Aflac Incorporated (AFL) Position Cut by Chicago Equity Partners LLC
Chicago Equity Partners LLC lowered its position in shares of Aflac Incorporated (NYSE:AFL) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 302,410 shares of the financial services provider’s stock after selling 2,260 shares during the period. Aflac accounts for 0.6% of Chicago Equity Partners LLC’s portfolio, making the stock its 27th largest position. Chicago Equity Partners LLC owned 0.08% of Aflac worth $23,491,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of AFL. Physicians Financial Services Inc. increased its position in Aflac by 2.1% in the first quarter. Physicians Financial Services Inc. now owns 4,900 shares of the financial services provider’s stock worth $355,000 after buying an additional 100 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in Aflac by 58.1% in the first quarter. State of New Jersey Common Pension Fund D now owns 490,000 shares of the financial services provider’s stock worth $35,486,000 after buying an additional 180,000 shares in the last quarter. Russell Investments Group Ltd. increased its position in Aflac by 14.8% in the first quarter. Russell Investments Group Ltd. now owns 532,794 shares of the financial services provider’s stock worth $38,597,000 after buying an additional 68,734 shares in the last quarter. Rand Wealth LLC increased its position in Aflac by 0.6% in the first quarter. Rand Wealth LLC now owns 10,268 shares of the financial services provider’s stock worth $744,000 after buying an additional 57 shares in the last quarter. Finally, Financial Architects Inc increased its position in Aflac by 21.8% in the first quarter. Financial Architects Inc now owns 6,818 shares of the financial services provider’s stock worth $494,000 after buying an additional 1,219 shares in the last quarter. Hedge funds and other institutional investors own 65.63% of the company’s stock.
Shares of Aflac Incorporated (NYSE:AFL) opened at 82.55 on Friday. The company has a 50 day moving average price of $79.86 and a 200 day moving average price of $75.71. The company has a market cap of $32.63 billion, a P/E ratio of 12.48 and a beta of 0.99. Aflac Incorporated has a one year low of $66.50 and a one year high of $82.70.
Aflac (NYSE:AFL) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.83 earnings per share for the quarter, beating the 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 analyst estimates of $5.48 billion. During the same period in the prior year, the company posted $1.65 EPS. The company’s revenue was down .2% compared to the same quarter last year. Equities research analysts expect that Aflac Incorporated will post $6.69 earnings per share for the current year.
Aflac announced that its board has authorized a stock repurchase plan on Tuesday, August 8th that authorizes the company to repurchase 40,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Wednesday, August 23rd will be paid a $0.43 dividend. The ex-dividend date of this dividend is Monday, August 21st. This represents a $1.72 annualized dividend and a dividend yield of 2.08%. Aflac’s dividend payout ratio is currently 25.94%.
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A number of research analysts have commented on AFL shares. Zacks Investment Research downgraded Aflac from a “buy” rating to a “hold” rating in a report on Wednesday, May 31st. Barclays PLC increased their target price on Aflac from $71.00 to $73.00 and gave the stock an “equal weight” rating in a report on Monday, July 3rd. Bank of America Corporation raised Aflac from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $75.00 to $78.00 in a report on Tuesday, July 4th. Royal Bank Of Canada reaffirmed a “sell” rating and set a $66.00 target price on shares of Aflac in a report on Wednesday, July 12th. Finally, FBR & Co reaffirmed a “market perform” rating and set a $80.00 target price (up previously from $68.00) on shares of Aflac in a report on Wednesday, July 12th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Aflac has an average rating of “Hold” and an average target price of $76.50.
In related news, Director Karole Lloyd acquired 1,000 shares of the stock in a transaction dated Monday, June 12th. The shares were bought at an average cost of $77.01 per share, for a total transaction of $77,010.00. Following the purchase, the director now owns 7,253 shares in the company, valued at approximately $558,553.53. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul S. Amos II sold 222,889 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 329,540 shares in the company, valued at $25,506,396. The disclosure for this sale can be found here. Over the last quarter, insiders sold 240,203 shares of company stock worth $18,612,224. Corporate insiders own 3.00% 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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