6 stories mentioning ASX:AFGUpdated 11d ago
Every FINWIRES story that references ASX:AFG, newest first.
Australian Finance Group (ASX:AFG) said Commonwealth Bank of Australia (ASX:CBA) and its related bodies corporate ceased to be substantial holders of the firm, effective July 31, according to a Tuesday Australian bourse filing.The bank's shares climbed 1% in recent trading on Tuesday.
Australian Finance Group (ASX:AFG) said Commonwealth Bank of Australia (ASX:CBA) ceased to be a substantial holder of the company's stock on July 16, according to a Friday filing with the Australian bourse.Commonwealth Bank previously held 13.7 million shares of the company for a roughly 5.1% stake, an earlier filing showed.Shares of both Australian Finance Group and Commonwealth Bank of Australia fell nearly 2% in recent Friday trade.
Australian Finance Group (ASX:AFG) said Commonwealth Bank of Australia (ASX:CBA) ceased to be a substantial holder of the company's stock on Thursday, according to a Friday filing with the Australian bourse.Earlier in the week, Commonwealth Bank of Australia disclosed ownership of about 13.5 million ordinary shares of Australian Finance Group, representing a stake of just over 5%.
Australian Finance Group's (ASX:AFG) shares, which have de-rated about 40% since August 2025 due to rising rates and macroeconomic challenges, have created an "opportunity worth taking," Jarden said in a note on Wednesday.The investment firm started its coverage on the mortgage broker aggregator and said the market has priced in a structural decline for the stock, which it views as temporary pressure.Mortgage brokers account for around 81% of Australian mortgage settlement, providing the company with a foundational tailwind. Additionally, Australian Finance, which makes about 70% of its earnings from the Distribution segment, benefits from recurring broker subscription revenue, giving it a steady income stream.The company has an edge in building scale but remains negatively exposed to the current cash rate environment and geopolitical volatility, the firm added.Jarden initiated coverage with an overweight rating and price target of AU$2.30.
Australian Finance Group (ASX:AFG) launched an on-market share buy-back program of up to AU$15 million, according to a Tuesday filing with the Australian bourse.The company plans to start the buy-back from June 16 for up to six months, ending on Dec. 15, unless terminated or completed earlier, the filing said.The maximum number of shares that may be acquired under the buy-back is roughly 9.7 million, representing about 3.5% of the company's current issued capital, per the filing.Shares fell 5% in morning trade on Tuesday and earlier reached their lowest since July 2024.
