Mitsubishi UFJ Trust & Banking Corp Acquires 6,469 Shares of Aflac Incorporated (AFL)
Mitsubishi UFJ Trust & Banking Corp raised its position in Aflac Incorporated (NYSE:AFL) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 839,699 shares of the financial services provider’s stock after buying an additional 6,469 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.21% of Aflac worth $65,228,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of AFL. CWM LLC raised its position in shares of Aflac by 2.1% in the second quarter. CWM LLC now owns 1,430 shares of the financial services provider’s stock worth $111,000 after buying an additional 30 shares during the period. Harfst & Associates Inc. purchased a new position in Aflac during the first quarter valued at about $128,000. Washington Trust Bank raised 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 valued at $132,000 after buying an additional 16 shares during the last quarter. ClariVest Asset Management LLC purchased a new position in Aflac during the second quarter valued at about $150,000. Finally, Sit Investment Associates Inc. raised 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 valued at $166,000 after buying an additional 37 shares during the last quarter. Institutional investors own 65.63% of the company’s stock.
Aflac Incorporated (AFL) opened at 81.71 on Wednesday. The firm has a market cap of $32.29 billion, a price-to-earnings ratio of 12.35 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 is $79.41 and its 200 day moving average is $75.36.
Aflac (NYSE:AFL) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.20. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates 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 period last year, the firm posted $1.65 EPS. On average, analysts predict that Aflac Incorporated will post $6.69 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Wednesday, August 23rd will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Monday, August 21st. Aflac’s payout ratio is currently 25.94%.
Aflac declared that its Board of Directors has approved a stock buyback plan on Tuesday, August 8th that authorizes the company to repurchase 40,000,000 shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
Several research firms recently issued reports on AFL. ValuEngine upgraded shares of Aflac from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. BidaskClub lowered shares of Aflac from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Barclays PLC boosted their target price on shares of Aflac from $73.00 to $79.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. FBR & Co restated a “market perform” rating and issued a $80.00 target price (up previously from $68.00) on shares of Aflac in a report on Wednesday, July 12th. Finally, Royal Bank Of Canada restated a “sell” rating and issued a $66.00 target price on shares of Aflac in a report on Wednesday, July 12th. Three equities 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 stock. The company currently has an average rating of “Hold” and an average target price of $76.50.
In related news, insider Paul S. Amos II sold 222,889 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $77.40, for a total value of $17,251,608.60. Following the completion of the transaction, the insider now directly owns 329,540 shares of the company’s stock, valued at approximately $25,506,396. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karole Lloyd acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The stock was bought at an average cost of $77.01 per share, with a total value of $77,010.00. Following the completion of the transaction, the director now directly owns 7,253 shares in the company, valued at $558,553.53. The disclosure for this purchase can be found here. Insiders sold a total of 240,203 shares of company stock valued at $18,612,224 over 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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