Commerce Bank Has $24.07 Million Stake in Aflac Incorporated (AFL)
Commerce Bank boosted its position in Aflac Incorporated (NYSE:AFL) by 288.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 309,822 shares of the financial services provider’s stock after buying an additional 229,971 shares during the period. Commerce Bank owned about 0.08% of Aflac worth $24,067,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in AFL. Atwood & Palmer Inc. boosted its position in shares of Aflac by 320.5% in the second quarter. Atwood & Palmer Inc. now owns 1,312 shares of the financial services provider’s stock worth $102,000 after buying an additional 1,000 shares during the last quarter. CWM LLC raised its position in shares of Aflac by 2.1% in the second quarter. CWM LLC now owns 1,430 shares of the financial services provider’s stock worth $111,000 after buying an additional 30 shares during the period. Capital Analysts LLC acquired a new position in shares of Aflac during the second quarter worth $131,000. Washington Trust Bank raised its position 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 during the period. Finally, Harfst & Associates Inc. acquired a new position in shares of Aflac during the first quarter worth $128,000. Institutional investors own 65.63% of the company’s stock.
Aflac Incorporated (AFL) opened at 82.55 on Friday. The company has a market capitalization of $32.63 billion, a P/E ratio of 12.48 and a beta of 0.99. Aflac Incorporated has a 1-year low of $66.50 and a 1-year high of $82.70. The firm has a 50-day moving average price of $79.86 and a 200 day moving average price of $75.71.
Aflac (NYSE:AFL) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.83 EPS for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.20. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Aflac had a return on equity of 13.09% and a net margin of 11.98%. The business’s revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.65 earnings per share. On average, equities analysts predict that Aflac Incorporated will post $6.69 EPS for the current year.
Aflac announced that its Board of Directors has approved a stock buyback program on Tuesday, August 8th that permits the company to buyback 40,000,000 shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically 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 given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Monday, August 21st. Aflac’s dividend payout ratio (DPR) is presently 25.94%.
A number of brokerages have weighed in on AFL. BidaskClub lowered 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. Barclays PLC boosted their target price on Aflac from $73.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. FBR & Co reissued 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. Finally, Royal Bank Of Canada reissued a “sell” rating and issued a $66.00 target price on shares of Aflac in a research report on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $76.50.
In other news, insider Paul S. Amos II sold 222,889 shares of the business’s stock in a transaction that occurred 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 directly owns 329,540 shares in the company, valued at $25,506,396. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Kriss Cloninger III sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $81.06, for a total value of $283,710.00. Following the completion of the sale, the president now owns 253,196 shares of the company’s stock, valued at $20,524,067.76. The disclosure for this sale can be found here. Insiders sold 240,203 shares of company stock valued at $18,612,224 over the last 90 days. Company 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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