Carret Asset Management LLC Has $428,000 Position in Aflac Incorporated (AFL)
Carret Asset Management LLC continued to hold its stake in shares of Aflac Incorporated (NYSE:AFL) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,508 shares of the financial services provider’s stock at the end of the second quarter. Carret Asset Management LLC’s holdings in Aflac were worth $428,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Keybank National Association OH lifted its position in Aflac by 242.1% in the second quarter. Keybank National Association OH now owns 128,219 shares of the financial services provider’s stock worth $9,960,000 after purchasing an additional 90,741 shares during the period. New Amsterdam Partners LLC NY acquired a new position in Aflac during the second quarter worth $531,000. Delta Lloyd Asset Management N.V. acquired a new position in Aflac during the second quarter worth $3,306,000. Coho Partners Ltd. raised its stake in Aflac by 85.3% during the second quarter. Coho Partners Ltd. now owns 2,186,934 shares of the financial services provider’s stock worth $169,881,000 after acquiring an additional 1,006,477 shares in the last quarter. Finally, Aviance Capital Partners LLC raised its stake in Aflac by 7.2% during the first quarter. Aviance Capital Partners LLC now owns 23,601 shares of the financial services provider’s stock worth $1,709,000 after acquiring an additional 1,577 shares in the last quarter. 65.63% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Elizabeth J. Hudson sold 1,279 shares of the business’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $83.76, for a total transaction of $107,129.04. Following the completion of the transaction, the director now owns 11,075 shares of the company’s stock, valued at approximately $927,642. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider James Todd Daniels sold 620 shares of the business’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $81.49, for a total value of $50,523.80. Following the transaction, the insider now directly owns 15,454 shares of the company’s stock, valued at approximately $1,259,346.46. The disclosure for this sale can be found here. Insiders have sold a total of 31,899 shares of company stock valued at $2,662,483 in the last three months. 3.00% of the stock is owned by insiders.
Several research analysts have issued reports on the company. Zacks Investment Research upgraded Aflac from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research note on Thursday, September 21st. FBR & Co reiterated a “market perform” rating and set a $80.00 price objective (up from $68.00) on shares of Aflac in a research note on Wednesday, July 12th. UBS AG reiterated an “overweight” rating on shares of Aflac in a research note on Thursday, August 24th. Barclays PLC increased their price objective on Aflac from $71.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, July 3rd. Finally, Royal Bank Of Canada reiterated a “sell” rating and set a $66.00 price objective on shares of Aflac in a research note on Wednesday, July 12th. Five analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $78.13.
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Shares of Aflac Incorporated (AFL) traded down 0.27% during mid-day trading on Friday, hitting $82.27. The stock had a trading volume of 877,338 shares. The company has a market capitalization of $32.52 billion, a P/E ratio of 12.44 and a beta of 0.96. The stock’s 50-day moving average price is $82.07 and its 200 day moving average price is $77.61. Aflac Incorporated has a 1-year low of $66.50 and a 1-year high of $84.51.
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. Aflac had a return on equity of 13.09% and a net margin of 11.98%. 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 previous year, the firm earned $1.65 EPS. Aflac’s revenue was down .2% on a year-over-year basis. On average, analysts predict that Aflac Incorporated will post $6.69 EPS for the current fiscal year.
Aflac declared that its board has approved 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 buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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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