Sand Hill Global Advisors LLC acquired a new position in shares of Aflac Incorporated (NYSE:AFL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,000 shares of the financial services provider’s stock, valued at approximately $311,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Dowling & Yahnke LLC grew its stake in Aflac by 0.4% during the first quarter. Dowling & Yahnke LLC now owns 25,464 shares of the financial services provider’s stock worth $1,844,000 after buying an additional 90 shares during the last quarter. Palisade Asset Management LLC lifted its position in shares of Aflac by 0.6% during the first quarter. Palisade Asset Management LLC now owns 134,118 shares of the financial services provider’s stock worth $9,713,000 after purchasing an additional 786 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD lifted its position in shares of Aflac by 8.4% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 34,562 shares of the financial services provider’s stock worth $2,502,000 after purchasing an additional 2,675 shares in the last quarter. Parsons Capital Management Inc. RI lifted its position in shares of Aflac by 1.0% during the first quarter. Parsons Capital Management Inc. RI now owns 31,719 shares of the financial services provider’s stock worth $2,297,000 after purchasing an additional 309 shares in the last quarter. Finally, Beaumont Financial Partners LLC acquired a new position in shares of Aflac during the first quarter worth approximately $612,000. 65.66% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on AFL. Zacks Investment Research upgraded shares of Aflac from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research report on Friday. Bank of America Corporation lowered shares of Aflac from a “neutral” rating to an “underperform” rating in a report on Friday, September 8th. UBS AG restated an “overweight” rating on shares of Aflac in a report on Thursday, August 24th. Barclays PLC increased their price objective on shares of Aflac from $73.00 to $79.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. Finally, ValuEngine raised shares of Aflac from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $77.23.
In other news, President Kriss Cloninger III sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $81.06, for a total transaction of $283,710.00. Following the sale, the president now directly owns 253,196 shares of the company’s stock, valued at approximately $20,524,067.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Teresa L. White sold 11,314 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $78.01, for a total value of $882,605.14. Following the transaction, the insider now directly owns 26,847 shares in the company, valued at approximately $2,094,334.47. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.
Aflac Incorporated (AFL) traded up 0.384% on Friday, reaching $82.425. 960,135 shares of the company were exchanged. Aflac Incorporated has a 12-month low of $66.50 and a 12-month high of $83.39. The stock has a market capitalization of $32.58 billion, a P/E ratio of 12.462 and a beta of 0.97. The company’s 50-day moving average price is $80.98 and its 200-day moving average price is $76.39.
Aflac (NYSE:AFL) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.20. Aflac had a return on equity of 13.09% and a net margin of 11.98%. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.48 billion. During the same period in the previous year, the company posted $1.65 EPS. The business’s quarterly revenue was down .2% compared to the same quarter last year. Equities research analysts anticipate that Aflac Incorporated will post $6.69 earnings per share for the current fiscal year.
Aflac declared that its Board of Directors has approved a stock buyback plan on Tuesday, August 8th that allows the company to repurchase 40,000,000 outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Wednesday, August 23rd were issued a $0.43 dividend. The ex-dividend date of this dividend was Monday, August 21st. This represents a $1.72 dividend on an annualized basis and a yield of 2.10%. Aflac’s dividend payout ratio is presently 25.94%.
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.
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