Gofen & Glossberg LLC IL purchased a new position in AFLAC Incorporated (NYSE:AFL) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,891 shares of the financial services provider’s stock, valued at approximately $317,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Moors & Cabot Inc. purchased a new position in shares of AFLAC during the 3rd quarter valued at approximately $229,000. Belpointe Asset Management LLC purchased a new position in AFLAC in the 3rd quarter valued at $819,000. Wealthcare Advisory Partners LLC purchased a new position in AFLAC in the 3rd quarter valued at $279,000. Sterling Capital Management LLC lifted its holdings in AFLAC by 205.2% in the 3rd quarter. Sterling Capital Management LLC now owns 46,040 shares of the financial services provider’s stock valued at $3,747,000 after purchasing an additional 30,954 shares in the last quarter. Finally, Piedmont Investment Advisors LLC lifted its holdings in AFLAC by 1.4% in the 3rd quarter. Piedmont Investment Advisors LLC now owns 174,193 shares of the financial services provider’s stock valued at $14,178,000 after purchasing an additional 2,439 shares in the last quarter. 65.75% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have weighed in on AFL. Zacks Investment Research upgraded AFLAC from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Thursday, September 21st. Goldman Sachs Group began coverage on AFLAC in a report on Wednesday, October 18th. They issued a “neutral” rating and a $88.00 price objective on the stock. UBS reiterated an “overweight” rating on shares of AFLAC in a report on Thursday, August 24th. B. Riley reiterated a “neutral” rating on shares of AFLAC in a report on Monday, November 6th. Finally, Bank of America lowered AFLAC from a “neutral” rating to an “underperform” rating in a report on Friday, September 8th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. AFLAC has a consensus rating of “Hold” and an average target price of $79.79.
AFLAC (NYSE:AFL) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.07. The firm had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.48 billion. AFLAC had a return on equity of 12.87% and a net margin of 12.49%. The company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period last year, the company earned $1.74 EPS. analysts predict that AFLAC Incorporated will post 6.76 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.04%. This is an increase from AFLAC’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Tuesday, November 14th. AFLAC’s dividend payout ratio (DPR) is presently 26.09%.
In related news, insider Audrey B. Tillman sold 310 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,504,675.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Kriss Cloninger III sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $83.83, for a total value of $2,095,750.00. Following the sale, the president now directly owns 298,646 shares of the company’s stock, valued at $25,035,494.18. The disclosure for this sale can be found here. Insiders have sold a total of 34,766 shares of company stock valued at $2,936,060 over the last three months. Corporate 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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