance pricing pressure. The combined ratio was 103.7 for the ...

It has been about a month since the last earnings report for American Financial Group (AFG) . Shares have added about 5.2% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is American Financial due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. American Financial Q4 Earni ...