Dai Ichi Life Insurance Company Ltd grew its position in Aflac Incorporated (NYSE:AFL) by 7.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 217,385 shares of the financial services provider’s stock after purchasing an additional 15,486 shares during the quarter. Dai Ichi Life Insurance Company Ltd owned about 0.05% of Aflac worth $16,886,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bollard Group LLC grew its holdings in Aflac by 0.6% in the second quarter. Bollard Group LLC now owns 2,339 shares of the financial services provider’s stock worth $182,000 after purchasing an additional 14 shares during the last quarter. Washington Trust Bank grew its holdings 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 purchasing an additional 16 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings 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 purchasing an additional 27 shares during the last quarter. CWM LLC grew its holdings 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 purchasing an additional 30 shares during the last quarter. Finally, Berkshire Asset Management LLC PA grew its holdings 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 purchasing an additional 34 shares during the last quarter. 65.66% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have issued reports on AFL shares. UBS AG reaffirmed an “overweight” rating on shares of Aflac in a report on Thursday, August 24th. Zacks Investment Research raised shares of Aflac from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a report on Friday, June 2nd. Barclays PLC lifted their price target on shares of Aflac from $71.00 to $73.00 and gave the stock an “equal weight” rating in a report on Monday, July 3rd. Bank of America Corporation raised shares of Aflac from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $75.00 to $78.00 in a report on Tuesday, July 4th. Finally, Royal Bank Of Canada reaffirmed a “sell” rating and issued a $66.00 price target on shares of Aflac in a report on Wednesday, July 12th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $77.32.
In other Aflac news, Director Karole Lloyd acquired 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, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul S. Amos II sold 222,889 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $77.40, for a total transaction of $17,251,608.60. Following the transaction, 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. Insiders have sold a total of 240,203 shares of company stock worth $18,612,224 over the last three months. 3.00% of the stock is currently owned by insiders.
Aflac Incorporated (AFL) traded up 0.78% on Friday, reaching $81.18. 1,762,991 shares of the company were exchanged. Aflac Incorporated has a 52 week low of $66.50 and a 52 week high of $83.39. The stock has a market capitalization of $32.08 billion, a price-to-earnings ratio of 12.27 and a beta of 0.97. The stock has a 50-day moving average price of $80.45 and a 200 day moving average price of $76.08.
Aflac (NYSE:AFL) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.20. Aflac had a net margin of 11.98% and a return on equity of 13.09%. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same period last year, the firm posted $1.65 EPS. Aflac’s revenue for the quarter was down .2% on a year-over-year basis. Analysts forecast that Aflac Incorporated will post $6.69 earnings per share for the current year.
Aflac declared that its Board of Directors has initiated a stock buyback program on Tuesday, August 8th that allows the company to buyback 40,000,000 outstanding shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Wednesday, August 23rd were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.12%. The ex-dividend date was Monday, August 21st. Aflac’s payout ratio is currently 25.94%.
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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