State of New Jersey Common Pension Fund D Has $38,063,000 Position in Aflac Incorporated (AFL)
State of New Jersey Common Pension Fund D continued to hold its stake in shares of Aflac Incorporated (NYSE:AFL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 490,000 shares of the financial services provider’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in Aflac were worth $38,063,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the stock. CWM LLC raised its stake in Aflac by 7.7% in the first quarter. CWM LLC now owns 1,400 shares of the financial services provider’s stock valued at $101,000 after buying an additional 100 shares during the last quarter. Harfst & Associates Inc. acquired a new stake in Aflac during the first quarter valued at about $128,000. Washington Trust Bank raised its stake 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. Sit Investment Associates Inc. raised its stake 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. Finally, Bollard Group LLC raised its stake in Aflac by 0.6% in the first quarter. Bollard Group LLC now owns 2,325 shares of the financial services provider’s stock valued at $168,000 after buying an additional 14 shares during the last quarter. 64.64% of the stock is owned by institutional investors.
Aflac Incorporated (AFL) opened at 80.75 on Friday. The stock’s 50 day moving average is $78.72 and its 200 day moving average is $74.57. The company has a market cap of $31.91 billion, a P/E ratio of 12.21 and a beta of 0.99. Aflac Incorporated has a 12-month low of $66.50 and a 12-month high of $81.80.
Aflac (NYSE:AFL) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.20. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Aflac had a net margin of 11.98% and a return on equity of 13.09%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the company posted $1.65 earnings per share. On average, equities analysts forecast that Aflac Incorporated will post $6.67 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 23rd will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Monday, August 21st. Aflac’s dividend payout ratio is currently 25.94%.
Aflac announced that its Board of Directors has approved a share repurchase plan on Tuesday, August 8th that permits the company to repurchase 40,000,000 shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
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Several research firms recently issued reports on AFL. Vetr raised shares of Aflac from a “hold” rating to a “buy” rating and set a $77.50 price objective for the company in a research note on Tuesday, April 18th. Barclays PLC lifted their price objective on shares of Aflac from $73.00 to $79.00 and gave the company an “equal weight” rating in a research note on Friday. ValuEngine raised shares of Aflac from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. BidaskClub lowered shares of Aflac from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Finally, Zacks Investment Research raised shares of Aflac from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Monday, April 17th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Aflac currently has an average rating of “Hold” and an average price target of $76.50.
In other Aflac news, President Kriss Cloninger III sold 3,500 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $81.06, for a total value of $283,710.00. Following the completion of the sale, the president now owns 253,196 shares in the company, valued at $20,524,067.76. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Karole Lloyd purchased 1,000 shares of the business’s stock in a transaction on Monday, June 12th. The stock was purchased at an average price of $77.01 per share, with a total value of $77,010.00. Following the purchase, the director now owns 7,253 shares of the company’s stock, valued at $558,553.53. The disclosure for this purchase can be found here. In the last quarter, insiders sold 240,203 shares of company stock valued at $18,612,224. Corporate insiders own 3.00% of the company’s stock.
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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