Alpha Cubed Investments LLC Decreases Position in Aflac Incorporated (NYSE:AFL)
Alpha Cubed Investments LLC reduced its stake in shares of Aflac Incorporated (NYSE:AFL) by 8.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,139 shares of the financial services provider’s stock after selling 362 shares during the period. Alpha Cubed Investments LLC’s holdings in Aflac were worth $322,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Aflac by 3.4% in the first quarter. Vanguard Group Inc. now owns 31,980,927 shares of the financial services provider’s stock valued at $2,316,059,000 after buying an additional 1,048,415 shares in the last quarter. BlackRock Inc. boosted its stake in Aflac by 1,750.9% in the first quarter. BlackRock Inc. now owns 23,849,668 shares of the financial services provider’s stock valued at $1,727,193,000 after buying an additional 22,561,116 shares in the last quarter. State Street Corp boosted its stake in Aflac by 2.4% in the first quarter. State Street Corp now owns 21,858,806 shares of the financial services provider’s stock valued at $1,583,023,000 after buying an additional 505,060 shares in the last quarter. AQR Capital Management LLC boosted its stake in Aflac by 4.1% in the first quarter. AQR Capital Management LLC now owns 4,390,534 shares of the financial services provider’s stock valued at $317,962,000 after buying an additional 173,236 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Aflac by 8.4% in the first quarter. Geode Capital Management LLC now owns 4,076,593 shares of the financial services provider’s stock valued at $294,824,000 after buying an additional 314,506 shares in the last quarter. 64.64% of the stock is owned by institutional investors.
Aflac Incorporated (NYSE:AFL) opened at 80.82 on Friday. Aflac Incorporated has a 12 month low of $66.50 and a 12 month high of $81.80. The company has a market capitalization of $31.94 billion, a PE ratio of 12.22 and a beta of 0.99. The company has a 50-day moving average price of $78.63 and a 200 day moving average price of $74.49.
Aflac (NYSE:AFL) last posted its quarterly earnings data 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. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.48 billion. Aflac had a return on equity of 13.09% and a net margin of 11.98%. Aflac’s revenue was down .2% on a year-over-year basis. During the same period in the prior year, the business posted $1.65 EPS. On average, equities research analysts forecast that Aflac Incorporated will post $6.67 EPS for the current fiscal year.
Aflac announced that its Board of Directors has initiated a share buyback program on Tuesday, August 8th that allows the company to repurchase 40,000,000 shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Wednesday, August 23rd will be paid 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 2.13%. Aflac’s dividend payout ratio (DPR) is 25.94%.
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AFL has been the subject of several research reports. Zacks Investment Research cut Aflac from a “buy” rating to a “hold” rating in a research report on Wednesday, May 31st. Bank of America Corporation raised Aflac from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $75.00 to $78.00 in a research report on Tuesday, July 4th. BidaskClub cut Aflac from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. ValuEngine raised Aflac from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Finally, Raymond James Financial, Inc. raised Aflac from a “market perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Tuesday, April 18th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $75.95.
In other Aflac news, Director Karole Lloyd purchased 1,000 shares of the business’s stock in a transaction on Monday, June 12th. The stock was acquired at an average price of $77.01 per share, for a total transaction of $77,010.00. Following the purchase, the director now owns 7,253 shares of the company’s stock, valued at approximately $558,553.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul S. Amos II sold 222,889 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $77.40, for a total value of $17,251,608.60. Following the completion of the sale, the insider now owns 329,540 shares of the company’s stock, valued at approximately $25,506,396. The disclosure for this sale can be found here. Insiders sold a total of 240,203 shares of company stock valued at $18,612,224 over the last 90 days. 3.00% of the stock is currently owned by company insiders.
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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