Aflac Inc. (AFL) Shares Sold by Parsec Financial Management Inc.
Parsec Financial Management Inc. decreased its stake in shares of Aflac Inc. (NYSE:AFL) by 0.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 256,611 shares of the company’s stock after selling 937 shares during the period. Aflac makes up 1.8% of Parsec Financial Management Inc.’s investment portfolio, making the stock its 12th largest position. Parsec Financial Management Inc. owned approximately 0.06% of Aflac worth $18,517,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Oakworth Capital Inc. boosted its position in Aflac by 62.4% in the second quarter. Oakworth Capital Inc. now owns 1,835 shares of the company’s stock valued at $127,000 after buying an additional 705 shares during the period. Trust Department MB Financial Bank N A boosted its position in Aflac by 291.9% in the second quarter. Trust Department MB Financial Bank N A now owns 2,171 shares of the company’s stock valued at $135,000 after buying an additional 1,617 shares during the period. Quadrant Capital Group LLC boosted its position in Aflac by 1.7% in the second quarter. Quadrant Capital Group LLC now owns 2,384 shares of the company’s stock valued at $166,000 after buying an additional 40 shares during the period. NN Investment Partners Holdings N.V. acquired a new position in Aflac during the first quarter valued at approximately $153,000. Finally, Cim LLC acquired a new position in Aflac during the second quarter valued at approximately $219,000. Institutional investors own 62.90% of the company’s stock.
Shares of Aflac Inc. (NYSE:AFL) traded down 0.85% on Friday, reaching $71.46. The company had a trading volume of 850,141 shares. The firm has a market cap of $29.27 billion, a P/E ratio of 11.75 and a beta of 1.33. Aflac Inc. has a one year low of $54.57 and a one year high of $74.50. The company has a 50-day moving average price of $72.68 and a 200-day moving average price of $70.16.
Aflac (NYSE:AFL) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.71 earnings per share 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 company had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.45 billion. During the same quarter last year, the firm earned $1.50 EPS. Aflac’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, analysts expect that Aflac Inc. will post $6.85 earnings per share for the current fiscal year.
Several research firms have recently commented on AFL. Vetr upgraded 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. Deutsche Bank AG upped their price target on Aflac from $71.00 to $73.00 and gave the company a “hold” rating in a research report on Thursday, July 7th. Credit Suisse Group AG began coverage on Aflac in a research report on Friday. They set an “underperform” rating and a $75.00 price target on the stock. Zacks Investment Research lowered Aflac from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. Finally, FBR & Co reissued a “hold” rating on shares of Aflac in a research report on Friday, July 29th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. Aflac currently has an average rating of “Hold” and an average target price of $69.88.
In related news, insider Audrey B. Tillman sold 1,500 shares of the business’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $73.98, for a total value of $110,970.00. Following the sale, the insider now owns 33,958 shares of the company’s stock, valued at approximately $2,512,212.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Barbara K. Rimer sold 3,650 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $71.74, for a total value of $261,851.00. Following the completion of the sale, the director now directly owns 15,910 shares in the company, valued at approximately $1,141,383.40. The disclosure for this sale can be found here. 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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