Aflac Incorporated (AFL) Shares Sold by Tdam USA Inc.
Tdam USA Inc. reduced its position in shares of Aflac Incorporated (NYSE:AFL) by 33.2% during the second quarter, Holdings Channel reports. The fund owned 20,093 shares of the financial services provider’s stock after selling 9,982 shares during the period. Tdam USA Inc.’s holdings in Aflac were worth $1,559,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of AFL. BlackRock Inc. boosted its position in shares of Aflac by 1,750.9% in the first quarter. BlackRock Inc. now owns 23,849,668 shares of the financial services provider’s stock worth $1,727,193,000 after buying an additional 22,561,116 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Aflac by 3.4% in the first quarter. Vanguard Group Inc. now owns 31,980,927 shares of the financial services provider’s stock worth $2,316,059,000 after buying an additional 1,048,415 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Aflac by 5,077.8% in the first quarter. Teacher Retirement System of Texas now owns 600,415 shares of the financial services provider’s stock worth $43,482,000 after buying an additional 588,819 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its position in shares of Aflac by 365.4% in the second quarter. NN Investment Partners Holdings N.V. now owns 653,691 shares of the financial services provider’s stock worth $50,777,000 after buying an additional 513,231 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Aflac by 2.4% in the first quarter. State Street Corp now owns 21,858,806 shares of the financial services provider’s stock worth $1,583,023,000 after buying an additional 505,060 shares in the last quarter. Hedge funds and other institutional investors own 64.59% of the company’s stock.
Shares of Aflac Incorporated (AFL) opened at 81.26 on Wednesday. The company has a 50-day moving average price of $78.93 and a 200 day moving average price of $74.79. The company has a market capitalization of $32.12 billion, a price-to-earnings ratio of 12.29 and a beta of 0.99. Aflac Incorporated has a one year low of $66.50 and a one year high of $81.89.
Aflac (NYSE:AFL) last released its earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.20. Aflac had a net margin of 11.98% and a return on equity of 13.09%. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter last year, the company earned $1.65 earnings per share. The firm’s revenue was down .2% on a year-over-year basis. On average, analysts forecast that Aflac Incorporated will post $6.69 EPS for the current fiscal year.
Aflac declared that its board has initiated a stock buyback program on Tuesday, August 8th that allows the company to repurchase 40,000,000 shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Wednesday, August 23rd will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Monday, August 21st. Aflac’s payout ratio is presently 25.94%.
A number of research analysts have commented on the company. ValuEngine upgraded Aflac from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Barclays PLC boosted their price objective on Aflac from $73.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Friday, August 11th. BidaskClub cut Aflac from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Bank of America Corporation upgraded Aflac from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $75.00 to $78.00 in a research note on Tuesday, July 4th. Finally, FBR & Co restated a “market perform” rating and set a $80.00 price objective (up previously from $68.00) on shares of Aflac in a research note on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $76.50.
In related news, President Kriss Cloninger III sold 3,500 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $81.06, for a total value of $283,710.00. Following the completion of the sale, the president now owns 253,196 shares in the company, valued at $20,524,067.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Karole Lloyd bought 1,000 shares of Aflac stock in a transaction that occurred on Monday, June 12th. The stock was bought at an average price of $77.01 per share, with a total value of $77,010.00. Following the purchase, the director now owns 7,253 shares of the company’s stock, valued at approximately $558,553.53. The disclosure for this purchase can be found here. In the last quarter, insiders sold 240,203 shares of company stock valued at $18,612,224. 3.00% of the stock is owned by corporate insiders.
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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