Aflac Incorporated (AFL) Shares Sold by Vanguard Group Inc.
Vanguard Group Inc. decreased its holdings in Aflac Incorporated (NYSE:AFL) by 0.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,929,858 shares of the financial services provider’s stock after selling 51,069 shares during the period. Vanguard Group Inc. owned about 8.06% of Aflac worth $2,480,311,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. Bollard Group LLC raised its stake in Aflac by 0.6% in the second quarter. Bollard Group LLC now owns 2,339 shares of the financial services provider’s stock valued at $182,000 after buying an additional 14 shares during the period. Washington Trust Bank raised its stake 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. Whittier Trust Co. of Nevada Inc. raised its stake in 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 valued at $564,000 after buying an additional 27 shares during the period. CWM LLC raised its stake in Aflac by 2.1% in the second quarter. CWM LLC now owns 1,430 shares of the financial services provider’s stock valued at $111,000 after buying an additional 30 shares during the period. Finally, Berkshire Asset Management LLC PA raised its stake in 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 valued at $447,000 after buying an additional 34 shares during the period. Hedge funds and other institutional investors own 65.63% of the company’s stock.
Several analysts have issued reports on the company. Zacks Investment Research upgraded Aflac from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research note on Friday, June 2nd. FBR & Co restated a “market perform” rating and issued a $80.00 price objective (up previously from $68.00) on shares of Aflac in a research note on Wednesday, July 12th. UBS AG restated an “overweight” rating on shares of Aflac in a research note on Thursday, August 24th. Barclays PLC upped their price objective on Aflac from $71.00 to $73.00 and gave the company an “equal weight” rating in a research note on Monday, July 3rd. Finally, Royal Bank Of Canada restated a “sell” rating and issued a $66.00 price objective on shares of Aflac in a research note on Wednesday, July 12th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $77.23.
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In related news, insider Teresa L. White sold 11,314 shares of Aflac 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 sale, the insider now owns 26,847 shares of the company’s stock, valued at approximately $2,094,334.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Kriss Cloninger III sold 3,500 shares of Aflac 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 completion of the sale, the president now directly owns 253,196 shares in the company, valued at approximately $20,524,067.76. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
Shares of Aflac Incorporated (NYSE:AFL) traded down 0.57% during midday trading on Thursday, reaching $83.44. The company had a trading volume of 314,106 shares. The firm has a market capitalization of $32.98 billion, a P/E ratio of 12.62 and a beta of 0.97. Aflac Incorporated has a one year low of $66.50 and a one year high of $83.94. The company has a 50 day moving average price of $81.36 and a 200-day moving average price of $76.68.
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 analysts’ consensus estimates of $1.63 by $0.20. The company had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.48 billion. Aflac had a net margin of 11.98% and a return on equity of 13.09%. Aflac’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.65 EPS. On average, analysts anticipate that Aflac Incorporated will post $6.69 EPS for the current fiscal year.
Aflac declared that its board has authorized a share repurchase plan 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 plans are generally a sign that the company’s management believes its shares are undervalued.
The business 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 was Monday, August 21st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.05%. Aflac’s dividend payout ratio (DPR) 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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