Aflac Incorporated (AFL) Shares Bought by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can raised its position in shares of Aflac Incorporated (NYSE:AFL) by 56.0% during the second quarter, Holdings Channel reports. The fund owned 501,124 shares of the financial services provider’s stock after buying an additional 179,888 shares during the period. Great West Life Assurance Co. Can’s holdings in Aflac were worth $38,898,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of AFL. CWM LLC increased its stake 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 worth $101,000 after buying an additional 100 shares during the last quarter. Washington Trust Bank increased its stake in shares of 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. Harfst & Associates Inc. acquired a new stake in shares of Aflac during the first quarter worth $128,000. Sit Investment Associates Inc. increased its stake in shares of 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. Finally, Bollard Group LLC increased its stake in shares of Aflac by 0.6% in the first quarter. Bollard Group LLC now owns 2,325 shares of the financial services provider’s stock worth $168,000 after buying an additional 14 shares during the last quarter. 64.64% of the stock is owned by institutional investors.
Aflac Incorporated (NYSE AFL) opened at 80.82 on Friday. Aflac Incorporated has a one year low of $66.50 and a one year high of $81.80. The stock has a 50 day moving average price of $78.63 and a 200-day moving average price of $74.49. The firm has a market cap of $31.94 billion, a P/E ratio of 12.22 and a beta of 0.99.
Aflac (NYSE:AFL) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.20. Aflac had a return on equity of 13.09% and a net margin of 11.98%. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the previous year, the business posted $1.65 EPS. Aflac’s revenue for the quarter was down .2% on a year-over-year basis. Analysts predict that Aflac Incorporated will post $6.67 EPS for the current fiscal year.
Aflac declared that its board has authorized a stock buyback plan on Tuesday, August 8th that allows the company to buyback 40,000,000 outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Wednesday, August 23rd will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Monday, August 21st. Aflac’s dividend payout ratio (DPR) is presently 25.94%.
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A number of brokerages have weighed in on AFL. ValuEngine raised shares of Aflac from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. BidaskClub lowered shares of Aflac from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research lowered shares of Aflac from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. 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. Finally, Bank of America Corporation raised shares of Aflac from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $75.00 to $78.00 in a research note on Tuesday, July 4th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Aflac has a consensus rating of “Hold” and an average price target of $75.95.
In other news, President Kriss Cloninger III sold 2,500 shares of Aflac stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $77.72, for a total transaction of $194,300.00. Following the transaction, the president now owns 241,646 shares in the company, valued at approximately $18,780,727.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karole Lloyd acquired 1,000 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were acquired at an average price of $77.01 per share, for a total transaction of $77,010.00. Following the acquisition, the director now directly owns 7,253 shares in the company, valued at $558,553.53. The disclosure for this purchase can be found here. Insiders have sold a total of 240,203 shares of company stock worth $18,612,224 in the last quarter. 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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