Great Lakes Advisors LLC Sells 167 Shares of Aflac Incorporated (AFL)
Great Lakes Advisors LLC decreased its position in Aflac Incorporated (NYSE:AFL) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,762 shares of the financial services provider’s stock after selling 167 shares during the period. Great Lakes Advisors LLC’s holdings in Aflac were worth $2,467,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of AFL. State of Alaska Department of Revenue purchased a new stake in Aflac during the first quarter worth $446,000. Harwood Advisory Group LLC increased its stake in Aflac by 8.6% in the first quarter. Harwood Advisory Group LLC now owns 26,542 shares of the financial services provider’s stock worth $1,922,000 after buying an additional 2,093 shares during the period. ProShare Advisors LLC increased its stake in Aflac by 6.9% in the first quarter. ProShare Advisors LLC now owns 913,375 shares of the financial services provider’s stock worth $66,147,000 after buying an additional 59,127 shares during the period. Duncker Streett & Co. Inc. increased its stake in Aflac by 6.9% in the first quarter. Duncker Streett & Co. Inc. now owns 10,774 shares of the financial services provider’s stock worth $780,000 after buying an additional 700 shares during the period. Finally, Penobscot Investment Management Company Inc. increased its stake in Aflac by 43.7% in the first quarter. Penobscot Investment Management Company Inc. now owns 8,320 shares of the financial services provider’s stock worth $603,000 after buying an additional 2,530 shares during the period. 65.63% of the stock is owned by institutional investors.
Aflac Incorporated (NYSE:AFL) opened at 80.80 on Tuesday. The firm has a market cap of $31.93 billion, a price-to-earnings ratio of 12.22 and a beta of 0.99. Aflac Incorporated has a one year low of $66.50 and a one year high of $81.89. The stock’s 50 day moving average price is $79.41 and its 200-day moving average price is $75.36.
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. The company had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.48 billion. Aflac had a net margin of 11.98% and a return on equity of 13.09%. Aflac’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.65 EPS. Analysts forecast that Aflac Incorporated will post $6.69 earnings per share for the current year.
Aflac declared that its board has authorized a share repurchase plan on Tuesday, August 8th that allows the company to repurchase 40,000,000 shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Wednesday, August 23rd will be issued a $0.43 dividend. The ex-dividend date is Monday, August 21st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.13%. Aflac’s dividend payout ratio (DPR) is presently 25.94%.
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A number of equities research analysts have recently weighed in on AFL shares. Royal Bank Of Canada reaffirmed an “underperform” rating and set a $66.00 price target (up from $62.00) on shares of Aflac in a research note on Monday, May 1st. Zacks Investment Research downgraded Aflac from a “buy” rating to a “hold” rating in a research note on Wednesday, May 31st. Barclays PLC raised their price target on Aflac from $71.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, July 3rd. Bank of America Corporation raised Aflac from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $75.00 to $78.00 in a research note on Tuesday, July 4th. Finally, FBR & Co reaffirmed a “market perform” rating and set a $80.00 price target (up from $68.00) on shares of Aflac in a research note on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. Aflac currently has a consensus rating of “Hold” and an average price target of $76.50.
In related news, President Kriss Cloninger III sold 3,500 shares of Aflac 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 transaction, the president now directly owns 253,196 shares in the company, valued at approximately $20,524,067.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Teresa L. White sold 11,314 shares of Aflac stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $78.01, for a total transaction of $882,605.14. Following the completion of the transaction, the insider now owns 26,847 shares of the company’s stock, valued at $2,094,334.47. The disclosure for this sale can be found here. Insiders sold a total of 240,203 shares of company stock worth $18,612,224 in the last ninety days. 3.00% of the stock is currently owned by 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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