Aflac Incorporated (AFL) Position Decreased by Independent Order of Foresters
Independent Order of Foresters lowered its position in shares of Aflac Incorporated (NYSE:AFL) by 9.4% during the second quarter, Holdings Channel reports. The institutional investor owned 5,100 shares of the financial services provider’s stock after selling 530 shares during the period. Independent Order of Foresters’ holdings in Aflac were worth $396,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Bollard Group LLC boosted its stake in shares of Aflac by 0.6% in the first quarter. Bollard Group LLC now owns 2,325 shares of the financial services provider’s stock worth $168,000 after buying an additional 14 shares in the last quarter. Washington Trust Bank boosted its stake in shares of Aflac by 0.9% in the second quarter. Washington Trust Bank now owns 1,704 shares of the financial services provider’s stock worth $132,000 after buying an additional 16 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Aflac by 0.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 7,259 shares of the financial services provider’s stock worth $564,000 after buying an additional 27 shares in the last quarter. CWM LLC boosted its stake in shares of Aflac by 2.1% in the second quarter. CWM LLC now owns 1,430 shares of the financial services provider’s stock worth $111,000 after buying an additional 30 shares in the last quarter. Finally, Berkshire Asset Management LLC PA boosted its stake in shares of Aflac by 0.6% in the second quarter. Berkshire Asset Management LLC PA now owns 5,756 shares of the financial services provider’s stock worth $447,000 after buying an additional 34 shares in the last quarter. Institutional investors and hedge funds own 64.59% of the company’s stock.
Aflac Incorporated (NYSE AFL) opened at 81.26 on Wednesday. The stock has a market cap of $32.12 billion, a PE ratio of 12.29 and a beta of 0.99. The company has a 50-day moving average price of $78.93 and a 200-day moving average price of $74.79. Aflac Incorporated has a 52 week low of $66.50 and a 52 week high of $81.89.
Aflac (NYSE:AFL) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.48 billion. During the same period in the prior year, the company earned $1.65 earnings per share. The company’s revenue for the quarter was down .2% compared to the same quarter last year. Analysts anticipate that Aflac Incorporated will post $6.69 earnings per share for the current year.
Aflac announced that its Board of Directors has initiated a stock repurchase program on Tuesday, August 8th that allows the company to repurchase 40,000,000 shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 23rd will be issued a $0.43 dividend. The ex-dividend date of this dividend is Monday, August 21st. This represents a $1.72 annualized dividend and a dividend yield of 2.12%. Aflac’s dividend payout ratio (DPR) is currently 25.94%.
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AFL has been the topic of several research reports. Vetr upgraded shares of Aflac from a “hold” rating to a “buy” rating and set a $77.50 price target on the stock in a research report on Tuesday, April 18th. BidaskClub cut shares of Aflac from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. ValuEngine upgraded shares of Aflac from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. FBR & Co reiterated a “market perform” rating and issued a $80.00 price target (up from $68.00) on shares of Aflac in a research report on Wednesday, July 12th. Finally, Barclays PLC boosted their price target on shares of Aflac from $73.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $76.50.
In other Aflac news, President Kriss Cloninger III sold 2,500 shares of the stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $77.72, for a total value of $194,300.00. Following the completion of the sale, the president now directly owns 241,646 shares in the company, valued at $18,780,727.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karole Lloyd purchased 1,000 shares of the stock in a transaction on Monday, June 12th. The stock was acquired at an average price of $77.01 per share, with a total value of $77,010.00. Following the completion of the acquisition, the director now directly owns 7,253 shares of the company’s stock, valued at $558,553.53. The disclosure for this purchase can be found here. Insiders sold 240,203 shares of company stock valued at $18,612,224 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.
Aflac Company Profile
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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