Investors Asset Management of Georgia Inc. GA ADV Continues to Hold Position in Aflac Incorporated (AFL)
Investors Asset Management of Georgia Inc. GA ADV maintained its stake in Aflac Incorporated (NYSE:AFL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,200 shares of the financial services provider’s stock at the end of the second quarter. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Aflac were worth $559,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the stock. CWM LLC boosted its position in Aflac by 7.7% in the first quarter. CWM LLC now owns 1,400 shares of the financial services provider’s stock worth $101,000 after buying an additional 100 shares in the last quarter. Harfst & Associates Inc. bought a new position in Aflac during the first quarter worth about $128,000. Washington Trust Bank boosted its position in 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 in the last quarter. Quadrant Capital Group LLC boosted its position in Aflac by 0.3% in the first quarter. Quadrant Capital Group LLC now owns 2,391 shares of the financial services provider’s stock worth $166,000 after buying an additional 7 shares in the last quarter. Finally, Sit Investment Associates Inc. boosted its position in Aflac by 1.8% in the second quarter. Sit Investment Associates Inc. now owns 2,137 shares of the financial services provider’s stock worth $166,000 after buying an additional 37 shares in the last quarter. 64.64% of the stock is owned by institutional investors.
Shares of Aflac Incorporated (NYSE:AFL) opened at 81.77 on Thursday. The company’s 50-day moving average is $78.54 and its 200 day moving average is $74.44. Aflac Incorporated has a 52-week low of $66.50 and a 52-week high of $81.80. The firm has a market cap of $32.38 billion, a price-to-earnings ratio of 12.36 and a beta of 0.99.
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 Zacks’ consensus estimate of $1.63 by $0.20. Aflac had a net margin of 11.98% and a return on equity of 13.09%. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same period in the prior year, the company posted $1.65 EPS. The business’s revenue for the quarter was down .2% on a year-over-year basis. On average, analysts expect that Aflac Incorporated will post $6.67 earnings per share for the current fiscal year.
Aflac declared that its board has authorized a share buyback program on Tuesday, August 8th that authorizes the company to buyback 40,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Wednesday, August 23rd will be paid a dividend of $0.43 per share. The ex-dividend date is Monday, August 21st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.10%. Aflac’s dividend payout ratio (DPR) is presently 25.94%.
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A number of research analysts have issued reports on AFL shares. Zacks Investment Research cut shares of Aflac from a “buy” rating to a “hold” rating in a report on Wednesday, May 31st. Bank of America Corporation raised shares of 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 report on Tuesday, July 4th. BidaskClub cut shares of Aflac from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. ValuEngine raised shares of Aflac from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, Raymond James Financial, Inc. raised shares of Aflac from a “market perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Tuesday, April 18th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $75.95.
In other news, President Kriss Cloninger III sold 3,500 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $81.06, for a total transaction of $283,710.00. Following the transaction, the president now directly owns 253,196 shares of the company’s stock, valued at approximately $20,524,067.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul S. Amos II sold 222,889 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 329,540 shares in the company, valued at $25,506,396. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 240,203 shares of company stock worth $18,612,224. Corporate 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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