Zurcher Kantonalbank Zurich Cantonalbank Has $13.74 Million Position in Aflac Incorporated (AFL)
Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of Aflac Incorporated (NYSE:AFL) by 3.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 176,922 shares of the financial services provider’s stock after selling 6,856 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Aflac were worth $13,743,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWM LLC raised its stake in Aflac by 2.1% in the second quarter. CWM LLC now owns 1,430 shares of the financial services provider’s stock worth $111,000 after buying an additional 30 shares during the last quarter. Harfst & Associates Inc. purchased a new stake in shares of Aflac during the first quarter valued at approximately $128,000. Washington Trust Bank raised its stake in shares of 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 during the last quarter. ClariVest Asset Management LLC purchased a new stake in shares of Aflac during the second quarter valued at approximately $150,000. Finally, Sit Investment Associates Inc. raised its stake in shares of Aflac by 1.8% in the second quarter. Sit Investment Associates Inc. now owns 2,137 shares of the financial services provider’s stock valued at $166,000 after buying an additional 37 shares during the last quarter. 65.63% of the stock is owned by institutional investors.
Aflac Incorporated (AFL) opened at 82.06 on Thursday. Aflac Incorporated has a 1-year low of $66.50 and a 1-year high of $82.36. The stock’s 50 day moving average price is $79.41 and its 200-day moving average price is $75.36. The company has a market cap of $32.43 billion, a PE ratio of 12.41 and a beta of 0.99.
Aflac (NYSE:AFL) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.20. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.48 billion. Aflac had a net margin of 11.98% and a return on equity of 13.09%. The company’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.65 earnings per share. On average, analysts forecast that Aflac Incorporated will post $6.69 earnings per share for the current year.
Aflac announced that its board has initiated a stock repurchase program on Tuesday, August 8th that allows the company to repurchase 40,000,000 shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 23rd will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Monday, August 21st. Aflac’s dividend payout ratio is currently 25.94%.
Several brokerages recently commented on AFL. ValuEngine raised Aflac from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. UBS AG reiterated an “overweight” rating on shares of Aflac in a research report on Thursday, August 24th. BidaskClub downgraded Aflac from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded Aflac from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. Finally, 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. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $76.50.
In other news, President Kriss Cloninger III sold 3,500 shares of the stock in a transaction on 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 of the company’s stock, valued at $20,524,067.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul S. Amos II sold 222,889 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $77.40, for a total transaction of $17,251,608.60. Following the completion of the sale, the insider now directly 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 ninety days, insiders have sold 240,203 shares of company stock worth $18,612,224. 3.00% of the stock is currently owned by 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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