Aflac Incorporated (AFL) President Kriss Cloninger III Sells 3,500 Shares
Aflac Incorporated (NYSE:AFL) President Kriss Cloninger III sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $81.06, for a total transaction of $283,710.00. Following the transaction, the president now directly owns 253,196 shares of the company’s stock, valued at $20,524,067.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Kriss Cloninger III also recently made the following trade(s):
- On Thursday, June 15th, Kriss Cloninger III sold 2,500 shares of Aflac stock. The shares were sold at an average price of $77.72, for a total transaction of $194,300.00.
Shares of Aflac Incorporated (NYSE:AFL) traded up 0.01% on Friday, reaching $79.84. The company’s stock had a trading volume of 1,397,338 shares. Aflac Incorporated has a 52-week low of $66.50 and a 52-week high of $81.89. The company has a market cap of $31.56 billion, a price-to-earnings ratio of 12.07 and a beta of 0.99. The stock has a 50-day moving average of $79.13 and a 200 day moving average of $74.94.
Aflac (NYSE:AFL) last issued its earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.20. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.48 billion. Aflac had a return on equity of 13.09% and a net margin of 11.98%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.65 EPS. On average, equities research analysts forecast that Aflac Incorporated will post $6.69 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Wednesday, August 23rd will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Monday, August 21st. Aflac’s payout ratio is presently 25.94%.
Aflac announced that its Board of Directors has initiated a share repurchase plan on Tuesday, August 8th that permits the company to repurchase 40,000,000 outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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AFL has been the subject of several research reports. Zacks Investment Research raised Aflac from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research note on Friday, June 2nd. ValuEngine upgraded Aflac from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Barclays PLC lifted their target price on Aflac from $73.00 to $79.00 and gave the company an “equal weight” rating in a research report on Friday, August 11th. FBR & Co reiterated a “market perform” rating and issued a $80.00 target price (up previously from $68.00) on shares of Aflac in a research report on Wednesday, July 12th. Finally, Bank of America Corporation upgraded Aflac from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $75.00 to $78.00 in a research report on Tuesday, July 4th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $76.50.
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake 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 during the last quarter. BlackRock Inc. increased 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. State Street Corp increased 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 during the last quarter. FMR LLC increased its position in shares of Aflac by 11.6% in the second quarter. FMR LLC now owns 7,106,003 shares of the financial services provider’s stock worth $551,994,000 after buying an additional 736,703 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Aflac by 4.1% in the first quarter. AQR Capital Management LLC now owns 4,390,534 shares of the financial services provider’s stock worth $317,962,000 after buying an additional 173,236 shares during the last quarter. 64.59% of the stock is currently owned by institutional investors.
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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