Aflac Incorporated (AFL) Director Sells $107,129.04 in Stock
Aflac Incorporated (NYSE:AFL) Director Elizabeth J. Hudson sold 1,279 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $83.76, for a total transaction of $107,129.04. Following the transaction, the director now directly owns 11,075 shares of the company’s stock, valued at $927,642. The sale was disclosed in a document filed with the SEC, which is available through this link.
Aflac Incorporated (NYSE:AFL) opened at 83.94 on Monday. The stock has a 50 day moving average of $81.36 and a 200 day moving average of $76.68. Aflac Incorporated has a 12-month low of $66.50 and a 12-month high of $84.24. The firm has a market capitalization of $33.18 billion, a price-to-earnings ratio of 12.69 and a beta of 0.97.
Aflac (NYSE:AFL) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.20. The firm 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 business’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.65 EPS. Equities research analysts anticipate that Aflac Incorporated will post $6.69 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Wednesday, August 23rd were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.05%. The ex-dividend date was Monday, August 21st. Aflac’s dividend payout ratio (DPR) is presently 25.94%.
Aflac announced that its Board of Directors has initiated a stock buyback plan on Tuesday, August 8th that allows the company to repurchase 40,000,000 outstanding shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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A number of institutional investors have recently made changes to their positions in the business. Bollard Group LLC grew its holdings in shares of Aflac by 0.6% in the 2nd quarter. Bollard Group LLC now owns 2,339 shares of the financial services provider’s stock worth $182,000 after purchasing an additional 14 shares during the last quarter. Washington Trust Bank grew its holdings in shares of Aflac by 0.9% in the 2nd quarter. Washington Trust Bank now owns 1,704 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 16 shares during the last quarter. Balentine LLC grew its holdings in shares of Aflac by 0.3% in the 2nd quarter. Balentine LLC now owns 6,649 shares of the financial services provider’s stock worth $516,000 after purchasing an additional 18 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Aflac by 0.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 7,259 shares of the financial services provider’s stock worth $564,000 after purchasing an additional 27 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Aflac by 2.1% in the 2nd quarter. CWM LLC now owns 1,430 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 30 shares during the last quarter. 65.63% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have weighed in on AFL shares. Zacks Investment Research raised shares of Aflac from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a report on Friday, June 2nd. ValuEngine raised shares of Aflac from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, Barclays PLC raised their price objective on shares of Aflac from $73.00 to $79.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $77.41.
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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