Benjamin F. Edwards & Company Inc. boosted its holdings in Aflac Incorporated (NYSE:AFL) by 11.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,963 shares of the financial services provider’s stock after purchasing an additional 2,817 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Aflac were worth $2,276,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of AFL. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Aflac by 0.7% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 68,023 shares of the financial services provider’s stock valued at $4,926,000 after buying an additional 449 shares during the last quarter. Westpac Banking Corp boosted its position in Aflac by 4.9% in the first quarter. Westpac Banking Corp now owns 118,231 shares of the financial services provider’s stock worth $8,394,000 after purchasing an additional 5,576 shares during the last quarter. Cadence Capital Management LLC boosted its position in Aflac by 1.5% in the first quarter. Cadence Capital Management LLC now owns 68,067 shares of the financial services provider’s stock worth $4,929,000 after purchasing an additional 1,024 shares during the last quarter. Burney Co. raised its stake in shares of Aflac by 0.9% in the first quarter. Burney Co. now owns 174,255 shares of the financial services provider’s stock valued at $12,620,000 after buying an additional 1,504 shares during the period. Finally, Covington Investment Advisors Inc. raised its stake in shares of Aflac by 3.1% in the first quarter. Covington Investment Advisors Inc. now owns 56,365 shares of the financial services provider’s stock valued at $4,082,000 after buying an additional 1,715 shares during the period. Institutional investors and hedge funds own 66.42% of the company’s stock.
Aflac Incorporated (NYSE AFL) opened at $83.44 on Friday. The company has a market capitalization of $32,804.44, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 2.47 and a beta of 1.00. The company has a current ratio of 0.07, a quick 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.
Aflac (NYSE:AFL) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $1.70 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the prior year, the company earned $1.74 EPS. The business’s revenue was down 3.7% compared to the same quarter last year. equities research analysts forecast that Aflac Incorporated will post 6.76 earnings per share for the current fiscal year.
Aflac announced that its Board of Directors has approved a stock repurchase 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 repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication 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. Stockholders of record on Wednesday, November 15th will be given a $0.45 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.16%. This is a positive change from Aflac’s previous quarterly dividend of $0.43. Aflac’s dividend payout ratio is currently 24.93%.
In related news, insider James Todd Daniels sold 620 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 15,454 shares of the company’s stock, valued at approximately $1,259,346.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Audrey B. Tillman sold 310 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $83.57, for a total value of $25,906.70. Following the transaction, the insider now directly owns 41,937 shares of the company’s stock, valued at approximately $3,504,675.09. The disclosure for this sale can be found here. Insiders sold a total of 28,709 shares of company stock valued at $2,404,680 in the last three months. Corporate insiders own 3.00% of the company’s stock.
Several analysts have issued reports on the company. Wells Fargo & Company set a $82.00 target price on Aflac and gave the company a “hold” rating in a research note on Wednesday, October 25th. Citigroup Inc. lowered Aflac from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $82.00 to $77.00 in a research note on Tuesday, September 26th. Zacks Investment Research lowered Aflac from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. Goldman Sachs Group, Inc. (The) began coverage on Aflac in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $88.00 target price on the stock. Finally, B. Riley restated a “neutral” rating on shares of Aflac in a research note on Monday, November 6th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Aflac currently has a consensus rating of “Hold” and a consensus target price of $79.63.
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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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