Estabrook Capital Management Has $4.96 Million Position in Aflac Incorporated (NYSE:AFL)

Estabrook Capital Management cut its stake in shares of Aflac Incorporated (NYSE:AFL) by 0.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 63,856 shares of the financial services provider’s stock after selling 600 shares during the period. Estabrook Capital Management’s holdings in Aflac were worth $4,960,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Aberdeen Asset Management PLC UK grew its holdings in shares of Aflac by 13.8% in the second quarter. Aberdeen Asset Management PLC UK now owns 188,050 shares of the financial services provider’s stock valued at $14,607,000 after purchasing an additional 22,802 shares during the period. Sand Hill Global Advisors LLC purchased a new position in Aflac during the second quarter worth about $311,000. Twin Tree Management LP boosted its stake in Aflac by 165.9% during the second quarter. Twin Tree Management LP now owns 20,169 shares of the financial services provider’s stock worth $1,567,000 after buying an additional 12,585 shares during the period. AXA boosted its stake in Aflac by 152.7% during the second quarter. AXA now owns 21,844 shares of the financial services provider’s stock worth $1,696,000 after buying an additional 13,200 shares during the period. Finally, Systematic Financial Management LP purchased a new position in Aflac during the second quarter worth about $999,000. Institutional investors own 65.66% of the company’s stock.

In other Aflac news, President Kriss Cloninger III sold 3,500 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $81.06, for a total value of $283,710.00. Following the completion of the transaction, the president now directly owns 253,196 shares of the company’s stock, valued at $20,524,067.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Teresa L. White sold 11,314 shares of the business’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $78.01, for a total value of $882,605.14. Following the completion of the transaction, the insider now directly owns 26,847 shares of the company’s stock, valued at $2,094,334.47. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.

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Aflac Incorporated (AFL) traded up 0.34% on Friday, hitting $82.39. The stock had a trading volume of 865,136 shares. The firm’s 50-day moving average price is $80.98 and its 200-day moving average price is $76.39. The firm has a market cap of $32.56 billion, a P/E ratio of 12.46 and a beta of 0.97. Aflac Incorporated has a 1-year low of $66.50 and a 1-year high of $83.39.

Aflac (NYSE:AFL) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.20. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.48 billion. Aflac had a return on equity of 13.09% and a net margin of 11.98%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 EPS. On average, equities research analysts predict that Aflac Incorporated will post $6.69 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Wednesday, August 23rd were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Monday, August 21st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.10%. Aflac’s dividend payout ratio (DPR) is presently 25.94%.

Aflac declared that its board has authorized a stock repurchase program on Tuesday, August 8th that permits the company to buyback 40,000,000 shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Several research analysts have weighed in on the stock. Zacks Investment Research raised shares of Aflac from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a research note on Friday, June 2nd. FBR & Co reissued a “market perform” rating and set a $80.00 price objective (up previously from $68.00) on shares of Aflac in a report on Wednesday, July 12th. UBS AG reaffirmed an “overweight” rating on shares of Aflac in a report on Thursday, August 24th. Barclays PLC boosted their target price on shares of Aflac from $71.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, July 3rd. Finally, Royal Bank Of Canada reaffirmed a “sell” rating and set a $66.00 price target on shares of Aflac in a research note on Wednesday, July 12th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $77.23.

About Aflac

Aflac Incorporated is a business holding company. The Company is involved in supplemental health and life insurance, which is marketed and administered through its subsidiary, American Family Life Assurance Company of Columbus (Aflac). The Company’s insurance business consists of two segments: Aflac Japan and Aflac U.S.

Institutional Ownership by Quarter for Aflac (NYSE:AFL)

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