QV Investors Inc. Decreases Position in Aflac Incorporated (AFL)

QV Investors Inc. cut its holdings in shares of Aflac Incorporated (NYSE:AFL) by 7.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 532,820 shares of the financial services provider’s stock after selling 42,660 shares during the period. Aflac comprises approximately 3.6% of QV Investors Inc.’s investment portfolio, making the stock its 11th biggest holding. QV Investors Inc. owned approximately 0.13% of Aflac worth $43,366,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AFL. Atwood & Palmer Inc. lifted its position in Aflac by 320.5% during the second quarter. Atwood & Palmer Inc. now owns 1,312 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 1,000 shares during the period. CWM LLC lifted its position in Aflac by 2.1% during 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 during the period. Harfst & Associates Inc. acquired a new position in Aflac during the first quarter valued at $128,000. Capital Analysts LLC acquired a new position in Aflac during the second quarter valued at $131,000. Finally, Washington Trust Bank lifted its position in Aflac by 0.9% during 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 during the period. Institutional investors own 65.83% of the company’s stock.

Aflac (NYSE:AFL) last issued its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.07. The business had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.48 billion. Aflac had a net margin of 12.49% and a return on equity of 12.87%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.74 earnings per share.

Aflac announced that its board has initiated a stock buyback program on Tuesday, August 8th that authorizes the company to repurchase 40,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This is an increase from Aflac’s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.15%. Aflac’s payout ratio is 24.93%.

In related news, insider James Todd Daniels sold 620 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $81.49, for a total value of $50,523.80. Following the sale, the insider now directly owns 15,454 shares of the company’s stock, valued at $1,259,346.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Audrey B. Tillman sold 310 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $83.57, for a total transaction of $25,906.70. Following the completion of the sale, the insider now directly owns 41,937 shares in the company, valued at $3,504,675.09. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,209 shares of company stock valued at $2,688,390. Insiders own 3.00% of the company’s stock.

A number of research firms have weighed in on AFL. Zacks Investment Research raised shares of Aflac from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Thursday, September 21st. FBR & Co reaffirmed 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. Goldman Sachs Group, Inc. (The) began coverage on shares of Aflac in a report on Wednesday, October 18th. They issued a “neutral” rating and a $88.00 price objective for the company. UBS AG reaffirmed an “overweight” rating on shares of Aflac in a report on Thursday, August 24th. Finally, Royal Bank Of Canada reaffirmed a “sell” rating and issued a $66.00 price objective on shares of Aflac in a report on Wednesday, July 12th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $79.63.

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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.

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Institutional Ownership by Quarter for Aflac (NYSE:AFL)

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