Nwam LLC Cuts Stake in Aflac Incorporated (AFL)
Nwam LLC cut its position in Aflac Incorporated (NYSE:AFL) by 4.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,371 shares of the financial services provider’s stock after selling 186 shares during the period. Nwam LLC’s holdings in Aflac were worth $340,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. CWM LLC raised 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 raised 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. purchased a new stake in shares of Aflac during the first quarter worth approximately $128,000. Sit Investment Associates Inc. raised 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 raised 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. Hedge funds and other institutional investors own 64.64% of the company’s stock.
Aflac Incorporated (AFL) opened at 80.75 on Friday. The stock’s 50 day moving average price is $78.72 and its 200 day moving average price is $74.57. Aflac Incorporated has a 12-month low of $66.50 and a 12-month high of $81.80. The company has a market cap of $31.91 billion, a PE ratio of 12.21 and a beta of 0.99.
Aflac (NYSE:AFL) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.20. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.65 earnings per share. Equities research analysts anticipate that Aflac Incorporated will post $6.67 EPS for the current year.
Aflac announced that its board has approved a stock repurchase program on Tuesday, August 8th that allows the company to buyback 40,000,000 shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently declared 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. The ex-dividend date is Monday, August 21st. This represents a $1.72 annualized dividend and a dividend yield of 2.13%. Aflac’s payout ratio is 25.94%.
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A number of analysts recently commented on the company. ValuEngine upgraded Aflac from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. BidaskClub lowered Aflac from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Barclays PLC boosted their target price on Aflac from $73.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Friday. Zacks Investment Research lowered Aflac from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. Finally, FBR & Co restated 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. 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 company’s stock. Aflac currently has an average rating of “Hold” and an average price target of $76.50.
In related news, President Kriss Cloninger III sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $81.06, for a total transaction of $283,710.00. Following the completion of the sale, the president now owns 253,196 shares of the company’s stock, valued at $20,524,067.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karole Lloyd bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were acquired at an average cost of $77.01 per share, with a total value of $77,010.00. Following the purchase, the director now directly owns 7,253 shares of the company’s stock, valued at $558,553.53. The disclosure for this purchase can be found here. Insiders have sold 240,203 shares of company stock valued at $18,612,224 in the last ninety days. 3.00% of the stock is currently owned by 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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