Cullinan Associates Inc. Boosts Stock Holdings in AFLAC Incorporated (NYSE:AFL)
Cullinan Associates Inc. raised its position in shares of AFLAC Incorporated (NYSE:AFL) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 199,000 shares of the financial services provider’s stock after purchasing an additional 1,500 shares during the period. Cullinan Associates Inc.’s holdings in AFLAC were worth $10,527,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Arjuna Capital lifted its position in shares of AFLAC by 23.9% during the 2nd quarter. Arjuna Capital now owns 51,996 shares of the financial services provider’s stock valued at $2,850,000 after buying an additional 10,017 shares during the last quarter. Pictet Asset Management Ltd. increased its holdings in AFLAC by 6.2% in the 2nd quarter. Pictet Asset Management Ltd. now owns 1,223,834 shares of the financial services provider’s stock worth $67,078,000 after acquiring an additional 71,885 shares during the last quarter. AXA raised its stake in AFLAC by 164.1% in the 2nd quarter. AXA now owns 132,895 shares of the financial services provider’s stock valued at $7,284,000 after acquiring an additional 82,568 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in AFLAC in the 2nd quarter valued at about $1,103,000. Finally, Asset Management One Co. Ltd. lifted its holdings in AFLAC by 8.6% during the second quarter. Asset Management One Co. Ltd. now owns 392,564 shares of the financial services provider’s stock valued at $21,518,000 after purchasing an additional 31,238 shares during the last quarter. 62.98% of the stock is owned by institutional investors and hedge funds.
AFL has been the subject of a number of research reports. UBS Group increased their target price on shares of AFLAC from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Bank of America set a $55.00 price target on shares of AFLAC and gave the company a “hold” rating in a research report on Friday, October 25th. Raymond James dropped their price target on shares of AFLAC from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. downgraded shares of AFLAC from an “overweight” rating to a “neutral” rating in a report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $53.82.
AFLAC (NYSE:AFL) last issued its earnings results on Thursday, October 24th. The financial services provider reported $1.16 EPS for the quarter, topping the consensus estimate of $1.07 by $0.09. AFLAC had a return on equity of 12.45% and a net margin of 13.96%. The business had revenue of $5.54 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter last year, the company earned $1.03 EPS. The firm’s revenue was down .7% compared to the same quarter last year. Analysts forecast that AFLAC Incorporated will post 4.42 earnings per share for the current year.
In related news, EVP Audrey B. Tillman sold 24,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $51.81, for a total transaction of $1,243,440.00. Following the completion of the transaction, the executive vice president now owns 123,414 shares of the company’s stock, valued at $6,394,079.34. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Richard Williams, Jr. sold 1,900 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $52.99, for a total transaction of $100,681.00. Corporate insiders own 1.30% of the company’s stock.
AFLAC Company Profile
Aflac Incorporated, through its subsidiaries, provides voluntary supplemental health and life insurance products. It operates through two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers voluntary supplemental insurance products, including cancer plans, general medical indemnity plans, medical/sickness riders, care plans, living benefit life plans, ordinary life insurance plans, and annuities in Japan.
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