US Bancorp DE trimmed its stake in AFLAC Incorporated (NYSE:AFL) by 3.5% in the third quarter, HoldingsChannel reports. The firm owned 413,888 shares of the financial services provider’s stock after selling 15,073 shares during the quarter. US Bancorp DE’s holdings in AFLAC were worth $19,482,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its position in AFLAC by 1.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 77,191 shares of the financial services provider’s stock valued at $3,321,000 after acquiring an additional 1,097 shares in the last quarter. Abacus Planning Group Inc. raised its position in AFLAC by 21.4% during the third quarter. Abacus Planning Group Inc. now owns 6,602 shares of the financial services provider’s stock valued at $310,000 after acquiring an additional 1,166 shares in the last quarter. IFP Advisors Inc raised its position in AFLAC by 21.5% during the third quarter. IFP Advisors Inc now owns 6,646 shares of the financial services provider’s stock valued at $313,000 after acquiring an additional 1,176 shares in the last quarter. Pineno Levin & Ford Asset Management Inc. raised its position in AFLAC by 10.4% during the second quarter. Pineno Levin & Ford Asset Management Inc. now owns 12,688 shares of the financial services provider’s stock valued at $546,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Advisor Partners LLC raised its position in AFLAC by 5.8% during the second quarter. Advisor Partners LLC now owns 22,215 shares of the financial services provider’s stock valued at $956,000 after acquiring an additional 1,209 shares in the last quarter. 66.91% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of AFLAC in a research report on Wednesday, October 3rd. Morgan Stanley raised their price objective on shares of AFLAC from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, September 27th. Zacks Investment Research lowered shares of AFLAC from a “buy” rating to a “hold” rating in a research report on Friday, September 28th. B. Riley raised their price objective on shares of AFLAC from $42.00 to $46.00 and gave the company a “neutral” rating in a research report on Tuesday, August 7th. Finally, Credit Suisse Group cut their price objective on shares of AFLAC from $49.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, August 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $48.54.
NYSE:AFL opened at $43.99 on Wednesday. AFLAC Incorporated has a 12 month low of $41.41 and a 12 month high of $48.19. The company has a market capitalization of $32.94 billion, a PE ratio of 12.94, a PEG ratio of 1.24 and a beta of 0.95. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.05 and a current ratio of 0.05.
AFLAC (NYSE:AFL) last released its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.04. AFLAC had a net margin of 21.51% and a return on equity of 12.85%. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the firm posted $0.85 earnings per share. Analysts predict that AFLAC Incorporated will post 4.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Wednesday, November 21st will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Tuesday, November 20th. AFLAC’s dividend payout ratio is 30.59%.
In other news, Director Douglas Wayne Johnson sold 2,000 shares of the firm’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $46.52, for a total value of $93,040.00. Following the sale, the director now owns 29,859 shares in the company, valued at $1,389,040.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Joseph L. Moskowitz sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $46.38, for a total transaction of $69,570.00. Following the completion of the sale, the director now owns 17,779 shares in the company, valued at approximately $824,590.02. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
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AFLAC Company Profile
Aflac Incorporated, through its subsidiary, American Family Life Assurance Company of Columbus, provides voluntary supplemental health and life insurance products. It operates through two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers voluntary supplemental insurance products, including cancer plans, general medical indemnity plans, medical/sickness riders, care plans, living benefit life plans, ordinary life insurance plans, and annuities in Japan.
Further Reading: How is Preferred Stock Different from Common Stock?
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