Joel Isaacson & Co. LLC continued to hold its position in shares of Aflac Incorporated (NYSE:AFL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,840 shares of the financial services provider’s stock at the end of the second quarter. Joel Isaacson & Co. LLC’s holdings in Aflac were worth $454,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the company. Bollard Group LLC raised 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 worth $168,000 after buying an additional 14 shares during the period. Washington Trust Bank raised its stake in Aflac by 0.9% in the second quarter. Washington Trust Bank now owns 1,704 shares of the financial services provider’s stock worth $132,000 after buying an additional 16 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in Aflac by 0.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 7,259 shares of the financial services provider’s stock worth $564,000 after buying an additional 27 shares during the period. CWM LLC raised its stake in Aflac by 2.1% in the second quarter. CWM LLC now owns 1,430 shares of the financial services provider’s stock worth $111,000 after buying an additional 30 shares during the period. Finally, Berkshire Asset Management LLC PA raised its stake in Aflac by 0.6% in the second quarter. Berkshire Asset Management LLC PA now owns 5,756 shares of the financial services provider’s stock worth $447,000 after buying an additional 34 shares during the period. 64.59% of the stock is owned by institutional investors and hedge funds.
Shares of Aflac Incorporated (AFL) opened at 80.82 on Thursday. The company has a market cap of $31.94 billion, a price-to-earnings ratio of 12.22 and a beta of 0.99. The company’s 50 day moving average price is $79.02 and its 200 day moving average price is $74.84. Aflac Incorporated has a 12 month low of $66.50 and a 12 month high of $81.89.
Aflac (NYSE:AFL) last posted 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 business had revenue of $5.43 billion for 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%. The business’s revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.65 EPS. On average, equities analysts expect that Aflac Incorporated will post $6.69 EPS for the current fiscal year.
The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, August 21st. This represents a $1.72 annualized dividend and a yield of 2.13%. Aflac’s payout ratio is 25.94%.
Aflac announced that its board has authorized a stock buyback plan on Tuesday, August 8th that permits the company to buyback 40,000,000 outstanding shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
A number of equities research analysts have commented on AFL shares. Zacks Investment Research upgraded Aflac from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Friday, June 2nd. ValuEngine upgraded Aflac from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Barclays PLC upped their price target on Aflac from $71.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday, July 3rd. Deutsche Bank AG upped their price target on Aflac from $70.00 to $72.00 and gave the company a “hold” rating in a research report on Wednesday, April 19th. Finally, FBR & Co reiterated a “market perform” rating and issued a $80.00 price target (up previously from $68.00) on shares of Aflac in a research 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 issued a buy rating to the company. Aflac currently has a consensus rating of “Hold” and an average target price of $76.50.
In other news, Director Karole Lloyd acquired 1,000 shares of the business’s stock in a transaction on Monday, June 12th. The shares were acquired at an average cost of $77.01 per share, with a total value of $77,010.00. Following the transaction, the director now owns 7,253 shares in the company, valued at approximately $558,553.53. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul S. Amos II sold 222,889 shares of Aflac stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $77.40, for a total value of $17,251,608.60. Following the sale, the insider now directly owns 329,540 shares in the company, valued at $25,506,396. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 240,203 shares of company stock worth $18,612,224. Insiders own 3.00% of the company’s stock.
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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