Rafferty Asset Management LLC trimmed its stake in Aflac Incorporated (NYSE:AFL) by 64.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,667 shares of the financial services provider’s stock after selling 103,543 shares during the period. Rafferty Asset Management LLC’s holdings in Aflac were worth $4,480,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Mutual of America Capital Management LLC grew its position in shares of Aflac by 1.0% in the 2nd quarter. Mutual of America Capital Management LLC now owns 48,371 shares of the financial services provider’s stock valued at $3,757,000 after buying an additional 468 shares during the last quarter. New York State Common Retirement Fund grew its position in shares of Aflac by 12.1% in the 2nd quarter. New York State Common Retirement Fund now owns 1,457,200 shares of the financial services provider’s stock valued at $113,195,000 after buying an additional 157,297 shares during the last quarter. Investec Asset Management North America Inc. grew its position in shares of Aflac by 7.0% in the 2nd quarter. Investec Asset Management North America Inc. now owns 24,126 shares of the financial services provider’s stock valued at $1,874,000 after buying an additional 1,583 shares during the last quarter. Laurion Capital Management LP grew its position in shares of Aflac by 201.8% in the 2nd quarter. Laurion Capital Management LP now owns 188,000 shares of the financial services provider’s stock valued at $14,604,000 after buying an additional 125,703 shares during the last quarter. Finally, BT Investment Management Ltd purchased a new position in shares of Aflac in the 2nd quarter valued at $8,658,000. 65.63% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Aflac Incorporated (NYSE:AFL) traded up 0.30% during mid-day trading on Tuesday, reaching $83.40. 352,810 shares of the company were exchanged. The firm has a market capitalization of $32.96 billion, a price-to-earnings ratio of 12.61 and a beta of 0.97. The company’s 50-day moving average is $81.25 and its 200 day moving average is $76.60. Aflac Incorporated has a 12 month low of $66.50 and a 12 month high of $83.70.
Aflac (NYSE:AFL) last released its earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share for the quarter, beating the 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 firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the previous year, the firm earned $1.65 earnings per share. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. Analysts predict that Aflac Incorporated will post $6.69 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Wednesday, August 23rd were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Monday, August 21st. This represents a $1.72 annualized dividend and a yield of 2.07%. Aflac’s payout ratio is 25.94%.
Aflac declared that its board has approved a stock repurchase program on Tuesday, August 8th that permits the company to buyback 40,000,000 shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
In other Aflac news, insider Teresa L. White sold 11,314 shares of the business’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $78.01, for a total transaction of $882,605.14. Following the completion of the sale, the insider now owns 26,847 shares in the company, valued at $2,094,334.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Kriss Cloninger III sold 3,500 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $81.06, for a total transaction of $283,710.00. Following the sale, the president now owns 253,196 shares of the company’s stock, valued at approximately $20,524,067.76. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.
AFL has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Aflac from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research report on Friday, June 2nd. ValuEngine raised shares of Aflac from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. 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, FBR & Co reaffirmed a “market perform” rating and issued a $80.00 target price (up from $68.00) on shares of Aflac in a research report on Wednesday, July 12th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Aflac currently has an average rating of “Hold” and a consensus price target of $77.23.
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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