Cookson Peirce & Co. Inc. Raises Stake in Aflac Incorporated (AFL)
Cookson Peirce & Co. Inc. increased its stake in shares of Aflac Incorporated (NYSE:AFL) by 3.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,915 shares of the financial services provider’s stock after buying an additional 260 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Aflac were worth $693,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Atwood & Palmer Inc. grew its holdings in Aflac by 320.5% during 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 in the last quarter. CWM LLC grew its holdings in Aflac by 2.1% during 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 in the last quarter. Harfst & Associates Inc. bought a new stake in Aflac during the first quarter worth $128,000. Capital Analysts LLC bought a new stake in Aflac during the second quarter worth $131,000. Finally, Washington Trust Bank grew its holdings in Aflac by 0.9% during 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. Institutional investors and hedge funds own 65.60% of the company’s stock.
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 value of $107,129.04. Following the completion of the transaction, the director now owns 11,075 shares in the company, valued at $927,642. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the transaction, the insider now 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 sold 31,899 shares of company stock valued at $2,662,483 in the last 90 days. Company insiders own 3.00% of the company’s stock.
AFL has been the subject of several recent research reports. UBS AG reiterated an “overweight” rating on shares of Aflac in a report on Thursday, August 24th. Citigroup Inc. downgraded Aflac from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $82.00 to $77.00 in a report on Tuesday, September 26th. Zacks Investment Research downgraded Aflac from a “buy” rating to a “hold” rating in a report on Monday, September 25th. Barclays PLC upped their price target on Aflac from $71.00 to $73.00 and gave the stock an “equal weight” rating in a report on Monday, July 3rd. Finally, Bank of America Corporation downgraded Aflac from a “neutral” rating to an “underperform” rating in a report on Friday, September 8th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $78.86.
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Shares of Aflac Incorporated (NYSE AFL) traded down 0.01% on Monday, reaching $84.00. The company’s stock had a trading volume of 224,957 shares. The company has a market cap of $33.20 billion, a price-to-earnings ratio of 12.70 and a beta of 0.96. The stock has a 50-day moving average of $82.63 and a 200 day moving average of $78.12. Aflac Incorporated has a 52-week low of $66.50 and a 52-week high of $84.68.
Aflac (NYSE:AFL) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.20. Aflac had a return on equity of 13.09% and a net margin of 11.98%. The firm 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 business earned $1.65 earnings per share. The company’s revenue was down .2% on a year-over-year basis. On average, equities research analysts forecast that Aflac Incorporated will post $6.69 earnings per share 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 repurchase 40,000,000 shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
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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