Investors Sell Aflac Incorporated (AFL) on Strength (AFL)
Traders sold shares of Aflac Incorporated (NYSE:AFL) on strength during trading on Monday. $23.52 million flowed into the stock on the tick-up and $88.94 million flowed out of the stock on the tick-down, for a money net flow of $65.42 million out of the stock. Of all companies tracked, Aflac had the 10th highest net out-flow for the day. Aflac traded up $0.58 for the day and closed at $81.97
AFL has been the topic of several analyst reports. Zacks Investment Research lowered shares of Aflac from a “buy” rating to a “hold” rating in a research report on Monday, September 25th. Citigroup Inc. downgraded shares of Aflac from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $82.00 to $77.00 in a research report on Tuesday, September 26th. Wells Fargo & Company reiterated a “hold” rating and issued a $82.00 price objective on shares of Aflac in a research report on Thursday. ValuEngine raised shares of Aflac from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Finally, Barclays PLC increased their target price on shares of Aflac from $73.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Friday, August 11th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. Aflac presently has a consensus rating of “Hold” and a consensus price target of $78.13.
The stock has a 50 day moving average price of $81.90 and a 200 day moving average price of $77.40. The stock has a market cap of $32.40 billion, a PE ratio of 12.39 and a beta of 0.96.
Aflac (NYSE:AFL) last issued its earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same period last year, the company posted $1.65 earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year. On average, equities research analysts predict that Aflac Incorporated will post $6.69 EPS for the current fiscal year.
Aflac announced that its board has authorized a share repurchase program on Tuesday, August 8th that permits the company to repurchase 40,000,000 outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In other Aflac news, Director Douglas Wayne Johnson sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $83.58, for a total transaction of $125,370.00. Following the sale, the director now directly owns 13,733 shares in the company, valued at $1,147,804.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Kriss Cloninger III sold 3,500 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $81.06, for a total value of $283,710.00. Following the sale, the president now owns 253,196 shares in the company, valued at $20,524,067.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,279 shares of company stock worth $2,611,959. Insiders own 3.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Atwood & Palmer Inc. boosted its position in shares of Aflac by 320.5% in the 2nd 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 stake in Aflac by 2.1% in the 2nd quarter. CWM LLC now owns 1,430 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 30 shares during the last quarter. Capital Analysts LLC acquired a new stake in Aflac in the 2nd quarter valued at about $131,000. Washington Trust Bank grew its stake in Aflac by 0.9% in the 2nd quarter. Washington Trust Bank now owns 1,704 shares of the financial services provider’s stock valued at $132,000 after acquiring an additional 16 shares during the last quarter. Finally, Harfst & Associates Inc. acquired a new stake in Aflac in the 1st quarter valued at about $128,000. Institutional investors and hedge funds own 65.63% of the company’s stock.
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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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