This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

American Financial Group, Inc. Announces Third Quarter And Nine Month Results

Stocks in this article: AFG

American Financial Group, Inc. (NYSE: AFG) (NASDAQ: AFG) today reported net earnings attributable to shareholders of $226 million ($2.39 per share) for the 2012 third quarter, compared to $97 million ($0.95 per share) for the 2011 third quarter. The 2012 third quarter results include $148 million ($1.57 per share) in after-tax non-core earnings, primarily the result of a $101 million after-tax gain on the sale of the Company’s supplemental insurance businesses, realized gains on securities and the results of AFG’s tax case resolution, which were offset somewhat by a reserve strengthening related to the Company’s asbestos and other environmental exposures. These, and other less significant non-core items, are outlined in the table below. Book value per share, excluding appropriated retained earnings and unrealized gains (losses) on fixed maturities, increased by $1.98 to $42.72 per share during the quarter. Net earnings attributable to shareholders for the 2012 nine month period were $438 million ($4.50 per share), compared with $233 million ($2.23 per share) in the comparable 2011 period.

Core net operating earnings were $78 million ($0.82 per share) for the 2012 third quarter, compared to $92 million ($0.91 per share) reported in the 2011 third quarter. Core net operating earnings for the first nine months of 2012 were $253 million ($2.59 per share) compared to $257 million ($2.47 per share) for the same period a year ago. Higher profits in our Annuity and Supplemental Insurance (“A&S”) Group were offset by lower underwriting earnings and lower investment income in our Specialty Property and Casualty Insurance (“P&C”) operations. Nine month annualized core operating return on equity was 9%.

During the third quarter of 2012, AFG repurchased 4.3 million shares of common stock at an average price per share of $37.64. Repurchases during the first nine months of 2012 were $315 million at an average price per share of $37.96.

1 of 12

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs