World Asset Management Inc decreased its position in shares of Aflac Incorporated (NYSE:AFL) by 12.5% during the second quarter, Holdings Channel reports. The firm owned 40,442 shares of the financial services provider’s stock after selling 5,779 shares during the period. World Asset Management Inc’s holdings in Aflac were worth $3,142,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bollard Group LLC boosted 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. Washington Trust Bank boosted 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. Whittier Trust Co. of Nevada Inc. boosted its stake 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 valued at $564,000 after buying an additional 27 shares during the last quarter. CWM LLC boosted its stake in Aflac by 2.1% in the second quarter. CWM LLC now owns 1,430 shares of the financial services provider’s stock valued at $111,000 after buying an additional 30 shares during the last quarter. Finally, BKD Wealth Advisors LLC boosted its stake in Aflac by 0.9% in the first quarter. BKD Wealth Advisors LLC now owns 3,692 shares of the financial services provider’s stock valued at $267,000 after buying an additional 34 shares during the last quarter. 64.64% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Aflac Incorporated (NYSE:AFL) opened at 80.75 on Friday. The stock has a market capitalization of $31.91 billion, a price-to-earnings ratio of 12.21 and a beta of 0.99. The firm has a 50-day moving average of $78.72 and a 200 day moving average of $74.57. Aflac Incorporated has a one year low of $66.50 and a one year high of $81.80.

Aflac (NYSE:AFL) last issued its earnings results on Thursday, July 27th. The financial services provider reported $1.83 EPS for the quarter, topping 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 business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same period in the prior year, the firm earned $1.65 EPS. The company’s revenue for the quarter was down .2% compared to the same quarter last year. On average, equities research analysts predict that Aflac Incorporated will post $6.67 EPS for the current year.

Aflac declared that its board has initiated a share buyback plan on Tuesday, August 8th that allows the company to buyback 40,000,000 outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Wednesday, August 23rd will be paid a dividend of $0.43 per share. The ex-dividend date is Monday, August 21st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.13%. Aflac’s dividend payout ratio is presently 25.94%.

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Several analysts recently issued reports on the company. Vetr raised Aflac from a “hold” rating to a “buy” rating and set a $77.50 target price on the stock in a research note on Tuesday, April 18th. Barclays PLC raised their target price on Aflac from $73.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Friday. ValuEngine raised Aflac from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. BidaskClub cut Aflac from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Finally, Zacks Investment Research raised Aflac from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Monday, April 17th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $76.50.

In other news, President Kriss Cloninger III sold 2,500 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were 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 in the company, valued at $18,780,727.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Teresa L. White sold 11,314 shares of the stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $78.01, for a total transaction of $882,605.14. Following the transaction, the insider now owns 26,847 shares in the company, valued at $2,094,334.47. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 240,203 shares of company stock worth $18,612,224. Insiders own 3.00% of the company’s stock.

About Aflac

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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Institutional Ownership by Quarter for Aflac (NYSE:AFL)

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