American National Insurance (ANAT) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of American National Insurance (NASDAQ:ANAT) from a hold rating to a buy rating in a report issued on Thursday.

Shares of ANAT stock opened at $125.42 on Thursday. American National Insurance has a one year low of $112.89 and a one year high of $134.03. The company has a market cap of $3.37 billion, a P/E ratio of 15.20 and a beta of 1.07.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 2.62%. The ex-dividend date is Thursday, December 6th.

A number of hedge funds have recently modified their holdings of the stock. Legal & General Group Plc increased its position in shares of American National Insurance by 44.9% in the first quarter. Legal & General Group Plc now owns 4,357 shares of the insurance provider’s stock worth $510,000 after acquiring an additional 1,351 shares in the last quarter. Royal Bank of Canada increased its position in shares of American National Insurance by 103.8% in the first quarter. Royal Bank of Canada now owns 7,677 shares of the insurance provider’s stock worth $898,000 after acquiring an additional 3,910 shares in the last quarter. Bank of Montreal Can increased its position in shares of American National Insurance by 612.5% in the second quarter. Bank of Montreal Can now owns 21,581 shares of the insurance provider’s stock worth $2,581,000 after acquiring an additional 18,552 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of American National Insurance by 4,077.0% in the second quarter. BNP Paribas Arbitrage SA now owns 31,996 shares of the insurance provider’s stock worth $3,826,000 after acquiring an additional 31,230 shares in the last quarter. Finally, River Road Asset Management LLC increased its position in shares of American National Insurance by 4.1% in the second quarter. River Road Asset Management LLC now owns 72,080 shares of the insurance provider’s stock worth $8,620,000 after acquiring an additional 2,863 shares in the last quarter. 65.33% of the stock is owned by hedge funds and other institutional investors.

About American National Insurance

American National Insurance Company, together with its subsidiaries, provides various insurance products and services in the United States, the District of Columbia, and Puerto Rico. The company's Life segment offers whole life, term life, universal life, variable universal life, and credit life insurance products.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

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