Reliance Trust Co. of Delaware Increases Stake in Aflac Incorporated (AFL)
Reliance Trust Co. of Delaware increased its position in Aflac Incorporated (NYSE:AFL) by 137.0% during the second quarter, Holdings Channel reports. The institutional investor owned 19,952 shares of the financial services provider’s stock after buying an additional 11,533 shares during the period. Reliance Trust Co. of Delaware’s holdings in Aflac were worth $1,549,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in AFL. 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. Bollard Group LLC boosted its position in Aflac by 0.6% in the first quarter. Bollard Group LLC now owns 2,325 shares of the financial services provider’s stock worth $168,000 after buying an additional 14 shares in the last quarter. 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. Whittier Trust Co. of Nevada Inc. boosted its position in Aflac by 0.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 7,259 shares of the financial services provider’s stock worth $564,000 after buying an additional 27 shares in the last quarter. Finally, CWM LLC boosted its position in 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 in the last quarter. 64.64% of the stock is owned by institutional investors and hedge funds.
Shares of Aflac Incorporated (AFL) opened at 81.77 on Thursday. The stock has a market cap of $32.38 billion, a PE ratio of 12.36 and a beta of 0.99. The stock has a 50 day moving average of $78.54 and a 200-day moving average of $74.44. Aflac Incorporated has a 52 week low of $66.50 and a 52 week high of $81.80.
Aflac (NYSE:AFL) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.83 EPS for the quarter, topping the consensus estimate of $1.63 by $0.20. The company 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 quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.65 earnings per share. Equities research analysts predict that Aflac Incorporated will post $6.67 earnings per share for the current fiscal year.
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 paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Monday, August 21st. Aflac’s payout ratio is 25.94%.
Aflac announced that its Board of Directors has initiated a share buyback plan on Tuesday, August 8th that authorizes the company to buyback 40,000,000 shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
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A number of research firms have commented on AFL. Vetr raised shares of Aflac from a “hold” rating to a “buy” rating and set a $77.50 price target for the company in a research note on Tuesday, April 18th. BidaskClub cut shares of Aflac from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. ValuEngine raised shares of Aflac from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised shares of Aflac from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research note on Monday, April 17th. Finally, FBR & Co reissued a “market perform” rating and issued a $80.00 price target (up previously from $68.00) on shares of Aflac in a research note on Wednesday, July 12th. 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. Aflac has an average rating of “Hold” and an average target price of $75.95.
In other news, Director Karole Lloyd acquired 1,000 shares of the company’s stock in a transaction 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 purchase, the director now directly owns 7,253 shares of the company’s stock, valued at $558,553.53. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Kriss Cloninger III sold 2,500 shares of Aflac stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $77.72, for a total transaction of $194,300.00. Following the transaction, the president now directly owns 241,646 shares of the company’s stock, valued at $18,780,727.12. The disclosure for this sale can be found here. Insiders have sold 240,203 shares of company stock valued at $18,612,224 over the last ninety days. 3.00% of the stock is 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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