CIBC World Markets Inc. raised its stake in shares of Aflac Incorporated (NYSE:AFL) by 34.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,116 shares of the financial services provider’s stock after buying an additional 17,607 shares during the quarter. CIBC World Markets Inc.’s holdings in Aflac were worth $5,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Atwood & Palmer Inc. grew its holdings in 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 in the last quarter. CWM LLC grew its holdings in shares of Aflac by 2.1% in the second quarter. CWM LLC now owns 1,430 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 30 shares in the last quarter. Harfst & Associates Inc. purchased a new position in shares of Aflac in the first quarter valued at $128,000. Capital Analysts LLC purchased a new position in shares of Aflac in the second quarter valued at $131,000. Finally, Washington Trust Bank grew its holdings in shares of 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 purchasing an additional 16 shares in the last quarter. 65.66% of the stock is owned by institutional investors and hedge funds.
Shares of Aflac Incorporated (NYSE AFL) opened at 81.18 on Friday. Aflac Incorporated has a 12-month low of $66.50 and a 12-month high of $83.39. The company’s 50 day moving average price is $80.45 and its 200-day moving average price is $76.08. The firm has a market cap of $32.08 billion, a P/E ratio of 12.27 and a beta of 0.97.
Aflac (NYSE:AFL) last released its quarterly 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 firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.48 billion. Aflac had a return on equity of 13.09% and a net margin of 11.98%. The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $1.65 EPS. On average, equities research analysts anticipate that Aflac Incorporated will post $6.69 EPS for the current year.
Aflac declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 8th that authorizes the company to repurchase 40,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Wednesday, August 23rd were paid a $0.43 dividend. The ex-dividend date was Monday, August 21st. This represents a $1.72 annualized dividend and a dividend yield of 2.12%. Aflac’s dividend payout ratio (DPR) is currently 25.94%.
A number of research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Aflac from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a report on Tuesday, September 5th. ValuEngine upgraded Aflac from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Barclays PLC raised their price target on Aflac from $73.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. Bank of America Corporation downgraded Aflac from a “neutral” rating to an “underperform” rating in a research report on Friday. Finally, UBS AG restated an “overweight” rating on shares of Aflac in a research report on Thursday, August 24th. Four research 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 has a consensus rating of “Hold” and an average price target of $77.32.
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In related news, Director Karole Lloyd bought 1,000 shares of the stock in a transaction on Monday, June 12th. The shares were bought at an average cost of $77.01 per share, for a total transaction of $77,010.00. Following the purchase, the director now owns 7,253 shares of the company’s stock, valued at approximately $558,553.53. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Kriss Cloninger III sold 2,500 shares of Aflac stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $77.72, for a total value of $194,300.00. Following the completion of the transaction, the president now owns 241,646 shares in the company, valued at $18,780,727.12. The disclosure for this sale can be found here. Insiders sold a total of 240,203 shares of company stock worth $18,612,224 over the last quarter. Company insiders own 3.00% of the company’s stock.
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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