Aflac Incorporated (AFL) Shares Bought by ARGA Investment Management LP
ARGA Investment Management LP increased its stake in Aflac Incorporated (NYSE:AFL) by 73.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,400 shares of the financial services provider’s stock after buying an additional 15,800 shares during the period. ARGA Investment Management LP’s holdings in Aflac were worth $2,905,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the company. Beaumont Financial Partners LLC bought a new position in Aflac during the first quarter valued at approximately $612,000. Parsons Capital Management Inc. RI increased its position in Aflac by 1.0% in the first quarter. Parsons Capital Management Inc. RI now owns 31,719 shares of the financial services provider’s stock valued at $2,297,000 after buying an additional 309 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its position in Aflac by 8.4% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 34,562 shares of the financial services provider’s stock valued at $2,502,000 after buying an additional 2,675 shares during the period. Palisade Asset Management LLC increased its position in Aflac by 0.6% in the first quarter. Palisade Asset Management LLC now owns 134,118 shares of the financial services provider’s stock valued at $9,713,000 after buying an additional 786 shares during the period. Finally, Dowling & Yahnke LLC increased its position in Aflac by 0.4% in the first quarter. Dowling & Yahnke LLC now owns 25,464 shares of the financial services provider’s stock valued at $1,844,000 after buying an additional 90 shares during the period. 65.63% of the stock is currently owned by hedge funds and other institutional investors.
Aflac Incorporated (NYSE:AFL) opened at 82.55 on Friday. The company has a market capitalization of $32.63 billion, a PE ratio of 12.48 and a beta of 0.99. Aflac Incorporated has a 12-month low of $66.50 and a 12-month high of $82.70. The stock has a 50 day moving average of $79.86 and a 200-day moving average of $75.71.
Aflac (NYSE:AFL) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.83 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 business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the previous year, the firm earned $1.65 EPS. The company’s quarterly revenue was down .2% compared to the same quarter last year. Equities analysts expect that Aflac Incorporated will post $6.69 earnings per share for the current year.
The business also recently declared 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. The ex-dividend date is Monday, August 21st. This represents a $1.72 annualized dividend and a dividend yield of 2.08%. Aflac’s dividend payout ratio is presently 25.94%.
Aflac announced that its Board of Directors has initiated a share repurchase program on Tuesday, August 8th that allows the company to buyback 40,000,000 shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Several equities analysts have recently commented on the stock. ValuEngine raised shares of Aflac from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Barclays PLC boosted their target price on shares of Aflac from $73.00 to $79.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th. UBS AG reissued an “overweight” rating on shares of Aflac in a report on Thursday, August 24th. BidaskClub downgraded shares of Aflac from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Finally, Bank of America Corporation raised shares of Aflac from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $75.00 to $78.00 in a report on Tuesday, July 4th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $76.50.
In other Aflac news, Director Karole Lloyd acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was purchased at an average cost of $77.01 per share, with a total value 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Teresa L. White sold 11,314 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $78.01, for a total value of $882,605.14. Following the sale, 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. Insiders have sold a total of 240,203 shares of company stock valued at $18,612,224 over the last three months. Corporate 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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