Toronto Dominion Bank Raises Holdings in Aflac Incorporated (AFL)
Toronto Dominion Bank lifted its holdings in shares of Aflac Incorporated (NYSE:AFL) by 11.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 151,088 shares of the financial services provider’s stock after acquiring an additional 15,495 shares during the period. Toronto Dominion Bank’s holdings in Aflac were worth $12,296,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. AJO LP increased its position in shares of Aflac by 157.8% during the 2nd quarter. AJO LP now owns 3,483,353 shares of the financial services provider’s stock worth $270,587,000 after purchasing an additional 2,132,414 shares in the last quarter. Balyasny Asset Management LLC grew its position in shares of Aflac by 1,351.2% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,311,615 shares of the financial services provider’s stock worth $101,886,000 after buying an additional 1,221,231 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Aflac by 392.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,303,597 shares of the financial services provider’s stock worth $106,100,000 after buying an additional 1,038,628 shares during the period. Coho Partners Ltd. grew its position in shares of Aflac by 85.3% during the 2nd quarter. Coho Partners Ltd. now owns 2,186,934 shares of the financial services provider’s stock worth $169,881,000 after buying an additional 1,006,477 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its stake in Aflac by 108.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,870,142 shares of the financial services provider’s stock worth $145,273,000 after acquiring an additional 973,604 shares during the last quarter. 66.69% of the stock is owned by institutional investors.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Aflac from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Thursday, September 21st. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Aflac in a report on Wednesday, October 18th. They issued a “neutral” rating and a $88.00 price objective on the stock. UBS AG reiterated an “overweight” rating on shares of Aflac in a report on Thursday, August 24th. B. Riley reissued a “neutral” rating on shares of Aflac in a research report on Monday, November 6th. Finally, Bank of America Corporation cut shares of Aflac from a “neutral” rating to an “underperform” rating in a research report on Friday, September 8th. Four 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 company. The company has an average rating of “Hold” and an average target price of $79.63.
Aflac Incorporated (NYSE:AFL) traded up $0.17 on Wednesday, hitting $84.44. The stock had a trading volume of 211,009 shares, compared to its average volume of 1,789,780. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.24. Aflac Incorporated has a 52-week low of $66.50 and a 52-week high of $85.70. The stock has a market capitalization of $33,181.83, a PE ratio of 12.52, a PEG ratio of 2.50 and a beta of 1.00.
Aflac (NYSE:AFL) last issued its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $1.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.07. Aflac had a return on equity of 12.87% and a net margin of 12.49%. The company had revenue of $5.51 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same period in the prior year, the firm earned $1.74 earnings per share. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. analysts forecast that Aflac Incorporated will post 6.76 earnings per share for the current fiscal year.
Aflac declared that its Board of Directors has initiated a share buyback plan on Tuesday, August 8th that authorizes the company to repurchase 40,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be issued a $0.45 dividend. This is an increase from Aflac’s previous quarterly dividend of $0.43. The ex-dividend date is Tuesday, November 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.13%. Aflac’s dividend payout ratio is currently 24.93%.
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In related news, insider James Todd Daniels sold 620 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $81.49, for a total transaction of $50,523.80. Following the completion of the sale, the insider now owns 15,454 shares in the company, valued at $1,259,346.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Kriss Cloninger III sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $83.83, for a total value of $2,095,750.00. Following the transaction, the president now directly owns 298,646 shares of the company’s stock, valued at $25,035,494.18. The disclosure for this sale can be found here. In the last three months, insiders sold 28,709 shares of company stock worth $2,404,680. 3.00% of the stock is owned by corporate 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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