UBS AG Reiterates “Overweight” Rating for Aflac Incorporated (AFL)
UBS AG restated their overweight rating on shares of Aflac Incorporated (NYSE:AFL) in a research report report published on Thursday, www.flashratings.com reports.
A number of other brokerages have also recently commented on AFL. ValuEngine raised Aflac from a hold rating to a buy rating in a report on Tuesday, August 1st. Barclays PLC raised their target price on Aflac from $73.00 to $79.00 and gave the stock an equal weight rating in a report on Friday, August 11th. BidaskClub cut Aflac from a sell rating to a strong sell rating in a report on Tuesday, August 1st. Bank of America Corporation raised Aflac from an underperform rating to a neutral rating and raised their target price 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 issued a $80.00 target price (up from $68.00) on shares of Aflac in a report on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $76.50.
Aflac (NYSE:AFL) opened at 80.91 on Thursday. The firm has a market capitalization of $31.98 billion, a price-to-earnings ratio of 12.23 and a beta of 0.99. The company’s 50 day moving average price is $79.41 and its 200-day moving average price is $75.36. Aflac has a 12-month low of $66.50 and a 12-month high of $81.89.
Aflac (NYSE:AFL) last announced its earnings results on Thursday, July 27th. The financial services provider reported $1.83 EPS for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.20. Aflac had a return on equity of 13.09% and a net margin of 11.98%. The company had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same period last year, the firm earned $1.65 EPS. Aflac’s revenue for the quarter was down .2% compared to the same quarter last year. On average, equities analysts anticipate that Aflac will post $6.69 earnings per share for the current fiscal year.
The company also recently disclosed 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. The ex-dividend date is Monday, August 21st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.13%. Aflac’s payout ratio is 25.94%.
Aflac declared that its Board of Directors has authorized a share buyback plan on Tuesday, August 8th that permits the company to buyback 40,000,000 shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, Director Karole Lloyd acquired 1,000 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was purchased 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 in the company, valued at approximately $558,553.53. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul S. Amos II sold 222,889 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $77.40, for a total value of $17,251,608.60. Following the transaction, the insider now owns 329,540 shares of the company’s stock, valued at approximately $25,506,396. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 240,203 shares of company stock valued at $18,612,224. Company insiders own 3.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bollard Group LLC raised its position in Aflac by 0.6% in the second quarter. Bollard Group LLC now owns 2,339 shares of the financial services provider’s stock valued at $182,000 after buying an additional 14 shares in the last quarter. Washington Trust Bank raised its position in Aflac by 0.9% in the second quarter. Washington Trust Bank now owns 1,704 shares of the financial services provider’s stock valued at $132,000 after buying an additional 16 shares in the last quarter. Balentine LLC raised its position in Aflac by 0.3% in the second quarter. Balentine LLC now owns 6,649 shares of the financial services provider’s stock valued at $516,000 after buying an additional 18 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Aflac by 0.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 7,259 shares of the financial services provider’s stock valued at $564,000 after buying an additional 27 shares in the last quarter. Finally, CWM LLC raised its position in Aflac by 2.1% in the second quarter. CWM LLC now owns 1,430 shares of the financial services provider’s stock valued at $111,000 after buying an additional 30 shares in the last quarter. Institutional investors own 64.59% of the company’s stock.
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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