Investors Buy Aflac Inc. (AFL) on Weakness
Investors bought shares of Aflac Inc. (NYSE:AFL) on weakness during trading on Thursday. $41.73 million flowed into the stock on the tick-up and $20.42 million flowed out of the stock on the tick-down, for a money net flow of $21.31 million into the stock. Of all companies tracked, Aflac had the 16th highest net in-flow for the day. Aflac traded down ($0.04) for the day and closed at $73.32
Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Aflac from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Tuesday. JPMorgan Chase & Co. restated a “hold” rating on shares of Aflac in a research report on Wednesday, July 6th. Vetr upgraded shares of Aflac from a “hold” rating to a “buy” rating and set a $70.50 price objective for the company in a research report on Monday, June 27th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $67.00 target price (up from $64.00) on shares of Aflac in a report on Wednesday, April 27th. Finally, Morgan Stanley reiterated a “hold” rating on shares of Aflac in a report on Tuesday, April 26th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. Aflac currently has an average rating of “Hold” and a consensus price target of $69.25.
The company’s 50-day moving average price is $71.38 and its 200-day moving average price is $65.40. The stock has a market cap of $30.35 billion and a P/E ratio of 12.07.
Aflac (NYSE:AFL) last announced its quarterly earnings results on Thursday, July 28th. The company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.03. During the same period last year, the company earned $1.50 earnings per share. The company earned $5.44 billion during the quarter, compared to the consensus estimate of $5.45 billion. The business’s revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts forecast that Aflac Inc. will post $6.79 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Wednesday, August 24th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.24%.
In related news, VP Robin Y. Wilkey sold 3,065 shares of the business’s stock in a transaction that occurred on Friday, June 24th. The stock was sold at an average price of $70.23, for a total value of $215,254.95. Following the completion of the transaction, the vice president now directly owns 14,299 shares in the company, valued at approximately $1,004,218.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charles D. Lake II sold 17,791 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $68.48, for a total value of $1,218,327.68. Following the completion of the transaction, the insider now owns 46,547 shares of the company’s stock, valued at $3,187,538.56. The disclosure for this sale can be found here.
Several institutional investors have modified their holdings of AFL. GSA Capital Partners LLP raised its position in shares of Aflac by 62.9% in the fourth quarter. GSA Capital Partners LLP now owns 22,316 shares of the company’s stock valued at $1,337,000 after buying an additional 8,616 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Aflac during the fourth quarter valued at about $1,400,000. Pittenger & Anderson Inc. raised its position in shares of Aflac by 2.2% in the fourth quarter. Pittenger & Anderson Inc. now owns 23,855 shares of the company’s stock valued at $1,428,000 after buying an additional 515 shares in the last quarter. Stephens Inc. AR raised its position in shares of Aflac by 233.3% in the fourth quarter. Stephens Inc. AR now owns 26,988 shares of the company’s stock valued at $1,617,000 after buying an additional 18,891 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Aflac by 0.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,881 shares of the company’s stock valued at $1,670,000 after buying an additional 209 shares in the last quarter.
Aflac Incorporated is a business holding company. The Company engaged in is supplemental health and life insurance, which is marketed and administered through its subsidiary, American Family Life Assurance Company of Columbus (Aflac). Aflac’s insurance business consists of two segments: Aflac Japan and Aflac U.S.
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