Investec Asset Management LTD cut its stake in shares of Aflac Incorporated (NYSE:AFL) by 0.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,151,303 shares of the financial services provider’s stock after selling 7,087 shares during the quarter. Investec Asset Management LTD owned about 0.54% of Aflac worth $167,113,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of AFL. BlackRock Inc. increased its holdings in shares of Aflac by 1,750.9% during the first quarter. BlackRock Inc. now owns 23,849,668 shares of the financial services provider’s stock valued at $1,727,193,000 after acquiring an additional 22,561,116 shares in the last quarter. AJO LP increased its holdings in shares of Aflac by 157.8% during the second quarter. AJO LP now owns 3,483,353 shares of the financial services provider’s stock valued at $270,587,000 after acquiring an additional 2,132,414 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Aflac by 3.4% during the first quarter. Vanguard Group Inc. now owns 31,980,927 shares of the financial services provider’s stock valued at $2,316,059,000 after acquiring an additional 1,048,415 shares in the last quarter. Coho Partners Ltd. increased its holdings in shares of Aflac by 85.3% during the second quarter. Coho Partners Ltd. now owns 2,186,934 shares of the financial services provider’s stock valued at $169,881,000 after acquiring an additional 1,006,477 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its holdings in shares of Aflac by 310,643.9% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 664,992 shares of the financial services provider’s stock valued at $51,656,000 after acquiring an additional 664,778 shares in the last quarter. Hedge funds and other institutional investors own 65.66% of the company’s stock.
Aflac Incorporated (NYSE:AFL) traded up 0.85% during midday trading on Friday, reaching $82.81. The company had a trading volume of 2,438,596 shares. The company has a market capitalization of $32.73 billion, a P/E ratio of 12.52 and a beta of 0.97. Aflac Incorporated has a 1-year low of $66.50 and a 1-year high of $83.39. The firm has a 50-day moving average of $81.14 and a 200 day moving average of $76.46.
Aflac (NYSE:AFL) last released 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. Aflac had a return on equity of 13.09% and a net margin of 11.98%. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same period last year, the business posted $1.65 earnings per share. The firm’s revenue was down .2% compared to the same quarter last year. On average, equities research analysts forecast that Aflac Incorporated will post $6.69 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Wednesday, August 23rd were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Monday, August 21st. Aflac’s dividend payout ratio (DPR) is presently 25.94%.
Aflac declared that its Board of Directors has authorized a share repurchase plan on Tuesday, August 8th that permits the company to repurchase 40,000,000 outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
In other Aflac news, insider Teresa L. White sold 11,314 shares of the stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $78.01, for a total value of $882,605.14. Following the completion of the sale, the insider now directly owns 26,847 shares in the company, valued at $2,094,334.47. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Kriss Cloninger III sold 3,500 shares of the stock in a transaction dated 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 of the company’s stock, valued at $20,524,067.76. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.
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Several equities analysts have recently weighed in on AFL shares. Zacks Investment Research downgraded Aflac from a “buy” rating to a “hold” rating in a report on Wednesday, May 31st. Bank of America Corporation upgraded Aflac from an “underperform” rating to a “neutral” rating and raised their price target for the company from $75.00 to $78.00 in a report on Tuesday, July 4th. BidaskClub downgraded Aflac from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. ValuEngine upgraded Aflac from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, Barclays PLC raised their price target on Aflac from $73.00 to $79.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $77.23.
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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