CINCINNATI (AP) — CINCINNATI (AP) — American Financial Group Inc. (AFG) on Tuesday reported fourth-quarter profit of $299 million.
On a per-share basis, the Cincinnati-based company said it had profit of $3.58. Earnings, adjusted for non-recurring costs, came to $3.65 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $3.18 per share.
The property and casualty insurer posted revenue of $2.06 billion in the period. Its adjusted revenue was $2.02 billion.
For the year, the company reported profit of $842 million, or $10.08 per share. Revenue was reported as $7.91 billion.
American Financial shares have decreased roughly 5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $130.25, a drop of almost 5% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AFG at https://www.zacks.com/ap/AFG
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