Synovus Financial Corp boosted its position in AFLAC Incorporated (NYSE:AFL) by 8.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 667,342 shares of the financial services provider’s stock after buying an additional 49,545 shares during the quarter. AFLAC makes up approximately 1.0% of Synovus Financial Corp’s portfolio, making the stock its 16th biggest position. Synovus Financial Corp owned about 0.17% of AFLAC worth $54,315,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of AFL. Berkshire Asset Management LLC PA boosted its stake in shares of AFLAC by 0.6% during the second quarter. Berkshire Asset Management LLC PA now owns 5,756 shares of the financial services provider’s stock valued at $447,000 after purchasing an additional 34 shares during the period. First Midwest Bank Trust Division boosted its stake in shares of AFLAC by 24.8% during the second quarter. First Midwest Bank Trust Division now owns 10,502 shares of the financial services provider’s stock valued at $816,000 after purchasing an additional 2,086 shares during the period. Regentatlantic Capital LLC boosted its stake in shares of AFLAC by 0.6% during the second quarter. Regentatlantic Capital LLC now owns 23,833 shares of the financial services provider’s stock valued at $1,851,000 after purchasing an additional 148 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of AFLAC by 22.9% during the second quarter. Russell Investments Group Ltd. now owns 654,645 shares of the financial services provider’s stock valued at $50,865,000 after purchasing an additional 121,851 shares during the period. Finally, Parametrica Management Ltd boosted its stake in shares of AFLAC by 14.2% during the second quarter. Parametrica Management Ltd now owns 3,297 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 411 shares during the period. 65.42% of the stock is owned by institutional investors and hedge funds.
AFLAC Incorporated (NYSE:AFL) opened at $88.14 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.07 and a current ratio of 0.07. The company has a market capitalization of $34,439.90, a P/E ratio of 13.00, a P/E/G ratio of 2.59 and a beta of 1.02. AFLAC Incorporated has a twelve month low of $66.50 and a twelve month high of $88.74.
AFLAC (NYSE:AFL) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.07. The company had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.48 billion. AFLAC had a return on equity of 12.87% and a net margin of 12.49%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.74 earnings per share. research analysts expect that AFLAC Incorporated will post 6.76 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Tuesday, November 14th. This is an increase from AFLAC’s previous quarterly dividend of $0.43. AFLAC’s dividend payout ratio is currently 26.09%.
AFLAC declared that its board has initiated a share repurchase program on Tuesday, August 8th that permits the company to repurchase 40,000,000 shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
A number of research firms have recently weighed in on AFL. Wells Fargo & Company set a $84.00 price objective on AFLAC and gave the company a “hold” rating in a research note on Friday. B. Riley reissued a “neutral” rating on shares of AFLAC in a research note on Monday, November 6th. Goldman Sachs Group began coverage on AFLAC in a research note 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 note on Tuesday, October 10th. Finally, Citigroup lowered AFLAC from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $82.00 to $77.00 in a research note on Tuesday, September 26th. Four 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. The company currently has an average rating of “Hold” and a consensus price target of $79.79.
In other AFLAC news, insider James Todd Daniels sold 620 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $81.49, for a total value of $50,523.80. Following the completion of the transaction, the insider now owns 15,454 shares in the company, valued at $1,259,346.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Audrey B. Tillman sold 310 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $83.57, for a total value of $25,906.70. Following the completion of the transaction, the insider now 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. In the last 90 days, insiders have sold 28,709 shares of company stock valued at $2,404,680. 3.00% of the stock is owned by corporate insiders.
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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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