Hartford Investment Management Co. Lowers Position in Aflac Incorporated (NYSE:AFL)
Hartford Investment Management Co. reduced its stake in shares of Aflac Incorporated (NYSE:AFL) by 5.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 92,458 shares of the financial services provider’s stock after selling 5,536 shares during the period. Hartford Investment Management Co.’s holdings in Aflac were worth $7,182,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its stake 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 valued at $166,000 after buying an additional 7 shares during the period. Bollard Group LLC boosted its stake in Aflac by 0.6% in the first quarter. Bollard Group LLC now owns 2,325 shares of the financial services provider’s stock valued at $168,000 after buying an additional 14 shares during the period. Washington Trust Bank boosted its stake in Aflac by 0.9% in the second quarter. Washington Trust Bank now owns 1,704 shares of the financial services provider’s stock valued at $132,000 after buying an additional 16 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in Aflac by 0.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 7,259 shares of the financial services provider’s stock valued at $564,000 after buying an additional 27 shares during the period. Finally, CWM LLC boosted its stake in Aflac by 2.1% in the second quarter. CWM LLC now owns 1,430 shares of the financial services provider’s stock valued at $111,000 after buying an additional 30 shares during the period. 64.64% of the stock is owned by institutional investors.
Aflac Incorporated (AFL) traded up 0.3945% on Tuesday, reaching $81.4199. The company’s stock had a trading volume of 280,035 shares. The firm’s 50-day moving average price is $78.05 and its 200-day moving average price is $74.01. Aflac Incorporated has a 52-week low of $66.50 and a 52-week high of $81.58. The stock has a market cap of $32.24 billion, a price-to-earnings ratio of 12.3102 and a beta of 0.99.
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, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.20. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.48 billion. Aflac had a return on equity of 13.09% and a net margin of 11.98%. Aflac’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the company earned $1.65 EPS. On average, equities analysts expect that Aflac Incorporated will post $6.67 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 23rd will be issued a dividend of $0.43 per share. The ex-dividend date is Monday, August 21st. This represents a $1.72 dividend on an annualized basis and a yield of 2.12%. Aflac’s payout ratio is currently 25.94%.
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Several research firms have recently commented on AFL. Vetr raised Aflac from a “hold” rating to a “buy” rating and set a $77.50 target price for the company in a research note on Tuesday, April 18th. BidaskClub cut Aflac from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. ValuEngine raised Aflac from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised Aflac from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Monday, April 17th. Finally, FBR & Co reaffirmed a “market perform” rating and set a $80.00 price objective (up from $68.00) on shares of Aflac in a research note on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $75.95.
In other Aflac news, Director Karole Lloyd purchased 1,000 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was purchased at an average cost of $77.01 per share, for a total transaction of $77,010.00. Following the acquisition, the director now owns 7,253 shares in the company, valued at approximately $558,553.53. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, President Kriss Cloninger III sold 2,500 shares of the stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $77.72, for a total value of $194,300.00. Following the sale, the president now owns 241,646 shares of the company’s stock, valued at $18,780,727.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 240,203 shares of company stock valued at $18,612,224. Company insiders own 3.00% of the company’s stock.
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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