Cullinan Associates Inc. raised its position in Aflac Incorporated (NYSE:AFL) by 1.6% during the second quarter, Holdings Channel reports. The firm owned 127,000 shares of the financial services provider’s stock after buying an additional 2,000 shares during the period. Cullinan Associates Inc.’s holdings in Aflac were worth $9,865,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC boosted its stake in Aflac by 7.7% in the first quarter. CWM LLC now owns 1,400 shares of the financial services provider’s stock valued at $101,000 after buying an additional 100 shares during the last quarter. Harfst & Associates Inc. purchased a new stake in Aflac during the first quarter valued at approximately $128,000. Bollard Group LLC boosted its stake in Aflac by 0.6% in the first quarter. Bollard Group LLC now owns 2,325 shares of the financial services provider’s stock valued at $168,000 after buying an additional 14 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Aflac by 0.3% in the first quarter. Quadrant Capital Group LLC now owns 2,391 shares of the financial services provider’s stock valued at $166,000 after buying an additional 7 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in Aflac by 64.1% in the first quarter. Parallel Advisors LLC now owns 2,715 shares of the financial services provider’s stock valued at $203,000 after buying an additional 1,061 shares during the last quarter. 64.46% of the stock is owned by institutional investors and hedge funds.
Shares of Aflac Incorporated (AFL) traded up 0.30% during trading on Tuesday, hitting $79.99. 447,614 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $77.96 and its 200 day moving average is $73.93. Aflac Incorporated has a 1-year low of $66.50 and a 1-year high of $80.64. The firm has a market capitalization of $31.68 billion, a PE ratio of 12.09 and a beta of 0.99.
Aflac (NYSE:AFL) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.83 earnings per share 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 company’s revenue for the quarter 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 forecast that Aflac Incorporated will post $6.51 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 23rd will be paid a $0.43 dividend. The ex-dividend date is Monday, August 21st. This represents a $1.72 annualized dividend and a yield of 2.16%. Aflac’s dividend payout ratio is presently 25.94%.
COPYRIGHT VIOLATION WARNING: “Cullinan Associates Inc. Acquires 2,000 Shares of Aflac Incorporated (NYSE:AFL)” was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States and international trademark and copyright legislation. The original version of this story can be accessed at https://stocknewstimes.com/2017/08/01/cullinan-associates-inc-acquires-2000-shares-of-aflac-incorporated-nyseafl.html.
Several analysts have commented on the stock. BidaskClub cut shares of Aflac from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Zacks Investment Research cut shares of Aflac from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. FBR & Co reaffirmed a “market perform” rating and issued a $80.00 target price (up from $68.00) on shares of Aflac in a research note on Wednesday, July 12th. Royal Bank Of Canada reaffirmed a “sell” rating and issued a $66.00 target price on shares of Aflac in a research note on Wednesday, July 12th. Finally, Bank of America Corp raised shares of Aflac from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $75.00 to $78.00 in a research note on Tuesday, July 4th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $75.54.
In other news, President Kriss Cloninger III sold 2,500 shares of the stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $77.72, for a total transaction of $194,300.00. Following the transaction, the president now owns 241,646 shares in the company, valued at approximately $18,780,727.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Karole Lloyd purchased 1,000 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were acquired at an average price of $77.01 per share, for a total transaction of $77,010.00. Following the purchase, the director now owns 7,253 shares in the company, valued at $558,553.53. The disclosure for this purchase can be found here. In the last quarter, insiders sold 236,703 shares of company stock worth $18,328,514. Company insiders own 3.00% of the company’s stock.
About Aflac
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.
Want to see what other hedge funds are holding AFL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aflac Incorporated (NYSE:AFL).
Receive News & Ratings for Aflac Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aflac Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.
