Cetera Investment Advisers Acquires Shares of 7,770 Aflac Incorporated (AFL)
Cetera Investment Advisers acquired a new stake in Aflac Incorporated (NYSE:AFL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,770 shares of the financial services provider’s stock, valued at approximately $609,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Advisory Services Network LLC boosted its stake in shares of Aflac by 1.0% in the second quarter. Advisory Services Network LLC now owns 4,915 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 49 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Aflac in the second quarter valued at approximately $358,000. North Star Asset Management Inc. boosted its stake in shares of Aflac by 0.7% in the second quarter. North Star Asset Management Inc. now owns 58,802 shares of the financial services provider’s stock valued at $4,568,000 after purchasing an additional 395 shares during the period. GWM Advisors LLC boosted its stake in shares of Aflac by 15.0% in the second quarter. GWM Advisors LLC now owns 8,078 shares of the financial services provider’s stock valued at $627,000 after purchasing an additional 1,054 shares during the period. Finally, Verition Fund Management LLC purchased a new position in shares of Aflac in the second quarter valued at approximately $725,000. 65.60% of the stock is owned by institutional investors and hedge funds.
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In other news, President Kriss Cloninger III sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $83.83, for a total transaction of $2,095,750.00. Following the completion of the transaction, the president now directly owns 298,646 shares in the company, valued at approximately $25,035,494.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Douglas Wayne Johnson sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $83.58, for a total value of $125,370.00. Following the transaction, the director now owns 13,733 shares of the company’s stock, valued at $1,147,804.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,899 shares of company stock valued at $2,662,483. Company insiders own 3.00% of the company’s stock.
Aflac Incorporated (NYSE:AFL) traded down 0.17% during mid-day trading on Wednesday, reaching $83.62. 217,477 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $82.63 and its 200-day moving average price is $78.12. Aflac Incorporated has a 52 week low of $66.50 and a 52 week high of $84.68. The company has a market capitalization of $33.05 billion, a P/E ratio of 12.64 and a beta of 0.96.
Aflac (NYSE:AFL) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.20. The firm 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%. Aflac’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.65 EPS. On average, equities research analysts expect that Aflac Incorporated will post $6.69 earnings per share for the current fiscal year.
Aflac declared that its board has approved a stock buyback plan on Tuesday, August 8th that allows the company to buyback 40,000,000 shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Several research analysts have recently commented on AFL shares. Barclays PLC raised 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. Bank of America Corporation raised shares of Aflac from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $75.00 to $78.00 in a research note on Tuesday, July 4th. Zacks Investment Research lowered shares of Aflac from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Royal Bank Of Canada reissued a “sell” rating and issued a $66.00 price objective on shares of Aflac in a research note on Wednesday, July 12th. Finally, FBR & Co reissued 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. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Aflac currently has a consensus rating of “Hold” and an average price target of $79.63.
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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