Bbva Compass Bancshares Inc. Increases Stake in Aflac Incorporated (NYSE:AFL)
Bbva Compass Bancshares Inc. boosted its stake in Aflac Incorporated (NYSE:AFL) by 4.4% during the second quarter, Holdings Channel reports. The fund owned 2,943 shares of the financial services provider’s stock after buying an additional 125 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Aflac were worth $229,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of AFL. Vanguard Group Inc. increased its position in Aflac by 3.4% in the first quarter. Vanguard Group Inc. now owns 31,980,927 shares of the financial services provider’s stock valued at $2,316,059,000 after buying an additional 1,048,415 shares during the last quarter. BlackRock Inc. increased its position in Aflac by 1,750.9% in the first quarter. BlackRock Inc. now owns 23,849,668 shares of the financial services provider’s stock valued at $1,727,193,000 after buying an additional 22,561,116 shares during the last quarter. State Street Corp increased its position in Aflac by 2.4% in the first quarter. State Street Corp now owns 21,858,806 shares of the financial services provider’s stock valued at $1,583,023,000 after buying an additional 505,060 shares during the last quarter. AQR Capital Management LLC increased its position in Aflac by 4.1% in the first quarter. AQR Capital Management LLC now owns 4,390,534 shares of the financial services provider’s stock valued at $317,962,000 after buying an additional 173,236 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Aflac by 8.4% in the first quarter. Geode Capital Management LLC now owns 4,076,593 shares of the financial services provider’s stock valued at $294,824,000 after buying an additional 314,506 shares during the last quarter. Institutional investors own 64.64% of the company’s stock.
Shares of Aflac Incorporated (NYSE AFL) opened at 80.82 on Friday. The stock has a market cap of $31.94 billion, a PE ratio of 12.22 and a beta of 0.99. 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 $78.63 and a 200 day moving average price of $74.49.
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, topping analysts’ consensus estimates of $1.63 by $0.20. The firm 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%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.65 earnings per share. On average, equities analysts expect that Aflac Incorporated will post $6.67 EPS for the current year.
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 paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Monday, August 21st. Aflac’s dividend payout ratio (DPR) is 25.94%.
Aflac announced that its board has approved a share repurchase program on Tuesday, August 8th that permits the company to repurchase 40,000,000 outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
AFL has been the subject of several research reports. Zacks Investment Research downgraded Aflac from a “buy” rating to a “hold” rating in a research note on Wednesday, May 31st. Bank of America Corporation upgraded Aflac from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $75.00 to $78.00 in a research note on Tuesday, July 4th. BidaskClub cut Aflac from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. ValuEngine raised Aflac from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, Raymond James Financial, Inc. raised Aflac from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a report on Tuesday, April 18th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Aflac presently has an average rating of “Hold” and a consensus target price of $75.95.
In other news, President Kriss Cloninger III sold 2,500 shares of the company’s 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 completion of the transaction, the president now owns 241,646 shares of the company’s stock, valued at $18,780,727.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul S. Amos II sold 222,889 shares of the company’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 transaction, 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. In the last ninety days, insiders sold 240,203 shares of company stock valued at $18,612,224. Corporate 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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