Aflac Incorporated (AFL) Position Held by Palisade Capital Management LLC NJ
Palisade Capital Management LLC NJ held its stake in shares of Aflac Incorporated (NYSE:AFL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,400 shares of the financial services provider’s stock at the end of the second quarter. Palisade Capital Management LLC NJ’s holdings in Aflac were worth $419,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. CWM LLC raised its position in Aflac by 7.7% in the first quarter. CWM LLC now owns 1,400 shares of the financial services provider’s stock valued at $101,000 after buying an additional 100 shares during the period. Washington Trust Bank raised its position in Aflac by 0.9% in the second quarter. Washington Trust Bank now owns 1,704 shares of the financial services provider’s stock valued at $132,000 after buying an additional 16 shares during the period. Harfst & Associates Inc. bought a new position in Aflac during the first quarter valued at approximately $128,000. Sit Investment Associates Inc. raised its position in Aflac by 1.8% in the second quarter. Sit Investment Associates Inc. now owns 2,137 shares of the financial services provider’s stock valued at $166,000 after buying an additional 37 shares during the period. Finally, Bollard Group LLC raised its position in Aflac by 0.6% in the first quarter. Bollard Group LLC now owns 2,325 shares of the financial services provider’s stock valued at $168,000 after buying an additional 14 shares during the period. 64.59% of the stock is owned by hedge funds and other institutional investors.
Shares of Aflac Incorporated (NYSE:AFL) opened at 81.26 on Wednesday. The stock’s 50 day moving average price is $78.93 and its 200-day moving average price is $74.79. Aflac Incorporated has a 12 month low of $66.50 and a 12 month high of $81.89. The firm has a market cap of $32.12 billion, a P/E ratio of 12.29 and a beta of 0.99.
Aflac (NYSE:AFL) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.20. Aflac had a net margin of 11.98% and a return on equity of 13.09%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same period last year, the firm posted $1.65 EPS. The company’s revenue was down .2% on a year-over-year basis. Equities research analysts anticipate that Aflac Incorporated will post $6.69 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 23rd will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Monday, August 21st. Aflac’s dividend payout ratio (DPR) is currently 25.94%.
Aflac declared that its board has approved a share repurchase plan on Tuesday, August 8th that permits the company to buyback 40,000,000 shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
Several equities analysts have recently commented on AFL shares. Raymond James Financial, Inc. raised Aflac from a “market perform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Tuesday, April 18th. Zacks Investment Research raised Aflac from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a report on Friday, June 2nd. Barclays PLC boosted their price objective on Aflac from $71.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, July 3rd. Royal Bank Of Canada reiterated an “underperform” rating and set a $66.00 price objective (up from $62.00) on shares of Aflac in a research report on Monday, May 1st. Finally, Deutsche Bank AG boosted their price objective on Aflac from $70.00 to $72.00 and gave the stock a “hold” rating in a research report on Wednesday, April 19th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $76.50.
In other news, Director Karole Lloyd bought 1,000 shares of the stock in a transaction dated Monday, June 12th. The stock was purchased at an average cost of $77.01 per share, for a total transaction of $77,010.00. Following the transaction, the director now owns 7,253 shares of the company’s stock, valued at $558,553.53. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Kriss Cloninger III sold 3,500 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $81.06, for a total value of $283,710.00. Following the transaction, the president now owns 253,196 shares of the company’s stock, valued at $20,524,067.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 240,203 shares of company stock valued at $18,612,224. Insiders own 3.00% of the company’s stock.
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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