Benjamin F. Edwards & Company Inc. Has $1.95 Million Stake in Aflac Incorporated (AFL)
Benjamin F. Edwards & Company Inc. boosted its stake in Aflac Incorporated (NYSE:AFL) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,146 shares of the financial services provider’s stock after buying an additional 392 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Aflac were worth $1,953,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. CWM LLC raised its stake 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 in the last quarter. Harfst & Associates Inc. bought a new stake in shares of Aflac during the first quarter worth $128,000. Washington Trust Bank raised its stake in shares of Aflac by 0.9% in the second quarter. Washington Trust Bank now owns 1,704 shares of the financial services provider’s stock worth $132,000 after buying an additional 16 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Aflac by 0.3% in the first quarter. Quadrant Capital Group LLC now owns 2,391 shares of the financial services provider’s stock worth $166,000 after buying an additional 7 shares in the last quarter. Finally, Sit Investment Associates Inc. raised its stake in shares of Aflac by 1.8% in the second quarter. Sit Investment Associates Inc. now owns 2,137 shares of the financial services provider’s stock worth $166,000 after buying an additional 37 shares in the last quarter. Institutional investors and hedge funds own 64.64% of the company’s stock.
Aflac Incorporated (NYSE AFL) opened at 81.77 on Thursday. The stock’s 50 day moving average is $78.54 and its 200 day moving average is $74.44. The company has a market cap of $32.38 billion, a P/E ratio of 12.36 and a beta of 0.99. Aflac Incorporated has a 1-year low of $66.50 and a 1-year high of $81.80.
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 the Zacks’ consensus estimate of $1.63 by $0.20. Aflac had a net margin of 11.98% and a return on equity of 13.09%. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the prior year, the company earned $1.65 EPS. The firm’s revenue was down .2% on a year-over-year basis. Equities analysts anticipate that Aflac Incorporated will post $6.67 earnings per share for the current fiscal year.
Aflac announced that its Board of Directors has initiated a share buyback plan on Tuesday, August 8th that allows the company to repurchase 40,000,000 shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The firm 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 dividend on an annualized basis and a dividend yield of 2.10%. Aflac’s dividend payout ratio (DPR) is 25.94%.
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A number of analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Aflac from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research report on Friday, June 2nd. Royal Bank Of Canada restated an “underperform” rating and issued a $66.00 target price (up previously from $62.00) on shares of Aflac in a research report on Monday, May 1st. FBR & Co restated a “market perform” rating and issued a $80.00 target price (up previously from $68.00) on shares of Aflac in a research report on Wednesday, July 12th. Barclays PLC raised their target price on shares of Aflac from $71.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday, July 3rd. Finally, Vetr upgraded shares of Aflac from a “hold” rating to a “buy” rating and set a $77.50 target price on the stock in a research report on Tuesday, April 18th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $75.95.
In other news, insider Teresa L. White sold 11,314 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 26,847 shares of the company’s stock, valued at approximately $2,094,334.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karole Lloyd acquired 1,000 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was acquired at an average cost of $77.01 per share, with a total value of $77,010.00. Following the purchase, the director now directly owns 7,253 shares in the company, valued at approximately $558,553.53. The disclosure for this purchase can be found here. Insiders sold a total of 240,203 shares of company stock valued at $18,612,224 in the last ninety days. 3.00% of the stock is owned by corporate 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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