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American Financial Group Inc (AFG) stock

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NYSE: AFG NYSE Property & Casualty Insurance Next results ~November 3, 2026

C+ Fundamentals grade

American Financial Group Inc is a US-listed company in the property & casualty insurance industry. Its financial year ends in December.

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 6 selling0 purchases and 9 sales by directors and officers, last 12 monthsInsider trades
  • Funds268 adding, 205 cuttingOf 58 active managers that changed their stake, 32 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter American Financial Group files

Where American Financial stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $8.28bn, down 0.2% on a year earlier, faster than -1.2% a quarter earlier. That puts it 7 of 8 for growth among the fire, marine & casualty insurance companies we cover.

Our model value for American Financial Group is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

American Financial Group Inc's trailing-twelve-month revenue fell 0.2% year on year, with a free-cash-flow margin of 17.8%. Where it lags: revenue growth of -0.2% ranks 40 of 48 property & casualty insurance companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 6.6% while net income grew 24.7%: a 31pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in American Financial Group Inc's latest figures clears our strength thresholds.

Things to watch

  • Results due soon. Results are expected around 4 November; the share price can move sharply on the day.
  • Revenue shrinking. Revenue fell 0.2% over the last 12 months.
  • Insiders selling. 6 insiders sold $16M of stock over the past 365 days and none bought (0% under pre-set trading plans).
  • Earnings expected to fall. The consensus expects earnings per share to fall 4% next year.

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$2.82 against an average estimate of $2.37: beat by 18.9%
Revenue
$2.03bn, up 5.5% on a year earlier
Share reaction
+4.4% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Guidance given
pretax core operating gain $125m (the third quarter of 2026)
Next report
November 3, 2026; average EPS estimate $3.82

American Financial Group's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.8%
  • 1 week+3.0%
  • 1 month+12.3%
  • This year+17.9%
  • 1 year+24.2%
  • 5 years+55.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$8.3B
Operating margin
14.5%
Net margin
11.5%
EPS (TTM, diluted)
$11.45

Growth

Revenue growth
−0.2%
Change in growth rate
+1.0 pts
Share count change
−0.7%

Earnings

Last results
August 5, 2026
Next results (est.)
November 4, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Insider trade
  2. Insider trade
  3. Results
  4. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

American Financial Group Inc valuation models and calculator

No model value for American Financial Group Inc at the moment. Current status: valuation models disagree too widely to rate. Available reported financials are shown below.

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valuation models disagree too widely to rate: held for review.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value American Financial Group Inc as an insurer, with every model that fits that kind of business. Cost of equity 7.8%: the 10-year Treasury yield (4.9%) plus a beta of 0.63 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$130 ~$100–$160 Primary model, counts double
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$150 ~$130–$170 Included
Price-to-book vs return on equity (peers) The price-to-book that peers with this return on equity trade on, from a line fitted across peers. ~$130 ~$91–$170 Included
Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. ~$75 ~$62–$130 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$120 ~$110–$150 Included
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. ~$160 ~$140–$210 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare American Financial Group Inc with property, casualty and specialty insurers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

64 /100

Moderate moat

How hard American Financial Group's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Net income has been a median 2.7% of total assets over 10 years.

  • Durability 4 / 20

    Operating margin has been a median 13.9%; its worst year was -1.2%.

  • Discipline 18 / 20

    The diluted share count fell 4.3% over five years; stock-based pay has been a median 0.3% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (70 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, after the close. Analysts expect revenue of $2.1bn and EPS of $3.82 (range $3.65 to $4.05) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $12.58 +22% $7.2bn +3%
Next $12.11 −4% $7.7bn +6%

Next year's EPS estimate has moved +0.4% in 90 days, across 7 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +8.5% on 90 days ago. In the last 30 days, 1 analyst raised American Financial Group Inc's forecast and 1 cut it.

Consensus EPS forecast American Financial Group Inc, last 90 days
$11.50 $12.00 $12.50 $13.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $11.60 Current fiscal year, 60 days ago: $12.20 Current fiscal year, 30 days ago: $12.39 Current fiscal year, 7 days ago: $12.58 Current fiscal year, Now: $12.58 $12.58 Next fiscal year, 90 days ago: $12.06 Next fiscal year, 60 days ago: $12.14 Next fiscal year, 30 days ago: $12.14 Next fiscal year, 7 days ago: $12.11 Next fiscal year, Now: $12.11 $12.11

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $11.60$12.06
60 days ago $12.20$12.14
30 days ago $12.39$12.14
7 days ago $12.58$12.11
Now $12.58$12.11

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $2.37 $2.82 +18.9%
Mar 2026 $2.56 $2.47 −3.4%
Dec 2025 $3.31 $3.65 +10.1%
Sept 2025 $2.51 $2.69 +7.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 5, 2026
  • pretax core operating gain the third quarter of 2026 about $125m Non-GAAP
    “AFG currently expects to recognize a pretax core operating gain of approximately $125 million on the sale.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

7 analysts, Oct 2026
Buy229%
Hold571%
Sell00%

Monthly trend

  1. Oct 2026257
  2. Sep 2026257
  3. Aug 2026257

Counts of recommendations published by analysts covering American Financial Group Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
2.9%
of tradable shares
Days to cover
4.5
at average volume
Short interest, 1 month
+14%
to October 15, 2026
Held by institutions
69%
of shares
Held by insiders
20.3%
of shares
Employees
8,500
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +24.2%

$124.98 on October 31, 2025 to $155.17

ThenNowEffect
Revenue (last 12 months) $8.3bn $8.3bn −0.2%
Net margin 9.2% 11.5% +25.0%
P/E multiple 13.7x 13.6x −1.1%
Share count 84m 83m +0.7%

Biggest factor: net margin.

Last 3 years +68.9%

$91.85 on November 3, 2023 to $155.17

ThenNowEffect
Revenue (last 12 months) $7.5bn $8.3bn +10.5%
Net margin 11.4% 11.5% +1.1%
P/E multiple 9.2x 13.6x +47.5%
Share count 85m 83m +2.5%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
AFG+94%+11%−8%+24%+5%+18%
Industry peers (median)+14%−3%+9%+31%+9%+10%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
AFG92%33%50%67%50%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
AFG−13%−16%−22%−12%−14%−8%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 59% from February 11, 2020 to March 18, 2020. Getting back needed a 144% gain, reached on February 22, 2021, 341 days after the low.

Price behaviour

52-week range
$121.76 – $155.17
From 52-week high
0.0%
vs 50-day average
+8.3%
vs 200-day average
+15.1%
Volatility (1 year)
18%
Beta vs S&P 500
-0.21

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±3.2%
After a week
8 up, 4 down
typical move ±4.9%
After a month
8 up, 4 down
typical move ±5.7%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 +4.4% −0.4% +3.0% +2.7%
April 30, 2026 +1.7% +1.3% +1.8% −0.9%
February 4, 2026 −0.4% −1.7% −1.1% +1.6%
November 5, 2025 +7.5% −0.7% +8.0% +2.2%
August 6, 2025 +2.9% +0.7% +7.6% +11.5%
May 7, 2025 −5.5% +1.1% −6.1% −3.7%
February 5, 2025 −5.4% +0.8% −8.1% −6.5%
November 6, 2024 +5.3% +3.3% +12.8% +15.4%
August 7, 2024 +2.3% +1.6% +2.7% +7.8%
May 2, 2024 −1.0% +2.2% +1.9% 0.0%
February 7, 2024 +0.8% +0.9% +2.7% +9.7%
November 2, 2023 −1.1% +2.8% −2.6% +6.5%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Revenue (TTM) American Financial Group Inc
$7.6B $7.8B $8B $8.2B $8.4B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $7.7B Revenue (TTM), FY23 Q4: $7.8B Revenue (TTM), FY24 Q1: $8B Revenue (TTM), FY24 Q2: $8.1B Revenue (TTM), FY24 Q3: $8.3B Revenue (TTM), FY24 Q4: $8.3B Revenue (TTM), FY25 Q1: $8.3B Revenue (TTM), FY25 Q2: $8.3B Revenue (TTM), FY25 Q3: $8.3B Revenue (TTM), FY25 Q4: $8.2B Revenue (TTM), FY26 Q1: $8.2B Revenue (TTM), FY26 Q2: $8.3B $8.3B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $7.7B
FY23 Q4 $7.8B
FY24 Q1 $8B
FY24 Q2 $8.1B
FY24 Q3 $8.3B
FY24 Q4 $8.3B
FY25 Q1 $8.3B
FY25 Q2 $8.3B
FY25 Q3 $8.3B
FY25 Q4 $8.2B
FY26 Q1 $8.2B
FY26 Q2 $8.3B
Revenue growth, TTM YoY American Financial Group Inc
-5% 0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 11.7% Revenue growth, TTM YoY, FY23 Q4: 11.2% Revenue growth, TTM YoY, FY24 Q1: 11.1% Revenue growth, TTM YoY, FY24 Q2: 7.5% Revenue growth, TTM YoY, FY24 Q3: 7.6% Revenue growth, TTM YoY, FY24 Q4: 6.3% Revenue growth, TTM YoY, FY25 Q1: 3.5% Revenue growth, TTM YoY, FY25 Q2: 3.0% Revenue growth, TTM YoY, FY25 Q3: 0.0% Revenue growth, TTM YoY, FY25 Q4: -1.8% Revenue growth, TTM YoY, FY26 Q1: -1.2% Revenue growth, TTM YoY, FY26 Q2: -0.2% -0.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 11.7%
FY23 Q4 11.2%
FY24 Q1 11.1%
FY24 Q2 7.5%
FY24 Q3 7.6%
FY24 Q4 6.3%
FY25 Q1 3.5%
FY25 Q2 3.0%
FY25 Q3 0.0%
FY25 Q4 -1.8%
FY26 Q1 -1.2%
FY26 Q2 -0.2%
Operating margin (TTM) American Financial Group Inc
11% 12% 13% 14% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 14.1% Operating margin (TTM), FY23 Q4: 13.7% Operating margin (TTM), FY24 Q1: 13.9% Operating margin (TTM), FY24 Q2: 14.0% Operating margin (TTM), FY24 Q3: 13.8% Operating margin (TTM), FY24 Q4: 13.5% Operating margin (TTM), FY25 Q1: 12.3% Operating margin (TTM), FY25 Q2: 11.7% Operating margin (TTM), FY25 Q3: 12.3% Operating margin (TTM), FY25 Q4: 13.1% Operating margin (TTM), FY26 Q1: 13.6% Operating margin (TTM), FY26 Q2: 14.5% 14.5%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 14.1%
FY23 Q4 13.7%
FY24 Q1 13.9%
FY24 Q2 14.0%
FY24 Q3 13.8%
FY24 Q4 13.5%
FY25 Q1 12.3%
FY25 Q2 11.7%
FY25 Q3 12.3%
FY25 Q4 13.1%
FY26 Q1 13.6%
FY26 Q2 14.5%
FCF margin (TTM) American Financial Group Inc
10% 15% 20% 25% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 16.2% FCF margin (TTM), FY23 Q4: 24.2% FCF margin (TTM), FY24 Q1: 20.0% FCF margin (TTM), FY24 Q2: 17.3% FCF margin (TTM), FY24 Q3: 14.0% FCF margin (TTM), FY24 Q4: 12.9% FCF margin (TTM), FY25 Q1: 15.8% FCF margin (TTM), FY25 Q2: 19.0% FCF margin (TTM), FY25 Q3: 16.2% FCF margin (TTM), FY25 Q4: 17.7% FCF margin (TTM), FY26 Q1: 19.3% FCF margin (TTM), FY26 Q2: 17.8% 17.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 16.2%
FY23 Q4 24.2%
FY24 Q1 20.0%
FY24 Q2 17.3%
FY24 Q3 14.0%
FY24 Q4 12.9%
FY25 Q1 15.8%
FY25 Q2 19.0%
FY25 Q3 16.2%
FY25 Q4 17.7%
FY26 Q1 19.3%
FY26 Q2 17.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 4,320 4,497 4,643 4,957 5,103 5,733 6,145 6,498 6,865 7,150 6,213 5,769 6,552 7,040 7,827 8,324 8,174 8,278
EBITDA 1,010 896 738 794 831 770 699 921 831 849 893 638 1,522 1,223 1,151 1,205 1,159 1,293
Operating income 812 694 558 537 689 626 565 787 724 639 634 339 1,335 1,123 1,073 1,124 1,073 1,202
Net income 519 482 342 488 471 452 352 649 475 530 897 732 1,995 898 852 887 842 953
Diluted EPS $4.45 $4.36 $3.32 $5.09 $5.16 $4.97 $3.94 $7.33 $5.28 $5.85 $9.85 $8.20 $23.30 $10.53 $10.05 $10.57 $10.08 $11.45
Growth (year on year)
Revenue +0.6% +4.1% +3.2% +6.8% +2.9% +12.3% +7.2% +5.7% +5.6% +4.2% −13.1% −7.1% +13.6% +7.4% +11.2% +6.3% −1.8% −0.2%
EBITDA +88.1% −11.3% −17.6% +7.6% +4.7% −7.3% −9.2% +31.8% −9.8% +2.2% +5.2% −28.6% +138.6% −19.6% −5.9% +4.7% −3.8% +21.9%
Operating income +157.0% −14.5% −19.6% −3.8% +28.3% −9.1% −9.7% +39.3% −8.0% −11.7% −0.8% −46.5% +293.8% −15.9% −4.5% +4.8% −4.5% +23.3%
Net income +164.8% −7.1% −29.0% +42.7% −3.5% −4.0% −22.1% +84.4% −26.8% +11.6% +69.2% −18.4% +172.5% −55.0% −5.1% +4.1% −5.1% +24.7%
Diluted EPS +166.5% −2.0% −23.9% +53.3% +1.4% −3.7% −20.7% +86.0% −28.0% +10.8% +68.4% −16.8% +184.1% −54.8% −4.6% +5.2% −4.6% +25.6%
Margins
EBITDA margin 23.4% 19.9% 15.9% 16.0% 16.3% 13.4% 11.4% 14.2% 12.1% 11.9% 14.4% 11.1% 23.2% 17.4% 14.7% 14.5% 14.2% 15.6%
Operating margin 18.8% 15.4% 12.0% 10.8% 13.5% 10.9% 9.2% 12.1% 10.5% 8.9% 10.2% 5.9% 20.4% 16.0% 13.7% 13.5% 13.1% 14.5%
Net margin 12.0% 10.7% 7.4% 9.8% 9.2% 7.9% 5.7% 10.0% 6.9% 7.4% 14.4% 12.7% 30.4% 12.8% 10.9% 10.7% 10.3% 11.5%
Cash flow
Cash from operations 915 864 667 817 760 1,231 1,353 1,150 1,804 2,083 2,456 2,183 1,714 1,153 1,970 1,152 1,533 1,566
Stock-based pay 13 20 22 26 36 25 27 28 30 23 23 20 16 19 18 18 18 —
Balance sheet
Cash 1,120 1,099 1,324 1,705 1,639 1,343 1,220 2,107 2,338 1,515 2,314 1,665 2,131 872 1,225 1,406 1,727 1,438
Total debt 828 952 934 953 913 1,061 1,020 1,308 1,318 1,318 1,493 1,993 1,993 1,521 1,498 1,498 1,848 1,848
Net debt (negative = net cash) −292 −147 −390 −752 −726 −282 −200 −799 −1,020 −197 −821 328 −138 649 273 92 121 410
Diluted shares 117m 111m 103m 96m 91m 91m 89m 89m 90m 91m 91m 89m 86m 85m 85m 84m 84m 83m
Returned to shareholders
Dividends 60 63 67 90 160 167 176 185 417 394 444 334 2,374 1,213 684 788 606 576
Buybacks 81 292 315 415 70 191 126 133 0 6 0 313 319 11 213 0 99 88
Total returned 141 355 382 505 230 358 302 318 417 400 444 647 2,693 1,224 897 788 705 664

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$88M
Dividends (TTM)
$576M
Returned to shareholders
45%
of free cash flow
Buybacks, last 3 fiscal years
$312M
Diluted share count
−0.7%
year over year
Total shareholder yield
5.2%
dividends 4.5% + buybacks 0.7% of market value
Dividend payout ratio
60%
of net income paid out
Sales & admin spending
25.5%
of revenue

Competitors: side by side with peers

Closest by revenue in property & casualty insurance
Last 12 months unless stated AFG FAF ORI AXS THG MCY Median
Revenue, last 12 months $8.3bn $8.1bn $9.8bn $6.9bn $6.8bn $6.3bn $1.7bn
Revenue growth, last 12 months −0.2% 14.1% 12.5% 9.8% 5.0% 10.0% 8.0%
Revenue growth, 3-year average 3.4% 8.9% 8.7% 7.3% 4.8% 14.3% 9.5%
Revenue growth, latest quarter 5.5% 5.3% 5.2% 6.9% 4.2% 13.8% 4.2%
Operating margin 14.5% — — — 15.2% — 9.4%
Operating margin, 3-year average 13.4% — — — 12.6% — 1.8%
Net margin 11.5% 9.1% 11.2% 14.6% 11.0% 14.8% 10.5%
Cash from operations / revenue 18.9% 12.0% 11.6% 38.4% 18.0% 20.9% 18.2%
Free-cash-flow margin 17.8% 10.0% — — 17.8% 19.9% 17.6%
Free-cash-flow margin, 3-year average 18.1% 8.4% — — 14.7% 16.5% 16.5%
Stock pay / revenue 0.3% 0.7% — 0.8% 0.6% 0.0% 0.6%
Change in share count −0.7% −0.7% −1.1% −7.8% −1.7% 0.0% −0.7%

Median of all 48 companies we cover in property & casualty insurance. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

48 property & casualty insurance companies
Measure Company Peer median Rank
Revenue growth Growth -0.2% 8.3% 40 of 48
Change in growth rate Growth +1.0pp -0.7pp 13 of 48
Operating margin Profitability 14.5% 8.0% 3 of 9
Net margin Profitability 11.5% 10.8% 21 of 48
Change in share count Balance sheet -0.7% -0.7% 24 of 47

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$8.1B
Institutions reporting
512
Shares held vs prior quarter
▲ 1.9%
Positions opened / closed
77 / 60

Top buyers and sellers, Q2 2026: 268 institutions bought and 205 sold ; the biggest buyer was Blackrock, Inc (+878K shares) and the biggest seller FMR LLC (−907K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.1B 7.7M 13.3% ▲ 12.8%
FMR LLC $765M 5.5M 9.4% ▼ 14.2%
Vanguard Portfolio Management LLC $501M 3.6M 6.2% ▼ 8.5%
State Street Corp $431M 3.1M 5.3% ▲ 2.3%
Vanguard Capital Management LLC $424M 3.0M 5.2% ▼ 7.9%
Charles Schwab Investment Management Inc $324M 2.3M 4.0% ▲ 10.2%
American Financial Group Inc 401(K) Retirement & Savings Plan $314M 2.2M 3.9% ▼ 5.1%
Geode Capital Management, LLC $243M 1.7M 3.0% ▲ 3.9%
Victory Capital Management Inc $227M 1.6M 2.8% ▼ 20.6%
Dimensional Fund Advisors LP $226M 1.6M 2.8% ▲ 7.0%
AQR Capital Management LLC $200M 1.4M 2.5% ▲ 112.0%
Goldman Sachs Group Inc $160M 1.1M 2.0% ▲ 11.2%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not American Financial Group Inc's complete shareholder register. Values are as reported by the filers ; 6 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $16M 9 trades by 6 insiders · 0% under pre-set plans
Net ▼ $16M net selling
Insider Date Trade Shares Price Value
Von Lehman John I Director September 14, 2026 Sell 1,279 $143.84 $183,971
Hertzman Brian S. SVP, CFO September 2, 2026 Sell 950 $142.87 $135,726
Lindner Carl H Iii Co-CEO August 26, 2026 Sell 81,373 $144.28 $11.7M
Lindner Carl H Iii Co-CEO August 24, 2026 Sell 8,627 $144.66 $1.2M
Weiss Mark A Sr. VP & General Counsel August 6, 2026 Sell 2,813 $144.76 $407,210
Gillis Michelle A Senior Vice President June 24, 2026 Sell 2,247 $139.00 $312,333
Thompson David Lawrence Jr President of Subsidiary June 23, 2026 Sell 11,370 $135.05 $1.5M
Hertzman Brian S. SVP, CFO February 27, 2026 Sell 1,663 $133.70 $222,343
Hertzman Brian S. SVP, CFO November 7, 2025 Sell 1,777 $142.51 $253,240

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 4 trades and filings

No trades in American Financial Group Inc disclosed in the last 12 months; 4 earlier trades on record.

  • Julia Letlow(R-LA 5):Sale (full), $1,001 - $15,000, traded February 24, 2025, filed January 13, 2026
  • Julia Letlow(R-LA 5):Purchase, $1,001 - $15,000, traded November 19, 2024, filed January 13, 2026
  • Luis V. Gutierrez(IL):Sale (full), $15,001 - $50,000, traded May 18, 2015, filed August 15, 2016

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 4, 2026 estimated from the company's past filing pattern, not announced

  • August 5, 2026
  • April 30, 2026
  • February 4, 2026
  • November 5, 2025
  • August 6, 2025
  • May 7, 2025

Recent SEC filings

Data status

When each part of this page on American Financial Group Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

American Financial Group Inc in brief

What does American Financial Group Inc do?
American Financial Group Inc is a US-listed company in the property & casualty insurance industry. Its financial year ends in December.
What is American Financial Group Inc's stock ticker?
American Financial Group Inc trades under the ticker AFG on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is American Financial Group Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, American Financial Group Inc reported revenue of $8.3B, 0.2% lower than a year earlier, according to its SEC filings.
What is American Financial Group Inc's free cash flow?
American Financial Group Inc's free-cash-flow margin is 17.8% of revenue over the trailing twelve months.
Who are American Financial Group Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., FMR LLC and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is American Financial Group Inc buying back stock, and does it pay a dividend?
American Financial Group Inc spent $88M on share repurchases over the trailing twelve months, and its diluted share count fell 0.7% over the year.
What is American Financial Group Inc's market cap?
On November 2, 2026, American Financial Group Inc's market capitalisation was about $12.9B, with a price-to-earnings ratio of 13.6 and net debt of $410M. Market figures come from third-party market data and may be delayed.
Does American Financial Group Inc pay a dividend?
Yes: American Financial Group Inc paid $576M in dividends over the trailing twelve months, a dividend yield of 4.48% and a payout ratio of 60.4%.
Who are American Financial Group Inc's competitors?
In our Property & Casualty Insurance peer group, the companies closest to American Financial Group Inc are First American Financial Corp, OLD Republic International Corp, Axis Capital Holdings LTD, Hanover Insurance Group, Inc. and Mercury General Corp. The side-by-side comparison below sets their revenue, margins and growth against American Financial Group Inc's.
Are insiders buying or selling American Financial Group Inc stock?
Over the last 12 months, American Financial Group Inc's directors and officers reported 0 open-market purchases and 9 sales on Form 4. The insider trading page charts every trade.
When is American Financial Group Inc's next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — American Financial Group Inc announces its own schedule.