Boston Financial Mangement LLC Has $971,000 Stake in Aflac Incorporated (AFL)
Boston Financial Mangement LLC lowered its stake in Aflac Incorporated (NYSE:AFL) by 24.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,502 shares of the financial services provider’s stock after selling 4,027 shares during the period. Boston Financial Mangement LLC’s holdings in Aflac were worth $971,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in AFL. CWM LLC boosted its position in 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 last quarter. Washington Trust Bank boosted 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 valued at $132,000 after buying an additional 16 shares during the last quarter. Harfst & Associates Inc. acquired a new position in Aflac during the first quarter valued at about $128,000. Sit Investment Associates Inc. boosted 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 valued at $166,000 after buying an additional 37 shares during the last quarter. Finally, Bollard Group LLC boosted its position 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 last quarter. Institutional investors and hedge funds own 64.64% of the company’s stock.
Shares of Aflac Incorporated (NYSE AFL) opened at 81.77 on Thursday. Aflac Incorporated has a 12-month low of $66.50 and a 12-month high of $81.80. The firm has a 50-day moving average price of $78.54 and a 200 day moving average price of $74.44. The firm has a market cap of $32.38 billion, a price-to-earnings ratio of 12.36 and a beta of 0.99.
Aflac (NYSE:AFL) last issued its earnings results on Thursday, July 27th. The financial services provider reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.20. Aflac had a return on equity of 13.09% and a net margin of 11.98%. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. The business’s quarterly revenue was down .2% compared to the same quarter last year. On average, equities research analysts anticipate that Aflac Incorporated will post $6.67 earnings per share for the current fiscal year.
Aflac announced that its Board of Directors has authorized a share repurchase program on Tuesday, August 8th that authorizes the company to repurchase 40,000,000 shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders 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 2.10%. Aflac’s dividend payout ratio is currently 25.94%.
Several research analysts have issued reports on the company. ValuEngine upgraded Aflac from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. BidaskClub cut Aflac from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Bank of America Corporation upgraded Aflac from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $75.00 to $78.00 in a research report on Tuesday, July 4th. Barclays PLC increased their price objective on Aflac from $71.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, July 3rd. Finally, Royal Bank Of Canada reiterated a “sell” rating and issued a $66.00 price objective on shares of Aflac in a research report on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. Aflac presently has an average rating of “Hold” and a consensus price target of $75.95.
In related news, Director Karole Lloyd purchased 1,000 shares of Aflac stock in a transaction on Monday, June 12th. The stock was bought 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 $558,553.53. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul S. Amos II sold 222,889 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $77.40, for a total value of $17,251,608.60. Following the completion of the sale, the insider now directly owns 329,540 shares of the company’s stock, valued at approximately $25,506,396. The disclosure for this sale can be found here. Insiders sold 240,203 shares of company stock valued at $18,612,224 in the last ninety days. 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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