Lowe Brockenbrough & Co. Inc. Invests $204,000 in Aflac Incorporated (AFL) Stock
Lowe Brockenbrough & Co. Inc. purchased a new stake in shares of Aflac Incorporated (NYSE:AFL) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,510 shares of the financial services provider’s stock, valued at approximately $204,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Atwood & Palmer Inc. lifted its holdings in shares of Aflac by 320.5% during the 2nd quarter. Atwood & Palmer Inc. now owns 1,312 shares of the financial services provider’s stock valued at $102,000 after buying an additional 1,000 shares during the period. CWM LLC lifted its holdings in shares of Aflac by 2.1% during the 2nd quarter. CWM LLC now owns 1,430 shares of the financial services provider’s stock valued at $111,000 after buying an additional 30 shares during the period. Capital Analysts LLC bought a new position in shares of Aflac during the 2nd quarter valued at $131,000. Washington Trust Bank lifted its holdings in shares of Aflac by 0.9% during the 2nd quarter. Washington Trust Bank now owns 1,704 shares of the financial services provider’s stock valued at $132,000 after buying an additional 16 shares during the period. Finally, ClariVest Asset Management LLC bought a new position in shares of Aflac during the 2nd quarter valued at $150,000. 66.69% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the company. Wells Fargo & Company set a $82.00 price target on Aflac and gave the company a “hold” rating in a report on Wednesday, October 25th. Citigroup Inc. cut Aflac from a “neutral” rating to a “sell” rating and lowered their price target for the company from $82.00 to $77.00 in a report on Tuesday, September 26th. Zacks Investment Research cut Aflac from a “buy” rating to a “hold” rating in a report on Monday, September 25th. The Goldman Sachs Group, Inc. initiated coverage on Aflac in a report on Wednesday, October 18th. They issued a “neutral” rating and a $88.00 target price on the stock. Finally, B. Riley reaffirmed a “neutral” rating on shares of Aflac in a report on Monday, November 6th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. Aflac currently has an average rating of “Hold” and an average price target of $79.63.
In other news, President Kriss Cloninger III sold 25,000 shares of the firm’s stock in a transaction dated 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 owns 298,646 shares in the company, valued at $25,035,494.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Douglas Wayne Johnson sold 1,500 shares of the firm’s stock in a transaction dated 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 approximately $1,147,804.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,709 shares of company stock valued at $2,404,680. Company insiders own 3.00% of the company’s stock.
Shares of Aflac Incorporated (AFL) traded down $0.13 during mid-day trading on Friday, reaching $84.31. The company’s stock had a trading volume of 1,335,000 shares, compared to its average volume of 1,786,501. Aflac Incorporated has a 1-year low of $66.50 and a 1-year high of $85.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.07 and a quick ratio of 0.07. The stock has a market cap of $32,930.00, a price-to-earnings ratio of 12.53, a PEG ratio of 2.50 and a beta of 1.00.
Aflac (NYSE:AFL) last issued its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $1.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.07. Aflac had a return on equity of 12.87% and a net margin of 12.49%. The business had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the prior year, the business posted $1.74 EPS. Aflac’s revenue for the quarter was down 3.7% compared to the same quarter last year. equities analysts anticipate that Aflac Incorporated will post 6.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.45 per share. This is a positive change from Aflac’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.13%. Aflac’s dividend payout ratio (DPR) is presently 26.12%.
Aflac declared that its Board of Directors has authorized a share buyback plan on Tuesday, August 8th that permits the company to buyback 40,000,000 shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
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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