Synovus Financial Corp Sells 7,313 Shares of AFLAC Incorporated (NYSE:AFL)
Synovus Financial Corp cut its holdings in shares of AFLAC Incorporated (NYSE:AFL) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,241,485 shares of the financial services provider’s stock after selling 7,313 shares during the period. AFLAC accounts for 0.9% of Synovus Financial Corp’s holdings, making the stock its 18th biggest holding. Synovus Financial Corp owned about 0.17% of AFLAC worth $65,679,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. KCS Wealth Advisory purchased a new stake in AFLAC during the third quarter valued at approximately $27,000. Atticus Wealth Management LLC purchased a new stake in AFLAC during the fourth quarter valued at approximately $34,000. S.A. Mason LLC purchased a new stake in AFLAC during the fourth quarter valued at approximately $40,000. Quest Capital Management Inc. ADV purchased a new stake in AFLAC during the third quarter valued at approximately $47,000. Finally, Bourgeon Capital Management LLC purchased a new stake in AFLAC during the third quarter valued at approximately $56,000. Hedge funds and other institutional investors own 69.17% of the company’s stock.
AFL has been the subject of a number of analyst reports. Raymond James decreased their target price on shares of AFLAC from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. JPMorgan Chase & Co. cut shares of AFLAC from an “overweight” rating to a “neutral” rating in a report on Thursday, January 2nd. Finally, Bank of America reaffirmed a “hold” rating and issued a $56.00 price target on shares of AFLAC in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. AFLAC currently has a consensus rating of “Hold” and an average target price of $54.80.
AFLAC (NYSE:AFL) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.01. AFLAC had a net margin of 14.81% and a return on equity of 11.76%. The firm had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter last year, the company posted $1.02 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. On average, equities analysts anticipate that AFLAC Incorporated will post 4.45 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Wednesday, February 19th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Tuesday, February 18th. This is a boost from AFLAC’s previous quarterly dividend of $0.27. AFLAC’s dividend payout ratio (DPR) is 24.32%.
In related news, EVP Audrey B. Tillman sold 24,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $51.81, for a total transaction of $1,243,440.00. Following the sale, the executive vice president now owns 123,414 shares in the company, valued at $6,394,079.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Richard Williams, Jr. sold 1,900 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $52.99, for a total transaction of $100,681.00. Company insiders own 1.30% of the company’s stock.
AFLAC Company Profile
Aflac Incorporated, through its subsidiaries, provides voluntary supplemental health and life insurance products. It operates through two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers voluntary supplemental insurance products, including cancer plans, general medical indemnity plans, medical/sickness riders, care plans, living benefit life plans, ordinary life insurance plans, and annuities in Japan.
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