CINCINNATI (AP) — CINCINNATI (AP) — American Financial Group Inc. (AFG) on Wednesday reported first-quarter earnings of $242 million.
On a per-share basis, the Cincinnati-based company said it had net income of $2.89. Earnings, adjusted for non-recurring gains, were $2.76 per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.77 per share.
The property and casualty insurer posted revenue of $1.91 billion in the period. Its adjusted revenue was $1.88 billion, also missing Street forecasts. Four analysts surveyed by Zacks expected $1.89 billion.
American Financial shares have increased slightly more than 8% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $128.74, an increase of nearly 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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