Definitive Analysis | Institutional-Grade Financial Research
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

American Financial Group, Inc. (AFG)

Company Dividend Discount ModelIndustry: Insurance - Property & CasualtySector: Financial Services

Valuation Snapshot

Stable Growth$164.35 - $330.11$228.75
Multi-Stage$157.77 - $171.84$164.68
Blended Fair Value$196.72
Current Price$145.72
Upside35.00%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS12.16%16.78%9.428.1714.5028.373.995.314.714.982.212.10
YoY Growth--15.20%-43.61%-48.90%610.78%-24.77%12.69%-5.52%125.41%5.11%5.39%
Dividend Yield--7.17%6.07%11.93%19.48%3.50%7.57%4.86%4.44%2.32%2.99%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)798.00
(-) Cash Dividends Paid (M)770.00
(=) Cash Retained (M)28.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)159.6099.7559.85
Cash Retained (M)28.0028.0028.00
(-) Cash Required (M)-159.60-99.75-59.85
(=) Excess Retained (M)-131.60-71.75-31.85
(/) Shares Outstanding (M)83.6883.6883.68
(=) Excess Retained per Share-1.57-0.86-0.38
LTM Dividend per Share9.209.209.20
(+) Excess Retained per Share-1.57-0.86-0.38
(=) Adjusted Dividend7.638.348.82
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate4.24%5.24%6.24%
Fair Value$164.35$228.75$330.11
Upside / Downside12.78%56.98%126.53%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)798.00839.82883.84930.16978.901,030.211,061.11
Payout Ratio96.49%95.19%93.89%92.60%91.30%90.00%92.50%
Projected Dividends (M)770.00799.45829.88861.29893.72927.19981.53

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate4.24%5.24%6.24%
Year 1 PV (M)725.94732.90739.87
Year 2 PV (M)684.27697.47710.78
Year 3 PV (M)644.88663.61682.71
Year 4 PV (M)607.63631.28655.62
Year 5 PV (M)572.41600.40629.47
PV of Terminal Value (M)9,966.5010,453.8110,960.00
Equity Value (M)13,201.6313,779.4814,378.45
Shares Outstanding (M)83.6883.6883.68
Fair Value$157.77$164.68$171.84
Upside / Downside8.27%13.01%17.92%

High-Yield Dividend Screener

Page 1 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
ARDCAres Dynamic Credit Allocation Fund, Inc.19.91%$2.6577.10%
JGHNuveen Global High Income Fund19.71%$2.4870.08%
BSLBlackstone / GSO Senior Floating Rate Term Fund19.66%$2.6595.83%
RGTRoyce Global Value Trust, Inc.19.58%$2.5637.89%
AIKIAIkido Pharma Inc.19.55%$0.7010.85%
PFNPIMCO Income Strategy Fund II19.43%$1.4672.85%
JLSNuveen Mortgage and Income Fund19.40%$3.5384.31%
ACVVirtus Diversified Income & Convertible Fund19.28%$5.0772.66%
BGBBlackstone/GSO Strategic Credit Fund19.19%$2.2686.72%
PHKPIMCO High Income Fund19.11%$0.9386.61%
DTWDTE Energy Company JR SUB DB 2017 E19.03%$4.0887.19%
EMDWestern Asset Emerging Markets Debt Fund Inc.18.84%$2.0378.17%
SR-PASpire Inc.18.76%$4.5498.60%
SRVNXG Cushing Midstream Energy Fund18.74%$7.5366.75%
CIKCredit Suisse Asset Management Income Fund, Inc.18.41%$0.5282.82%
DHYCredit Suisse High Yield Bond Fund, Inc.18.39%$0.3788.67%
MNRMach Natural Resources LP18.30%$2.0689.28%
PFLPIMCO Income Strategy Fund18.22%$1.5484.57%
EADWells Fargo Advantage Funds - Allspring Income Opportunities Fund18.08%$1.2352.27%
SPESpecial Opportunities Fund, Inc.18.03%$2.6644.19%
AIFApollo Tactical Income Fund Inc.17.93%$2.6660.44%
GABThe Gabelli Equity Trust Inc.17.77%$1.0881.70%
HPFJohn Hancock Preferred Income Fund II17.73%$2.8678.50%
MPVBarings Participation Investors17.65%$2.9395.78%
GBABGuggenheim Taxable Municipal Bond & Investment Grade Debt Trust17.43%$2.5974.37%
TEITempleton Emerging Markets Income Fund17.42%$1.1464.65%
ISDPGIM High Yield Bond Fund, Inc.17.40%$2.5296.64%
HIXWestern Asset High Income Fund II Inc.17.39%$0.7396.11%
NXGNXG NextGen Infrastructure Income Fund17.31%$8.7983.58%
HPIJohn Hancock Preferred Income Fund17.11%$2.7976.40%
RCSPIMCO Strategic Income Fund, Inc.17.08%$1.0075.51%
DUKBDuke Energy Corporation 5.625%16.95%$4.1965.28%
FGBFirst Trust Specialty Finance and Financial Opportunities Fund16.75%$0.7050.91%
RQICohen & Steers Quality Income Realty Fund, Inc.16.75%$1.9287.08%
FPFFirst Trust Intermediate Duration Preferred & Income Fund16.57%$3.0970.83%
EVVEaton Vance Limited Duration Income Fund16.43%$1.6364.70%
AIZNAssurant, Inc. 5.25% Subordinat16.41%$3.2219.47%
NMLNeuberger Berman MLP and Energy Income Fund Inc.16.37%$1.4040.22%
PGPPIMCO Global StocksPLUS & Income Fund16.31%$1.5060.66%
CHWCalamos Global Dynamic Income Fund16.07%$1.2066.54%
BGYBlackRock Enhanced International Dividend Trust15.99%$0.9499.21%
GABBXGabelli Dividend Growth AAA15.98%$2.8540.22%
BDJBlackRock Enhanced Equity Dividend Trust15.90%$1.4972.30%
DSLDoubleLine Income Solutions Fund15.85%$1.7854.50%
PDTJohn Hancock Premium Dividend Fund15.76%$2.0162.66%
TSQTownsquare Media, Inc.15.55%$0.7970.58%
EODWells Fargo Advantage Funds - Allspring Global Dividend Opportunity Fund15.39%$0.9052.51%
LGILazard Global Total Return and Income Fund, Inc.15.37%$2.6882.52%
BSTZBlackRock Science and Technology Trust II15.35%$3.5465.39%
FPIFarmland Partners Inc.15.34%$1.4893.00%