Retirement Systems of Alabama Reduces Stake in Aflac Inc. (AFL)
Retirement Systems of Alabama decreased its position in Aflac Inc. (NYSE:AFL) by 1.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 211,056 shares of the company’s stock after selling 2,231 shares during the period. Retirement Systems of Alabama owned approximately 0.05% of Aflac worth $15,230,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of AFL. Virginia Retirement System acquired a new stake in Aflac during the first quarter worth about $3,651,000. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Aflac by 38.1% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 89,658 shares of the company’s stock worth $5,661,000 after buying an additional 24,733 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in Aflac by 15.1% in the first quarter. Rehmann Capital Advisory Group now owns 3,922 shares of the company’s stock worth $248,000 after buying an additional 515 shares during the last quarter. Willingdon Wealth Management acquired a new stake in Aflac during the first quarter worth about $551,000. Finally, Franklin Resources Inc. boosted its stake in Aflac by 0.6% in the first quarter. Franklin Resources Inc. now owns 3,025,146 shares of the company’s stock worth $191,008,000 after buying an additional 16,881 shares during the last quarter. 62.90% of the stock is owned by institutional investors and hedge funds.
Aflac Inc. (NYSE:AFL) traded up 0.43% during midday trading on Friday, hitting $71.87. The stock had a trading volume of 1,546,004 shares. The company has a 50-day moving average price of $72.77 and a 200-day moving average price of $69.90. Aflac Inc. has a 52 week low of $54.57 and a 52 week high of $74.50. The stock has a market cap of $29.44 billion, a P/E ratio of 11.82 and a beta of 1.30.
Aflac (NYSE:AFL) last announced its quarterly earnings results on Thursday, July 28th. The company reported $1.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.03. Aflac had a return on equity of 14.30% and a net margin of 12.12%. The business earned $5.44 billion during the quarter, compared to the consensus estimate of $5.45 billion. During the same quarter in the prior year, the company posted $1.50 earnings per share. Aflac’s revenue was up 2.8% compared to the same quarter last year. Equities analysts expect that Aflac Inc. will post $6.85 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Wednesday, August 24th were issued a dividend of $0.41 per share. The ex-dividend date was Monday, August 22nd. This represents a $1.64 annualized dividend and a yield of 2.28%. Aflac’s dividend payout ratio (DPR) is currently 26.93%.
AFL has been the subject of a number of research reports. Vetr raised Aflac from a “hold” rating to a “buy” rating and set a $70.50 target price for the company in a research note on Monday, June 27th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Aflac in a research note on Wednesday, July 6th. Evercore ISI initiated coverage on shares of Aflac in a research note on Wednesday, July 6th. They set a “sell” rating and a $63.00 price target for the company. Deutsche Bank AG raised their price target on shares of Aflac from $71.00 to $73.00 and gave the stock a “hold” rating in a research note on Thursday, July 7th. Finally, Zacks Investment Research raised shares of Aflac from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research note on Tuesday, July 26th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. Aflac has an average rating of “Hold” and an average price target of $69.46.
In related news, insider Audrey B. Tillman sold 1,500 shares of the company’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $73.98, for a total transaction of $110,970.00. Following the completion of the sale, the insider now owns 33,958 shares in the company, valued at $2,512,212.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Barbara K. Rimer sold 3,650 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $71.74, for a total value of $261,851.00. Following the sale, the director now owns 15,910 shares of the company’s stock, valued at approximately $1,141,383.40. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
Aflac Incorporated is a business holding company. The Company engaged in is supplemental health and life insurance, which is marketed and administered through its subsidiary, American Family Life Assurance Company of Columbus (Aflac). Aflac’s insurance business consists of two segments: Aflac Japan and Aflac U.S.
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