Smead Capital Management Inc. Sells 31,195 Shares of Aflac Incorporated (NYSE:AFL)
Smead Capital Management Inc. decreased its position in Aflac Incorporated (NYSE:AFL) by 2.3% during the second quarter, Holdings Channel reports. The firm owned 1,323,632 shares of the financial services provider’s stock after selling 31,195 shares during the period. Aflac makes up 5.0% of Smead Capital Management Inc.’s investment portfolio, making the stock its 9th largest position. Smead Capital Management Inc.’s holdings in Aflac were worth $102,820,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of 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 worth $101,000 after buying an additional 100 shares during the period. Washington Trust Bank raised its position 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 period. Harfst & Associates Inc. bought a new position in shares of Aflac during the first quarter worth approximately $128,000. Sit Investment Associates Inc. raised its position 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 period. Finally, Bollard Group LLC raised its position 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 period. 64.64% of the stock is currently owned by institutional investors and hedge funds.
Aflac Incorporated (NYSE:AFL) opened at 80.82 on Friday. The stock has a market capitalization of $31.94 billion, a price-to-earnings ratio of 12.22 and a beta of 0.99. The firm has a 50-day moving average of $78.63 and a 200 day moving average of $74.49. Aflac Incorporated has a 12-month low of $66.50 and a 12-month high of $81.80.
Aflac (NYSE:AFL) last released its earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.20. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.48 billion. Aflac had a net margin of 11.98% and a return on equity of 13.09%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the prior year, the business earned $1.65 EPS. On average, analysts predict that Aflac Incorporated will post $6.67 earnings per share for the current fiscal year.
Aflac announced that its Board of Directors has approved a share buyback plan 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. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
The company also recently disclosed 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. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Monday, August 21st. Aflac’s dividend payout ratio is presently 25.94%.
A number of brokerages have recently commented on AFL. ValuEngine raised shares of Aflac from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. BidaskClub lowered shares of Aflac from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered shares of Aflac from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. FBR & Co reaffirmed a “market perform” rating and set a $80.00 target price (up from $68.00) on shares of Aflac in a research report on Wednesday, July 12th. Finally, Bank of America Corporation raised shares of Aflac from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $75.00 to $78.00 in a research report on Tuesday, July 4th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $75.95.
In other Aflac news, President Kriss Cloninger III sold 3,500 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $81.06, for a total value of $283,710.00. Following the sale, the president now directly owns 253,196 shares of the company’s stock, valued at approximately $20,524,067.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Karole Lloyd acquired 1,000 shares of the company’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 completion of the transaction, the director now owns 7,253 shares in the company, valued at approximately $558,553.53. The disclosure for this purchase can be found here. Over the last three months, insiders sold 240,203 shares of company stock worth $18,612,224. Insiders own 3.00% of the company’s stock.
Aflac Company Profile
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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