Cetera Investment Advisers purchased a new stake in Aflac Incorporated (NYSE:AFL) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,770 shares of the financial services provider’s stock, valued at approximately $609,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Advisory Services Network LLC grew its holdings in Aflac by 1.0% in the 2nd quarter. Advisory Services Network LLC now owns 4,915 shares of the financial services provider’s stock valued at $382,000 after buying an additional 49 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Aflac during the 2nd quarter worth about $358,000. North Star Asset Management Inc. grew its holdings in shares of Aflac by 0.7% during the 2nd quarter. North Star Asset Management Inc. now owns 58,802 shares of the financial services provider’s stock worth $4,568,000 after purchasing an additional 395 shares during the period. GWM Advisors LLC grew its holdings in shares of Aflac by 15.0% during the 2nd quarter. GWM Advisors LLC now owns 8,078 shares of the financial services provider’s stock worth $627,000 after purchasing an additional 1,054 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in shares of Aflac during the 2nd quarter worth about $725,000. Institutional investors own 65.63% of the company’s stock.
Aflac Incorporated (NYSE:AFL) traded up 0.389% on Friday, hitting $83.955. The stock had a trading volume of 621,265 shares. The firm’s 50-day moving average price is $83.08 and its 200-day moving average price is $78.75. Aflac Incorporated has a 1-year low of $66.50 and a 1-year high of $85.24. The firm has a market cap of $33.18 billion, a P/E ratio of 12.694 and a beta of 0.96.
Aflac (NYSE:AFL) last announced its quarterly earnings results 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 net margin of 12.49% and a return on equity of 13.06%. The business had revenue of $5.51 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter last year, the firm earned $1.74 EPS. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, equities research analysts predict that Aflac Incorporated will post $6.70 earnings per share for the current year.
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 given a dividend of $0.45 per share. The ex-dividend date is Tuesday, November 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.15%. This is a boost from Aflac’s previous quarterly dividend of $0.43. Aflac’s dividend payout ratio (DPR) is currently 24.93%.
Aflac declared that its board has approved a share repurchase plan on Tuesday, August 8th that permits the company to buyback 40,000,000 shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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In related news, Director Douglas Wayne Johnson sold 1,500 shares of Aflac stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $83.58, for a total value of $125,370.00. Following the completion of the transaction, the director now directly owns 13,733 shares in the company, valued at approximately $1,147,804.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Kriss Cloninger III sold 25,000 shares of Aflac stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $83.83, for a total transaction of $2,095,750.00. Following the completion of the transaction, the president now 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 have sold 31,899 shares of company stock worth $2,662,483. Insiders own 3.00% of the company’s stock.
Several research firms recently commented on AFL. ValuEngine raised Aflac from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. BidaskClub lowered Aflac from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research raised Aflac from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research report on Thursday, September 21st. FBR & Co reissued a “market perform” rating and set a $80.00 price target (up from $68.00) on shares of Aflac in a research report on Wednesday, July 12th. Finally, Barclays PLC upped their target price on Aflac from $73.00 to $79.00 and gave the company an “equal weight” rating in a research report on Friday, August 11th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $79.63.
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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