Princeton Portfolio Strategies Group LLC Takes Position in Aflac Incorporated (AFL)
Princeton Portfolio Strategies Group LLC purchased a new position in shares of Aflac Incorporated (NYSE:AFL) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,580 shares of the financial services provider’s stock, valued at approximately $200,000.
Other institutional investors have also recently added to or reduced their stakes 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 grew its position 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 worth $111,000 after acquiring an additional 30 shares during the last quarter. Harfst & Associates Inc. bought a new position in shares of Aflac during the first quarter worth about $128,000. Capital Analysts LLC bought a new position in shares of Aflac during the second quarter worth about $131,000. Finally, Washington Trust Bank grew its position 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 worth $132,000 after acquiring an additional 16 shares during the last quarter. Institutional investors and hedge funds own 65.63% of the company’s stock.
Shares of Aflac Incorporated (NYSE:AFL) traded up 0.1093% during trading on Monday, reaching $82.3599. 189,788 shares of the company were exchanged. The stock has a market capitalization of $32.55 billion, a P/E ratio of 12.4524 and a beta of 0.96. Aflac Incorporated has a 52-week low of $66.50 and a 52-week high of $84.51. The stock has a 50-day moving average of $82.07 and a 200 day moving average of $77.61.
Aflac (NYSE:AFL) last announced its quarterly earnings data 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. The firm had revenue of $5.43 billion during 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 was down .2% on a year-over-year basis. During the same period last year, the company earned $1.65 earnings per share. On average, equities analysts anticipate that Aflac Incorporated will post $6.69 earnings per share for the current fiscal year.
Aflac announced that its Board of Directors has approved a share buyback program on Tuesday, August 8th that permits the company to repurchase 40,000,000 shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, insider James Todd Daniels sold 620 shares of Aflac stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $81.49, for a total value of $50,523.80. Following the completion of the sale, the insider now directly owns 15,454 shares in the company, valued at $1,259,346.46. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Kriss Cloninger III sold 25,000 shares of Aflac stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $83.83, for a total value of $2,095,750.00. Following the completion of the sale, the president now owns 298,646 shares of the company’s stock, valued at $25,035,494.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,899 shares of company stock valued at $2,662,483. Corporate insiders own 3.00% of the company’s stock.
Several research firms have recently commented on AFL. Wells Fargo & Company restated a “hold” rating and set a $82.00 price target on shares of Aflac in a research report on Thursday, September 28th. Citigroup Inc. lowered shares of Aflac from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $82.00 to $77.00 in a research report on Tuesday, September 26th. Zacks Investment Research lowered shares of Aflac from a “buy” rating to a “hold” rating in a research report on Monday, September 25th. Bank of America Corporation lowered shares of Aflac from a “neutral” rating to an “underperform” rating in a research report on Friday, September 8th. Finally, UBS AG restated an “overweight” rating on shares of Aflac in a research report on Thursday, August 24th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $78.41.
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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