California State Teachers Retirement System Sells 79,831 Shares of Aflac Incorporated (AFL)
California State Teachers Retirement System cut its position in Aflac Incorporated (NYSE:AFL) by 9.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 746,061 shares of the financial services provider’s stock after selling 79,831 shares during the quarter. California State Teachers Retirement System owned about 0.19% of Aflac worth $57,954,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AFL. BlackRock Inc. boosted its stake in Aflac by 1,750.9% in the 1st quarter. BlackRock Inc. now owns 23,849,668 shares of the financial services provider’s stock valued at $1,727,193,000 after purchasing an additional 22,561,116 shares during the period. AJO LP boosted its stake in Aflac by 157.8% in the 2nd quarter. AJO LP now owns 3,483,353 shares of the financial services provider’s stock valued at $270,587,000 after purchasing an additional 2,132,414 shares during the period. Balyasny Asset Management LLC boosted its stake in Aflac by 1,351.2% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,311,615 shares of the financial services provider’s stock valued at $101,886,000 after purchasing an additional 1,221,231 shares during the period. Vanguard Group Inc. boosted its stake in Aflac by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 31,980,927 shares of the financial services provider’s stock valued at $2,316,059,000 after purchasing an additional 1,048,415 shares during the period. Finally, Coho Partners Ltd. boosted its stake in Aflac by 85.3% in the 2nd quarter. Coho Partners Ltd. now owns 2,186,934 shares of the financial services provider’s stock valued at $169,881,000 after purchasing an additional 1,006,477 shares during the period. Institutional investors and hedge funds own 65.63% of the company’s stock.
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Several analysts recently issued reports on the company. BidaskClub downgraded Aflac from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. ValuEngine upgraded Aflac from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded Aflac from a “hold” rating to a “buy” rating and set a $94.00 price target for the company in a research note on Thursday, September 21st. Royal Bank Of Canada restated a “sell” rating and issued a $71.00 price target on shares of Aflac in a research note on Tuesday. Finally, FBR & Co restated a “market perform” rating and issued a $80.00 price target (up from $68.00) on shares of Aflac in a research note on Wednesday, July 12th. 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 company’s stock. Aflac currently has a consensus rating of “Hold” and a consensus price target of $78.86.
Aflac Incorporated (NYSE:AFL) traded down 0.18% during mid-day trading on Wednesday, hitting $83.47. The stock had a trading volume of 257,110 shares. The firm’s 50-day moving average is $82.26 and its 200 day moving average is $77.86. The company has a market cap of $32.99 billion, a price-to-earnings ratio of 13.57 and a beta of 0.96. Aflac Incorporated has a 12 month low of $66.50 and a 12 month high of $84.51.
Aflac (NYSE:AFL) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.20. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Aflac had a return on equity of 13.09% and a net margin of 11.98%. The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.65 earnings per share. Equities analysts anticipate that Aflac Incorporated will post $6.69 EPS for the current fiscal year.
Aflac announced that its board has initiated a stock buyback plan on Tuesday, August 8th that allows the company to buyback 40,000,000 shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, Director Douglas Wayne Johnson sold 1,500 shares of Aflac stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $83.58, for a total transaction of $125,370.00. Following the completion of the sale, the director now owns 13,733 shares of the company’s stock, valued at $1,147,804.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Kriss Cloninger III sold 25,000 shares of Aflac stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $83.83, for a total value of $2,095,750.00. Following the sale, the president now directly owns 298,646 shares of the company’s stock, valued at approximately $25,035,494.18. The disclosure for this sale can be found here. Insiders have sold 31,899 shares of company stock valued at $2,662,483 in the last three months. 3.00% of the stock is owned by corporate 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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