Aflac Incorporated (AFL) Position Lowered by Conning Inc.
Conning Inc. lowered its position in shares of Aflac Incorporated (NYSE:AFL) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,808 shares of the financial services provider’s stock after selling 80 shares during the period. Conning Inc.’s holdings in Aflac were worth $1,228,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. IFC Holdings Incorporated FL raised its position in Aflac by 98.9% in the first quarter. IFC Holdings Incorporated FL now owns 8,637 shares of the financial services provider’s stock worth $624,000 after buying an additional 4,294 shares during the period. Sigma Planning Corp raised its position in Aflac by 30.8% in the first quarter. Sigma Planning Corp now owns 18,103 shares of the financial services provider’s stock worth $1,311,000 after buying an additional 4,261 shares during the period. Guinness Asset Management Ltd raised its position in Aflac by 11.6% in the first quarter. Guinness Asset Management Ltd now owns 154,120 shares of the financial services provider’s stock worth $11,161,000 after buying an additional 15,990 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in Aflac by 2.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 10,884 shares of the financial services provider’s stock worth $737,000 after buying an additional 211 shares during the period. Finally, CAPROCK Group Inc. raised its position in Aflac by 4.9% in the first quarter. CAPROCK Group Inc. now owns 6,167 shares of the financial services provider’s stock worth $447,000 after buying an additional 290 shares during the period. Hedge funds and other institutional investors own 64.59% of the company’s stock.
Shares of Aflac Incorporated (NYSE:AFL) opened at 79.71 on Tuesday. The company has a market capitalization of $31.50 billion, a P/E ratio of 12.05 and a beta of 0.99. The firm has a 50-day moving average of $79.19 and a 200 day moving average of $75.12. Aflac Incorporated has a 1-year low of $66.50 and a 1-year high of $81.89.
Aflac (NYSE:AFL) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.83 EPS 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 analyst estimates of $5.48 billion. During the same quarter last year, the business earned $1.65 earnings per share. Aflac’s quarterly revenue was down .2% compared to the same quarter last year. On average, analysts anticipate that Aflac Incorporated will post $6.69 EPS for the current year.
Aflac declared that its board has approved a stock buyback plan on Tuesday, August 8th that allows the company to buyback 40,000,000 shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 23rd will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, August 21st. This represents a $1.72 annualized dividend and a yield of 2.16%. Aflac’s dividend payout ratio (DPR) is currently 25.94%.
AFL has been the subject of a number of research analyst reports. ValuEngine raised shares of Aflac from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Barclays PLC lifted their price objective on shares of Aflac from $73.00 to $79.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th. BidaskClub downgraded shares of Aflac from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Bank of America Corporation raised shares of Aflac from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $75.00 to $78.00 in a report on Tuesday, July 4th. Finally, FBR & Co reaffirmed a “market perform” rating and set a $80.00 price objective (up from $68.00) on shares of Aflac in a report on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $76.50.
In other Aflac news, Director Karole Lloyd acquired 1,000 shares of the stock in a transaction on Monday, June 12th. The stock was acquired at an average price of $77.01 per share, for a total transaction of $77,010.00. Following the completion of the transaction, the director now directly owns 7,253 shares of the company’s stock, valued at $558,553.53. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Kriss Cloninger III sold 2,500 shares of the stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $77.72, for a total transaction of $194,300.00. Following the transaction, the president now owns 241,646 shares of the company’s stock, valued at approximately $18,780,727.12. The disclosure for this sale can be found here. Insiders have sold 240,203 shares of company stock valued at $18,612,224 in the last quarter. 3.00% of the stock is owned by company insiders.
Aflac Company Profile
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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