AMERICAN FINANCIAL GROUP INC
For the period ended Dec 31, 2025. Filed Feb 25, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 25, 2026
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Item 4. Mine Safety Disclosures
Not applicable.
Part II
AFG Common Stock is listed and traded on the New York Stock Exchange under the symbol AFG. There were approximately 4,100 shareholders of record of AFG Common Stock at February 1, 2026.
Issuer Purchases of Equity Securities
AFG repurchased shares of its Common Stock during 2025 as follows:
| TotalNumberof SharesPurchased | AveragePrice PaidPer Share | Total Numberof SharesPurchased asPart of PubliclyAnnounced Plansor Programs | Maximum Numberof Sharesthat MayYet be PurchasedUnder the Plansor Programs | |
|---|---|---|---|---|
| First quarter | 462,398 | $123.86 | 462,398 | 5,266,612 |
| Second quarter | 319,736 | 120.59 | 319,736 | 4,946,876 |
| Third quarter | 6,000 | 122.81 | 6,000 | 4,940,876 |
| Fourth quarter: | ||||
| October | 6,406 | $129.70 | 6,406 | 4,934,470 |
| November | 4,858 | 129.30 | 4,858 | 4,929,612 |
| December | — | — | — | 5,000,000(b) |
| Total | 799,398 | $122.63(a) | 799,398 | |
(a)AFG declared special dividends totaling $4.00 per share of its Common Stock in 2025. Adjusted for the special dividends, the average price paid per share was $119.47 for 2025. In addition, at December 31, 2025, AFG has a $1 million payable related to the excise tax on share repurchases.
(b)Represents the remaining shares that may be repurchased until December 31, 2030 under the Plan authorized by AFG’s Board of Directors in December 2025. In December 2025, AFG’s Board of Directors authorized the repurchase of five million shares and the Plan authorized by AFG’s Board of Directors in May 2021 expired.
In connection with its stock incentive plan, AFG acquired 43,387 shares of its Common Stock (at an average of $120.73 per share) in the first nine months of 2025 and 118 shares (at $137.21 per share) in December 2025.
Stock Performance Graph
The following graph compares the performance of AFG Common Stock during the five year period from December 31, 2020 through December 31, 2025 with the performance of (i) the S&P 500 Composite Stock Index (“S&P 500 Index”) and (ii) the S&P 500 Property & Casualty Insurance Index. The graph assumes that an initial investment of $100 was made on December 31, 2020 and all dividends were reinvested. The stock price performance presented below is not intended to be indicative of future price performance.
| As of December 31, | ||||||
|---|---|---|---|---|---|---|
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
| AFG | $100 | $195 | $216 | $200 | $247 | $261 |
| S&P 500 Index | 100 | 129 | 105 | 133 | 166 | 196 |
| S&P 500 P&C Index (b) | 100 | 118 | 140 | 155 | 209 | 229 |
(a)Cumulative total shareholder return measures the performance of a company’s stock (or an index) over time and is calculated as the change in the stock price plus cumulative dividends (assuming dividends are reinvested) over a specific period of time divided by the stock price at the beginning of the time period.
(b)The S&P 500 Property & Casualty Insurance Index included the following companies at December 31, 2025 (weighted by market capitalization): The Allstate Corporation, American International Group, Inc., Arch Capital Group Ltd., Assurant, Inc., Chubb Limited, Cincinnati Financial Corporation, Erie Indemnity Company, The Hartford Insurance Group, Inc., Loews Corporation, The Progressive Corporation, The Travelers Companies, Inc. and W.R. Berkley Corporation.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.