State of Michigan Retirement System raised its stake in shares of AFLAC Incorporated (NYSE:AFL) by 8.9% in the 2nd quarter, Holdings Channel reports. The firm owned 183,205 shares of the financial services provider’s stock after purchasing an additional 15,015 shares during the quarter. State of Michigan Retirement System’s holdings in AFLAC were worth $6,601,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Duality Advisers LP bought a new position in AFLAC during the 2nd quarter worth approximately $233,000. Eads & Heald Wealth Management raised its stake in AFLAC by 1.1% during the second quarter. Eads & Heald Wealth Management now owns 45,858 shares of the financial services provider’s stock worth $1,652,000 after buying an additional 501 shares during the last quarter. Mattern Wealth Management LLC raised its stake in AFLAC by 4.0% during the second quarter. Mattern Wealth Management LLC now owns 29,032 shares of the financial services provider’s stock worth $1,046,000 after buying an additional 1,116 shares during the last quarter. Pacer Advisors Inc. acquired a new position in AFLAC in the second quarter valued at $2,226,000. Finally, PhiloSmith Capital Corp boosted its position in AFLAC by 11.6% during the second quarter. PhiloSmith Capital Corp now owns 287,800 shares of the financial services provider’s stock valued at $10,368,000 after acquiring an additional 30,000 shares during the last quarter. 67.27% of the stock is owned by institutional investors and hedge funds.
AFL has been the topic of a number of recent analyst reports. ValuEngine raised AFLAC from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 6th. Raymond James cut their price target on AFLAC from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, April 17th. SunTrust Banks lowered their price objective on shares of AFLAC from $44.00 to $37.00 and set a “hold” rating for the company in a research note on Thursday. Zacks Investment Research lowered shares of AFLAC from a “buy” rating to a “hold” rating and set a $37.00 target price on the stock. in a research note on Tuesday, April 7th. Finally, Morgan Stanley raised their price target on shares of AFLAC from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. AFLAC currently has a consensus rating of “Hold” and a consensus price target of $44.20.
AFLAC (NYSE:AFL) last issued its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.23. AFLAC had a net margin of 13.50% and a return on equity of 11.98%. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.49 billion. During the same period last year, the company earned $1.13 earnings per share. The business’s revenue was down 1.9% on a year-over-year basis. On average, equities analysts predict that AFLAC Incorporated will post 4.47 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Tuesday, August 18th. AFLAC’s dividend payout ratio is currently 25.23%.
Aflac Incorporated, through its subsidiaries, provides voluntary supplemental health and life insurance products. It operates through two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers voluntary supplemental insurance products, including cancer plans, general medical indemnity plans, medical/sickness riders, care plans, living benefit life plans, ordinary life insurance plans, and annuities in Japan.
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