Amalgamated Bank Has $3.41 Million Stake in Aflac Incorporated (AFL)
Amalgamated Bank grew its stake in shares of Aflac Incorporated (NYSE:AFL) by 54.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,877 shares of the financial services provider’s stock after purchasing an additional 15,522 shares during the period. Amalgamated Bank’s holdings in Aflac were worth $3,408,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bollard Group LLC lifted its holdings in shares of Aflac by 0.6% during the second quarter. Bollard Group LLC now owns 2,339 shares of the financial services provider’s stock valued at $182,000 after purchasing an additional 14 shares during the last quarter. Washington Trust Bank lifted its holdings in shares of Aflac by 0.9% during the second quarter. Washington Trust Bank now owns 1,704 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 16 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Aflac by 0.4% during 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 purchasing an additional 27 shares during the last quarter. CWM LLC lifted its holdings in shares of Aflac by 2.1% during the second quarter. CWM LLC now owns 1,430 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 30 shares during the last quarter. Finally, Berkshire Asset Management LLC PA lifted its holdings in shares of Aflac by 0.6% during the second quarter. Berkshire Asset Management LLC PA now owns 5,756 shares of the financial services provider’s stock valued at $447,000 after purchasing an additional 34 shares during the last quarter. 65.66% of the stock is owned by institutional investors and hedge funds.
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Shares of Aflac Incorporated (AFL) traded up 0.85% on Friday, reaching $82.81. The company’s stock had a trading volume of 2,438,596 shares. Aflac Incorporated has a 1-year low of $66.50 and a 1-year high of $83.39. The company’s 50 day moving average is $81.14 and its 200-day moving average is $76.46. The stock has a market cap of $32.73 billion, a PE ratio of 12.52 and a beta of 0.97.
Aflac (NYSE:AFL) last posted 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 firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.48 billion. Aflac had a return on equity of 13.09% and a net margin of 11.98%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the company posted $1.65 earnings per share. On average, equities analysts predict that Aflac Incorporated will post $6.69 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Wednesday, August 23rd were issued a $0.43 dividend. The ex-dividend date was Monday, August 21st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.08%. Aflac’s dividend payout ratio (DPR) is 25.94%.
Aflac announced that its Board of Directors has approved 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 repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
AFL has been the subject of several analyst reports. Zacks Investment Research downgraded Aflac from a “buy” rating to a “hold” rating in a report on Wednesday, May 31st. Barclays PLC upped their target price on Aflac from $71.00 to $73.00 and gave the company 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 upped their target price for the company 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 from $68.00) on shares of Aflac in a report on Wednesday, July 12th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $77.23.
In other news, President Kriss Cloninger III sold 3,500 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $81.06, for a total value of $283,710.00. Following the sale, the president now directly owns 253,196 shares in the company, valued at $20,524,067.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Teresa L. White sold 11,314 shares of the business’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $78.01, for a total value of $882,605.14. Following the completion of the sale, the insider now owns 26,847 shares in the company, valued at $2,094,334.47. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
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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