Aflac Incorporated (AFL) Position Lowered by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. reduced its position in shares of Aflac Incorporated (NYSE:AFL) by 2.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 379,269 shares of the financial services provider’s stock after selling 8,100 shares during the period. Pictet Asset Management Ltd.’s holdings in Aflac were worth $28,589,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in AFL. BlackRock Inc. raised its position in shares of Aflac by 1,750.9% in the first quarter. BlackRock Inc. now owns 23,849,668 shares of the financial services provider’s stock worth $1,727,193,000 after buying an additional 22,561,116 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Aflac by 3.4% in the first quarter. Vanguard Group Inc. now owns 31,980,927 shares of the financial services provider’s stock worth $2,316,059,000 after buying an additional 1,048,415 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Aflac by 5,077.8% in the first quarter. Teacher Retirement System of Texas now owns 600,415 shares of the financial services provider’s stock worth $43,482,000 after buying an additional 588,819 shares during the last quarter. NN Investment Partners Holdings N.V. raised its position in shares of Aflac by 365.4% in the second quarter. NN Investment Partners Holdings N.V. now owns 653,691 shares of the financial services provider’s stock worth $50,777,000 after buying an additional 513,231 shares during the last quarter. Finally, State Street Corp raised its position in shares of Aflac by 2.4% in the first quarter. State Street Corp now owns 21,858,806 shares of the financial services provider’s stock worth $1,583,023,000 after buying an additional 505,060 shares during the last quarter. 64.59% of the stock is currently owned by institutional investors.
Shares of Aflac Incorporated (NYSE:AFL) opened at 81.26 on Wednesday. The company’s 50 day moving average price is $78.93 and its 200 day moving average price is $74.79. Aflac Incorporated has a 52-week low of $66.50 and a 52-week high of $81.89. The firm has a market capitalization of $32.12 billion, a price-to-earnings 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 for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $5.48 billion. During the same quarter last year, the firm earned $1.65 EPS. Aflac’s revenue for the quarter was down .2% compared to the same quarter last year. Analysts forecast that Aflac Incorporated will post $6.69 earnings per share for the current year.
Aflac announced that its Board of Directors has authorized a stock buyback program on Tuesday, August 8th that permits the company to buyback 40,000,000 outstanding shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Wednesday, August 23rd will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Monday, August 21st. Aflac’s payout ratio is presently 25.94%.
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AFL has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Aflac from a “buy” rating to a “hold” rating in a research report on Thursday, April 20th. Royal Bank Of Canada reaffirmed an “underperform” rating and issued a $66.00 target price (up from $62.00) on shares of Aflac in a research report on Monday, May 1st. Raymond James Financial, Inc. raised Aflac from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Tuesday, April 18th. Deutsche Bank AG upped their target price on Aflac from $70.00 to $72.00 and gave the company a “hold” rating in a research report on Wednesday, April 19th. Finally, Barclays PLC upped their target price on Aflac from $71.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday, July 3rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $76.50.
In other news, Director Karole Lloyd acquired 1,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were bought at an average price of $77.01 per share, with a total value of $77,010.00. Following the acquisition, the director now owns 7,253 shares of the company’s stock, valued at $558,553.53. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Kriss Cloninger III sold 2,500 shares of Aflac stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $77.72, for a total value of $194,300.00. Following the sale, the president now directly owns 241,646 shares in the company, valued at approximately $18,780,727.12. The disclosure for this sale can be found here. Insiders have sold a total of 240,203 shares of company stock worth $18,612,224 in the last three months. 3.00% of the stock is owned by insiders.
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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