Buckingham Asset Management LLC Sells 7,248 Shares of AFLAC Incorporated (NYSE:AFL)
Buckingham Asset Management LLC lowered its position in AFLAC Incorporated (NYSE:AFL) by 37.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,103 shares of the financial services provider’s stock after selling 7,248 shares during the period. Buckingham Asset Management LLC’s holdings in AFLAC were worth $414,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Solstein Capital LLC purchased a new position in shares of AFLAC in the 4th quarter worth approximately $26,000. NWK Group Inc. purchased a new stake in shares of AFLAC in the 4th quarter valued at $26,000. Atticus Wealth Management LLC purchased a new stake in shares of AFLAC in the 4th quarter valued at $34,000. S.A. Mason LLC purchased a new stake in shares of AFLAC in the 4th quarter valued at $40,000. Finally, Liberty Wealth Management LLC lifted its stake in shares of AFLAC by 858.5% in the 4th quarter. Liberty Wealth Management LLC now owns 786 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 704 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.
AFL has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of AFLAC from a “buy” rating to a “hold” rating and set a $37.00 price objective for the company. in a research report on Tuesday, April 7th. Raymond James dropped their price objective on shares of AFLAC from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, April 17th. ValuEngine raised shares of AFLAC from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 6th. Piper Sandler lowered their target price on shares of AFLAC from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, April 3rd. Finally, Credit Suisse Group reduced their price target on shares of AFLAC from $45.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. AFLAC presently has an average rating of “Hold” and an average price target of $45.51.
AFLAC (NYSE:AFL) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.11. AFLAC had a return on equity of 11.84% and a net margin of 13.49%. The company had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.49 billion. During the same quarter in the prior year, the business posted $1.12 earnings per share. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. On average, research analysts forecast that AFLAC Incorporated will post 4.33 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Wednesday, May 20th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Tuesday, May 19th. AFLAC’s dividend payout ratio is 25.23%.
In other news, COO Frederick John Crawford purchased 25,000 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was bought at an average cost of $28.69 per share, with a total value of $717,250.00. Following the purchase, the chief operating officer now directly owns 247,828 shares of the company’s stock, valued at $7,110,185.32. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Charles D. Lake II sold 16,530 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $51.81, for a total value of $856,419.30. Following the transaction, the director now directly owns 115,518 shares in the company, valued at approximately $5,984,987.58. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
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.
Want to see what other hedge funds are holding AFL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AFLAC Incorporated (NYSE:AFL).
Receive News & Ratings for AFLAC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AFLAC and related companies with MarketBeat.com's FREE daily email newsletter.