DAVENPORT & Co LLC decreased its holdings in AFLAC Incorporated (NYSE:AFL) by 1.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,964 shares of the financial services provider’s stock after selling 307 shares during the quarter. DAVENPORT & Co LLC’s holdings in AFLAC were worth $972,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in the stock. OLD Second National Bank of Aurora lifted its stake in AFLAC by 10.3% in the first quarter. OLD Second National Bank of Aurora now owns 2,868 shares of the financial services provider’s stock worth $98,000 after acquiring an additional 268 shares during the period. Liberty Capital Management Inc. lifted its stake in AFLAC by 0.3% in the first quarter. Liberty Capital Management Inc. now owns 90,611 shares of the financial services provider’s stock worth $3,108,000 after acquiring an additional 314 shares during the period. Arjuna Capital lifted its stake in AFLAC by 0.6% in the first quarter. Arjuna Capital now owns 53,549 shares of the financial services provider’s stock worth $1,834,000 after acquiring an additional 319 shares during the period. Enterprise Financial Services Corp lifted its stake in AFLAC by 11.6% in the first quarter. Enterprise Financial Services Corp now owns 3,096 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 321 shares during the period. Finally, BKD Wealth Advisors LLC lifted its stake in AFLAC by 7.3% in the second quarter. BKD Wealth Advisors LLC now owns 6,378 shares of the financial services provider’s stock worth $230,000 after acquiring an additional 435 shares during the period. 67.27% of the stock is owned by institutional investors.
Shares of NYSE:AFL opened at $35.57 on Friday. AFLAC Incorporated has a 1-year low of $23.07 and a 1-year high of $55.07. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.07 and a quick ratio of 0.05. The business has a fifty day moving average price of $35.96 and a 200-day moving average price of $39.78. The company has a market capitalization of $25.32 billion, a PE ratio of 8.89, a PEG ratio of 1.60 and a beta of 0.89.
AFLAC (NYSE:AFL) last issued its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.23. AFLAC had a return on equity of 11.98% and a net margin of 13.50%. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same period last year, the company earned $1.13 earnings per share. The company’s revenue was down 1.9% on a year-over-year basis. On average, sell-side analysts anticipate that AFLAC Incorporated will post 4.42 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.12 annualized dividend and a dividend yield of 3.15%. AFLAC’s payout ratio is presently 25.23%.
A number of brokerages recently commented on AFL. Zacks Investment Research lowered AFLAC from a “buy” rating to a “hold” rating and set a $37.00 price target for the company. in a research note on Tuesday, April 7th. ValuEngine raised AFLAC from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 6th. Raymond James dropped their price target on AFLAC from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. Morgan Stanley raised their price objective on AFLAC from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, SunTrust Banks lowered their price objective on AFLAC from $44.00 to $37.00 and set a “hold” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. AFLAC currently has a consensus rating of “Hold” and an average target price of $44.20.
AFLAC Company Profile
Aflac Incorporated, through its subsidiaries, 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.
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