BT Investment Management Ltd Takes Position in Aflac Incorporated (AFL)
BT Investment Management Ltd acquired a new stake in Aflac Incorporated (NYSE:AFL) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 111,459 shares of the financial services provider’s stock, valued at approximately $8,658,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. Destination Wealth Management increased its stake in Aflac by 1.7% in the 2nd quarter. Destination Wealth Management now owns 276,302 shares of the financial services provider’s stock valued at $21,463,000 after buying an additional 4,738 shares during the period. Amalgamated Bank increased its stake in Aflac by 54.7% in the 2nd quarter. Amalgamated Bank now owns 43,877 shares of the financial services provider’s stock valued at $3,408,000 after buying an additional 15,522 shares during the period. KCM Investment Advisors LLC increased its stake in Aflac by 6.9% in the 2nd quarter. KCM Investment Advisors LLC now owns 13,321 shares of the financial services provider’s stock valued at $1,035,000 after buying an additional 855 shares during the period. Dorsey & Whitney Trust CO LLC acquired a new position in Aflac in the 2nd quarter valued at approximately $223,000. Finally, Norinchukin Bank The increased its stake in Aflac by 1.4% in the 2nd quarter. Norinchukin Bank The now owns 38,374 shares of the financial services provider’s stock valued at $2,981,000 after buying an additional 524 shares during the period. Hedge funds and other institutional investors own 65.66% of the company’s stock.
Aflac Incorporated (NYSE AFL) opened at 82.81 on Friday. The stock’s 50 day moving average is $81.14 and its 200-day moving average is $76.46. Aflac Incorporated has a 12-month low of $66.50 and a 12-month high of $83.39. The company 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 released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.20. Aflac had a net margin of 11.98% and a return on equity of 13.09%. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same period in the previous year, the company earned $1.65 earnings per share. The company’s quarterly revenue was down .2% on a year-over-year basis. On average, equities analysts predict that Aflac Incorporated will post $6.69 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Wednesday, August 23rd were issued 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 dividend payout ratio is currently 25.94%.
Aflac announced that its Board of Directors has initiated a share buyback plan on Tuesday, August 8th that allows the company to repurchase 40,000,000 shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
Several research firms have weighed in on AFL. Zacks Investment Research upgraded shares of Aflac from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research note on Friday, June 2nd. FBR & Co reiterated a “market perform” rating and issued a $80.00 price objective (up previously from $68.00) on shares of Aflac in a research note on Wednesday, July 12th. UBS AG reiterated an “overweight” rating on shares of Aflac in a research note on Thursday, August 24th. Barclays PLC upped their price objective on shares of Aflac from $71.00 to $73.00 and gave the company an “equal weight” rating in a research note on Monday, July 3rd. Finally, Royal Bank Of Canada reiterated a “sell” rating and issued a $66.00 price objective on shares of Aflac in a research note on Wednesday, July 12th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $77.23.
In other Aflac news, President Kriss Cloninger III sold 3,500 shares of the company’s stock in a transaction 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 transaction, the president now directly owns 253,196 shares in the company, valued at $20,524,067.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Teresa L. White sold 11,314 shares of the company’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $78.01, for a total transaction of $882,605.14. Following the completion of the transaction, the insider now owns 26,847 shares in the company, valued at $2,094,334.47. The disclosure for this sale can be found here. 3.00% of the stock is 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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