CINCINNATI - American Financial Group , Inc. (NYSE: NYSE:AFG) has announced the promotion of JD (NASDAQ:JD) Rogers (NYSE:ROG) to the position of Vice President & Chief Information Security Officer. Rogers, who has been with the company since 2008, has led the Enterprise Information Security Group (EISG) since its establishment in 2013.
Rogers previously held the role of Divisional Senior Vice President within AFG's property and casualty insurance operations, Great American Insurance Group. His promotion is a testament to his leadership in risk management and his efforts to foster a culture of security awareness and accountability within the company.
Sue A. Erhart, Vice President at American Financial Group, commended Rogers for his significant contributions to the company's security, noting the effectiveness and efficiency of his approach to managing risk.
In addition to his practical experience, Rogers has a strong academic background with a Bachelor of Science in Computer Science from Northern Kentucky University and a Master of Science in Information Systems from the University of Denver. He also holds several cybersecurity certifications, including Certified Information Systems Security Professional (CISSP) and Certified Information Security Manager (CISM).
American Financial Group, headquartered in Cincinnati, Ohio, is a leading insurance holding company. Through Great American Insurance Group, AFG focuses on specialized commercial products for businesses, with the group's origins dating back to 1872.
The information in this article is based on a press release statement from American Financial Group, Inc.
In other recent news, American Financial Group (AFG) reported robust first quarter results for 2024, with a notable 8% year-over-year increase in net written premiums. The company's strategic focus on its Specialty Property & Casualty Insurance businesses led to a strong combined ratio of 90.1% and an impressive annualized operating return on equity of 20%. Despite facing challenges in its alternative investment portfolio and multifamily housing investments, AFG returned substantial value to shareholders, distributing $269 million through dividends and share repurchases.
Simultaneously, a study by SeoProfy revealed a lack of customer loyalty among Fortune 500 companies. American Family Insurance Group emerged as a leader in customer loyalty with a net promoter score (NPS) of 78%, despite a $1.9 billion loss last year. SeoProfy's CEO, Victor Karpenko, suggested the low scores across the board reflect deeper issues within American business culture, with companies prioritizing short-term profits over customer satisfaction.
In analyst news, Piper Sandler adjusted its price target for American Financial, raising it to $135 from $129, while maintaining a Neutral rating. The firm noted that the company's recent financial outcomes surpassed consensus expectations primarily due to investment income. However, the results did not fully meet Piper Sandler's forecasts due to slightly weaker underwriting outcomes and higher-than-anticipated expenses.
InvestingPro Insights
Amid the recent management changes at American Financial Group, Inc. (NYSE: AFG), the company's financial health and investment outlook remain a key focus for current and prospective investors. AFG has demonstrated a strong financial performance with a noteworthy Market Cap of 10.47B USD, reflecting its significant presence in the insurance industry. The company's resilience is further underscored by its P/E Ratio (Adjusted) of 11.54 for the last twelve months as of Q1 2024, which, although on the higher side, could indicate investor confidence in its future earnings potential.
With a Dividend Yield of 5.5% as of mid-2024, AFG continues to reward shareholders, maintaining its impressive streak of dividend payments for 39 consecutive years. This commitment to returning value to shareholders is a testament to AFG's stable financial position, where its liquid assets comfortably cover short-term obligations. The company's ability to sustain dividend payments even with a challenging gross profit margin of 20.09% for the last twelve months as of Q1 2024, reflects its robust financial management and strategic operational efficiency.
InvestingPro Tips highlight AFG's perfect Piotroski Score of 9, which suggests a very healthy financial state, and the fact that analysts predict the company will be profitable this year. These insights, along with many others, are available on InvestingPro, which provides additional tips to help investors make informed decisions. For those looking to delve deeper into AFG's financial metrics and investment potential, using the coupon code PRONEWS24 can secure an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With a total of 7 additional InvestingPro Tips available, investors have ample detailed analysis at their disposal.
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