Raymond James Trust N.A. grew its stake in shares of Aflac Incorporated (NYSE:AFL) by 15.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,304 shares of the financial services provider’s stock after acquiring an additional 3,071 shares during the period. Raymond James Trust N.A.’s holdings in Aflac were worth $1,811,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in AFL. Canada Pension Plan Investment Board grew its position in shares of Aflac by 550.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 53,277 shares of the financial services provider’s stock valued at $3,858,000 after acquiring an additional 45,081 shares during the period. Advisory Services Network LLC bought a new position in shares of Aflac during the 1st quarter valued at approximately $352,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Aflac by 3.3% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 65,312 shares of the financial services provider’s stock valued at $4,730,000 after acquiring an additional 2,110 shares during the period. Sentinel Trust Co. LBA grew its position in shares of Aflac by 14.3% during the 1st quarter. Sentinel Trust Co. LBA now owns 63,554 shares of the financial services provider’s stock valued at $4,602,000 after acquiring an additional 7,971 shares during the period. Finally, Cliftonlarsonallen Wealth Advisors LLC grew its position in shares of Aflac by 16.4% during the 1st quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 11,686 shares of the financial services provider’s stock valued at $846,000 after acquiring an additional 1,644 shares during the period. 65.66% of the stock is owned by hedge funds and other institutional investors.
In other Aflac news, President Kriss Cloninger III sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $81.06, for a total value of $283,710.00. Following the completion of the transaction, the president now directly owns 253,196 shares in the company, valued at $20,524,067.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Teresa L. White sold 11,314 shares of the company’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $78.01, for a total transaction of $882,605.14. Following the transaction, the insider now owns 26,847 shares of the company’s stock, valued at approximately $2,094,334.47. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,314 shares of company stock valued at $1,360,615. Company insiders own 3.00% of the company’s stock.
Aflac Incorporated (AFL) traded down 0.2334% during mid-day trading on Tuesday, reaching $82.2775. 316,598 shares of the company’s stock traded hands. The company has a market cap of $32.52 billion, a P/E ratio of 12.4399 and a beta of 0.97. Aflac Incorporated has a 12-month low of $66.50 and a 12-month high of $83.39. The stock has a 50 day moving average of $80.54 and a 200 day moving average of $76.18.
Aflac (NYSE:AFL) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.20. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.48 billion. Aflac had a net margin of 11.98% and a return on equity of 13.09%. The company’s revenue was down .2% on a year-over-year basis. During the same period in the prior year, the business posted $1.65 earnings per share. On average, equities research analysts predict that Aflac Incorporated will post $6.69 earnings per share for the current fiscal year.
Aflac declared that its Board of Directors has authorized a share buyback program on Tuesday, August 8th that authorizes the company to buyback 40,000,000 shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Wednesday, August 23rd were given a $0.43 dividend. The ex-dividend date was Monday, August 21st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.09%. Aflac’s payout ratio is currently 25.94%.
A number of research firms have recently weighed in on AFL. Zacks Investment Research downgraded shares of Aflac from a “buy” rating to a “hold” rating in a research report on Friday. Bank of America Corporation downgraded shares of Aflac from a “neutral” rating to an “underperform” rating in a research report on Friday. UBS AG reissued an “overweight” rating on shares of Aflac in a research report on Thursday, August 24th. Barclays PLC increased their target price on shares of Aflac from $73.00 to $79.00 and gave the company an “equal weight” rating in a research report on Friday, August 11th. Finally, ValuEngine raised shares of Aflac from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Aflac presently has a consensus rating of “Hold” and a consensus price target of $77.32.
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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