IFP Advisors Inc Purchases 2 Shares of Aflac Incorporated (AFL)
IFP Advisors Inc boosted its stake in shares of Aflac Incorporated (NYSE:AFL) by 0.0% during the second quarter, Holdings Channel reports. The firm owned 9,158 shares of the financial services provider’s stock after buying an additional 2 shares during the period. IFP Advisors Inc’s holdings in Aflac were worth $711,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Aflac by 3.4% in the first quarter. Vanguard Group Inc. now owns 31,980,927 shares of the financial services provider’s stock valued at $2,316,059,000 after buying an additional 1,048,415 shares during the period. BlackRock Inc. increased its stake in Aflac by 1,750.9% in the first quarter. BlackRock Inc. now owns 23,849,668 shares of the financial services provider’s stock valued at $1,727,193,000 after buying an additional 22,561,116 shares during the period. State Street Corp increased its stake in Aflac by 2.4% in the first quarter. State Street Corp now owns 21,858,806 shares of the financial services provider’s stock valued at $1,583,023,000 after buying an additional 505,060 shares during the period. AQR Capital Management LLC increased its stake in Aflac by 4.1% in the first quarter. AQR Capital Management LLC now owns 4,390,534 shares of the financial services provider’s stock valued at $317,962,000 after buying an additional 173,236 shares during the period. Finally, Geode Capital Management LLC increased its stake in Aflac by 8.4% in the first quarter. Geode Capital Management LLC now owns 4,076,593 shares of the financial services provider’s stock valued at $294,824,000 after buying an additional 314,506 shares during the period. Institutional investors and hedge funds own 64.59% of the company’s stock.
Aflac Incorporated (AFL) opened at 81.25 on Tuesday. The firm has a market capitalization of $32.11 billion, a P/E ratio of 12.28 and a beta of 0.99. The company’s 50-day moving average price is $78.83 and its 200-day moving average price is $74.71. Aflac Incorporated has a 1-year low of $66.50 and a 1-year high of $81.80.
Aflac (NYSE:AFL) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.20. The business had revenue of $5.43 billion for 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% on a year-over-year basis. During the same period in the previous year, the firm posted $1.65 EPS. Equities research analysts expect that Aflac Incorporated will post $6.67 earnings per share for the current fiscal year.
Aflac declared that its Board of Directors has authorized a share repurchase program on Tuesday, August 8th that permits the company to repurchase 40,000,000 shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 23rd will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, August 21st. This represents a $1.72 annualized dividend and a yield of 2.12%. Aflac’s payout ratio is 25.94%.
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AFL has been the subject of several analyst reports. Zacks Investment Research cut Aflac from a “buy” rating to a “hold” rating in a report on Wednesday, May 31st. Bank of America Corporation raised Aflac from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $75.00 to $78.00 in a report on Tuesday, July 4th. BidaskClub cut Aflac from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. ValuEngine raised Aflac from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, Raymond James Financial, Inc. raised Aflac from a “market perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Tuesday, April 18th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. Aflac has an average rating of “Hold” and an average target price of $76.50.
In other Aflac news, insider Paul S. Amos II sold 222,889 shares of Aflac stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $77.40, for a total transaction of $17,251,608.60. Following the sale, the insider now directly owns 329,540 shares of the company’s stock, valued at approximately $25,506,396. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Karole Lloyd acquired 1,000 shares of the business’s stock in a transaction on Monday, June 12th. The shares were purchased at an average cost of $77.01 per share, for a total transaction of $77,010.00. Following the completion of the transaction, the director now owns 7,253 shares in the company, valued at approximately $558,553.53. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 240,203 shares of company stock worth $18,612,224. 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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