Arrowstreet Capital Limited Partnership acquired a new stake in Aflac Incorporated (NYSE:AFL) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 41,770 shares of the financial services provider’s stock, valued at approximately $3,245,000.
A number of other hedge funds have also recently made changes to their positions in AFL. BlackRock Inc. raised its holdings in shares of Aflac by 1,750.9% during the 1st quarter. BlackRock Inc. now owns 23,849,668 shares of the financial services provider’s stock worth $1,727,193,000 after acquiring an additional 22,561,116 shares during the period. AJO LP raised its holdings 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 acquiring an additional 2,132,414 shares during the period. Balyasny Asset Management LLC grew its position in Aflac by 1,351.2% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,311,615 shares of the financial services provider’s stock valued at $101,886,000 after acquiring an additional 1,221,231 shares in the last quarter. Vanguard Group Inc. grew its position in Aflac by 3.4% in the 1st 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. Finally, Coho Partners Ltd. grew its position in Aflac by 85.3% in the 2nd 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. Institutional investors own 65.63% of the company’s stock.
Shares of Aflac Incorporated (AFL) traded up 0.28% during mid-day trading on Friday, hitting $83.86. The stock had a trading volume of 401,506 shares. The firm has a market cap of $33.14 billion, a P/E ratio of 12.68 and a beta of 0.96. Aflac Incorporated has a 12-month low of $66.50 and a 12-month high of $85.24. The company has a 50 day moving average price of $83.07 and a 200 day moving average price of $78.75.
Aflac (NYSE:AFL) last announced its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $1.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.07. Aflac had a return on equity of 13.06% and a net margin of 12.49%. The company had revenue of $5.51 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter last year, the company earned $1.74 EPS. Aflac’s revenue for the quarter was down 3.7% compared to the same quarter last year. Equities analysts forecast that Aflac Incorporated will post $6.70 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be paid a $0.45 dividend. This is an increase from Aflac’s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 2.15%. The ex-dividend date is Tuesday, November 14th. Aflac’s dividend payout ratio (DPR) is 24.93%.
Aflac declared that its Board of Directors has initiated 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 typically a sign that the company’s board of directors believes its stock is undervalued.
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In related news, President Kriss Cloninger III sold 3,500 shares of the firm’s 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 directly owns 253,196 shares in the company, valued at approximately $20,524,067.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Douglas Wayne Johnson sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $83.58, for a total transaction of $125,370.00. Following the completion of the sale, the director now owns 13,733 shares of the company’s stock, valued at $1,147,804.14. The disclosure for this sale can be found here. Insiders sold a total of 31,899 shares of company stock valued at $2,662,483 over the last quarter. 3.00% of the stock is currently owned by company insiders.
A number of equities analysts have recently commented on the company. Wells Fargo & Company set a $82.00 price objective on Aflac and gave the stock a “hold” rating in a research report on Wednesday. Goldman Sachs Group, Inc. (The) assumed coverage on Aflac in a research report on Wednesday, October 18th. They set a “neutral” rating and a $88.00 price objective for the company. Royal Bank Of Canada reissued a “sell” rating and set a $71.00 price objective on shares of Aflac in a research report on Tuesday, October 10th. Citigroup Inc. cut Aflac from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $82.00 to $77.00 in a research note on Tuesday, September 26th. Finally, Zacks Investment Research cut Aflac from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $79.63.
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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