Bessemer Group Inc. decreased its stake in Aflac Incorporated (NYSE:AFL) by 3.8% during the second quarter, Holdings Channel reports. The firm owned 82,577 shares of the financial services provider’s stock after selling 3,306 shares during the period. Bessemer Group Inc.’s holdings in Aflac were worth $6,415,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC increased its position 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 period. Washington Trust Bank increased its position in Aflac by 0.9% in the second 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. Harfst & Associates Inc. bought a new position in Aflac during the first quarter valued at $128,000. Sit Investment Associates Inc. increased its position in Aflac by 1.8% in the second quarter. Sit Investment Associates Inc. now owns 2,137 shares of the financial services provider’s stock valued at $166,000 after buying an additional 37 shares during the period. Finally, Bollard Group LLC increased its position 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 period. Hedge funds and other institutional investors own 64.64% of the company’s stock.
Shares of Aflac Incorporated (AFL) opened at 80.75 on Friday. The stock has a market cap of $31.91 billion, a PE ratio of 12.21 and a beta of 0.99. The stock has a 50 day moving average of $78.72 and a 200 day moving average of $74.57. Aflac Incorporated has a 1-year low of $66.50 and a 1-year high of $81.80.
Aflac (NYSE:AFL) last announced its earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.20. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Aflac had a net margin of 11.98% and a return on equity of 13.09%. The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.65 earnings per share. Equities research analysts forecast that Aflac Incorporated will post $6.67 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 23rd will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Monday, August 21st. Aflac’s payout ratio is currently 25.94%.
Aflac declared that its board has authorized a share repurchase plan on Tuesday, August 8th that permits the company to repurchase 40,000,000 shares. This repurchase authorization permits 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 of directors believes its stock is undervalued.
Several research firms recently weighed in on AFL. ValuEngine upgraded shares of Aflac from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. BidaskClub downgraded shares of Aflac from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Barclays PLC upped their price target on shares of Aflac from $73.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Friday. Zacks Investment Research downgraded shares of Aflac from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. Finally, 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 report on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $76.50.
In other Aflac news, President Kriss Cloninger III sold 3,500 shares of Aflac stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $81.06, for a total transaction of $283,710.00. Following the completion of the transaction, the president now owns 253,196 shares in the company, valued at $20,524,067.76. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Karole Lloyd bought 1,000 shares of the business’s stock in a transaction on Monday, June 12th. The shares were acquired at an average price of $77.01 per share, with a total value of $77,010.00. Following the transaction, the director now owns 7,253 shares of the company’s stock, valued at approximately $558,553.53. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 240,203 shares of company stock valued at $18,612,224. 3.00% of the stock is currently owned by company insiders.
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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