Wallington Asset Management LLC Lowers Position in Aflac Incorporated (AFL)
Wallington Asset Management LLC reduced its stake in shares of Aflac Incorporated (NYSE:AFL) by 3.3% during the second quarter, Holdings Channel reports. The institutional investor owned 60,762 shares of the financial services provider’s stock after selling 2,072 shares during the period. Wallington Asset Management LLC’s holdings in Aflac were worth $4,720,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC raised its position in shares of Aflac by 7.7% in the first quarter. CWM LLC now owns 1,400 shares of the financial services provider’s stock valued at $101,000 after buying an additional 100 shares during the period. Harfst & Associates Inc. purchased a new position in Aflac during the first quarter worth about $128,000. Washington Trust Bank raised its position in Aflac by 0.9% in the second quarter. Washington Trust Bank now owns 1,704 shares of the financial services provider’s stock worth $132,000 after buying an additional 16 shares during the last quarter. Quadrant Capital Group LLC raised its position in Aflac by 0.3% in the first quarter. Quadrant Capital Group LLC now owns 2,391 shares of the financial services provider’s stock worth $166,000 after buying an additional 7 shares during the last quarter. Finally, Sit Investment Associates Inc. raised its position in Aflac by 1.8% in the second quarter. Sit Investment Associates Inc. now owns 2,137 shares of the financial services provider’s stock worth $166,000 after buying an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 64.64% of the company’s stock.
Aflac Incorporated (NYSE AFL) traded up 0.01% during trading on Monday, hitting $81.17. 309,502 shares of the stock were exchanged. The stock has a market capitalization of $32.14 billion, a price-to-earnings ratio of 12.27 and a beta of 0.99. Aflac Incorporated has a 52 week low of $66.50 and a 52 week high of $81.55. The firm has a 50-day moving average of $78.05 and a 200-day moving average of $74.01.
Aflac (NYSE:AFL) last announced its earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating the Zacks’ 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 net margin of 11.98% and a return on equity of 13.09%. Aflac’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.65 earnings per share. Equities research analysts anticipate that Aflac Incorporated will post $6.67 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Wednesday, August 23rd will be given a $0.43 dividend. The ex-dividend date is Monday, August 21st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.12%. Aflac’s payout ratio is presently 25.94%.
AFL has been the subject of a number of research reports. ValuEngine raised shares of Aflac from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. BidaskClub downgraded shares of Aflac from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Bank of America Corporation raised shares of Aflac from an “underperform” rating to a “neutral” rating and increased their price target for the company from $75.00 to $78.00 in a report on Tuesday, July 4th. Barclays PLC increased their price target on shares of Aflac from $71.00 to $73.00 and gave the company an “equal weight” rating in a report on Monday, July 3rd. Finally, Royal Bank Of Canada reissued a “sell” rating and issued a $66.00 price target on shares of Aflac in a report on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $75.95.
In other news, Director Karole Lloyd acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was acquired at an average price of $77.01 per share, with a total value of $77,010.00. Following the completion of the transaction, the director now directly owns 7,253 shares of the company’s stock, valued at approximately $558,553.53. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Teresa L. White sold 11,314 shares of the company’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $78.01, for a total transaction of $882,605.14. Following the sale, the insider now directly owns 26,847 shares of the company’s stock, valued at approximately $2,094,334.47. The disclosure for this sale can be found here. In the last three months, insiders sold 236,703 shares of company stock valued at $18,328,514. 3.00% of the stock is currently owned by company 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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