Accident Compensation Corp Sells 2,200 Shares of Aflac Incorporated (AFL)
Accident Compensation Corp decreased its position in Aflac Incorporated (NYSE:AFL) by 4.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,800 shares of the financial services provider’s stock after selling 2,200 shares during the period. Accident Compensation Corp’s holdings in Aflac were worth $3,791,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of AFL. BlackRock Inc. boosted its holdings 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 acquiring an additional 22,561,116 shares during the last quarter. AJO LP boosted its holdings in Aflac by 157.8% in the second quarter. AJO LP now owns 3,483,353 shares of the financial services provider’s stock valued at $270,587,000 after acquiring an additional 2,132,414 shares during the last quarter. Vanguard Group Inc. boosted its holdings 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 acquiring an additional 1,048,415 shares during the last quarter. Coho Partners Ltd. boosted its holdings in Aflac by 85.3% in the second quarter. Coho Partners Ltd. now owns 2,186,934 shares of the financial services provider’s stock valued at $169,881,000 after acquiring an additional 1,006,477 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. boosted its holdings in Aflac by 310,643.9% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 664,992 shares of the financial services provider’s stock valued at $51,656,000 after acquiring an additional 664,778 shares during the last quarter. Institutional investors and hedge funds own 65.66% of the company’s stock.
Several research firms recently issued reports on AFL. Zacks Investment Research upgraded Aflac from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a report on Tuesday, September 5th. ValuEngine upgraded Aflac from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Barclays PLC raised their price target on Aflac from $73.00 to $79.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. Bank of America Corporation cut Aflac from a “neutral” rating to an “underperform” rating in a report on Friday, September 8th. Finally, UBS AG restated an “overweight” rating on shares of Aflac in a report on Thursday, August 24th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. Aflac presently has an average rating of “Hold” and an average target price of $77.23.
In related news, insider Teresa L. White sold 11,314 shares of the company’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $78.01, for a total transaction of $882,605.14. Following the sale, the insider now owns 26,847 shares in the company, valued at approximately $2,094,334.47. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Kriss Cloninger III sold 3,500 shares of the company’s stock in a transaction dated 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 owns 253,196 shares in the company, valued at approximately $20,524,067.76. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.
Aflac Incorporated (AFL) traded up 0.85% during trading on Friday, hitting $82.81. The stock had a trading volume of 2,438,596 shares. Aflac Incorporated has a one year low of $66.50 and a one year high of $83.39. The stock has a 50 day moving average of $81.14 and a 200 day moving average of $76.46. The firm has a market capitalization of $32.73 billion, a P/E ratio of 12.52 and a beta of 0.97.
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 expect that Aflac Incorporated will post $6.69 earnings per share for the current fiscal year.
Aflac announced that its Board of Directors has approved a stock repurchase 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 an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Wednesday, August 23rd were paid a $0.43 dividend. The ex-dividend date was Monday, August 21st. This represents a $1.72 annualized dividend and a dividend yield of 2.08%. Aflac’s payout ratio is 25.94%.
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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