Shelton Capital Management Has $5.45 Million Stake in Aflac Incorporated (AFL)
Shelton Capital Management grew its position in shares of Aflac Incorporated (NYSE:AFL) by 20.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,145 shares of the financial services provider’s stock after acquiring an additional 11,906 shares during the quarter. Shelton Capital Management’s holdings in Aflac were worth $5,449,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Atwood & Palmer Inc. grew its position in shares of Aflac by 320.5% during the second quarter. Atwood & Palmer Inc. now owns 1,312 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 1,000 shares during the last quarter. CWM LLC increased its holdings in shares of Aflac by 2.1% in the 2nd quarter. CWM LLC now owns 1,430 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 30 shares during the period. Capital Analysts LLC bought a new stake in Aflac in the 2nd quarter valued at about $131,000. Washington Trust Bank lifted its position in Aflac by 0.9% in the 2nd 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. Finally, Harfst & Associates Inc. bought a new stake in Aflac in the 1st quarter valued at about $128,000. 65.63% of the stock is owned by institutional investors.
Aflac Incorporated (AFL) traded up 0.17% during mid-day trading on Wednesday, hitting $82.37. The stock had a trading volume of 388,338 shares. The firm has a market cap of $32.56 billion, a P/E ratio of 12.45 and a beta of 0.96. The stock has a 50 day moving average of $81.92 and a 200-day moving average of $77.47. Aflac Incorporated has a 1-year low of $66.50 and a 1-year high of $84.51.
Aflac (NYSE:AFL) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.20. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.48 billion. Aflac had a net margin of 11.98% and a return on equity of 13.09%. During the same quarter last year, the business posted $1.65 earnings per share. Aflac’s revenue for the quarter was down .2% compared to the same quarter last year. Analysts predict that Aflac Incorporated will post $6.69 EPS for the current fiscal year.
Aflac announced that its board has approved a share repurchase plan on Tuesday, August 8th that authorizes the company to repurchase 40,000,000 shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
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In other news, President Kriss Cloninger III sold 3,500 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $81.06, for a total value of $283,710.00. Following the transaction, the president now owns 253,196 shares of the company’s stock, valued at approximately $20,524,067.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Douglas Wayne Johnson sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $83.58, for a total transaction of $125,370.00. Following the completion of the transaction, the director now directly owns 13,733 shares in the company, valued at approximately $1,147,804.14. The disclosure for this sale can be found here. Insiders have sold 31,899 shares of company stock worth $2,662,483 in the last ninety days. 3.00% of the stock is currently owned by insiders.
AFL has been the subject of several recent analyst reports. UBS AG restated an “overweight” rating on shares of Aflac in a research report on Thursday, August 24th. Citigroup Inc. cut Aflac from a “neutral” rating to a “sell” rating and cut their price target for the company from $82.00 to $77.00 in a report on Tuesday, September 26th. Zacks Investment Research cut Aflac from a “buy” rating to a “hold” rating in a report on Monday, September 25th. Bank of America Corporation cut Aflac from a “neutral” rating to an “underperform” rating in a report on Friday, September 8th. Finally, Barclays PLC boosted their price objective on Aflac from $71.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, July 3rd. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Aflac presently has a consensus rating of “Hold” and an average target price of $78.13.
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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