State of Michigan Retirement System increased its holdings in shares of AFLAC Incorporated (NYSE:AFL) by 8.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 183,205 shares of the financial services provider’s stock after purchasing an additional 15,015 shares during the quarter. State of Michigan Retirement System’s holdings in AFLAC were worth $6,601,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. Victory Capital Management Inc. boosted its position in shares of AFLAC by 23.1% during the first quarter. Victory Capital Management Inc. now owns 7,359,904 shares of the financial services provider’s stock worth $252,003,000 after buying an additional 1,379,577 shares during the period. Rockefeller Capital Management L.P. boosted its position in AFLAC by 60.9% during the 1st quarter. Rockefeller Capital Management L.P. now owns 2,796,865 shares of the financial services provider’s stock worth $95,765,000 after acquiring an additional 1,058,863 shares during the last quarter. Maj Invest Holding A S grew its stake in shares of AFLAC by 19.8% during the 1st quarter. Maj Invest Holding A S now owns 5,743,272 shares of the financial services provider’s stock worth $196,651,000 after acquiring an additional 949,353 shares in the last quarter. APG Asset Management N.V. raised its holdings in shares of AFLAC by 10.3% in the first quarter. APG Asset Management N.V. now owns 9,749,367 shares of the financial services provider’s stock valued at $434,135,000 after purchasing an additional 910,939 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of AFLAC by 18.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,651,352 shares of the financial services provider’s stock valued at $125,022,000 after purchasing an additional 558,730 shares during the last quarter. Hedge funds and other institutional investors own 67.27% of the company’s stock.
A number of research analysts recently weighed in on AFL shares. Credit Suisse Group decreased their target price on shares of AFLAC from $45.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, April 27th. Zacks Investment Research downgraded AFLAC from a “buy” rating to a “hold” rating and set a $37.00 target price on the stock. in a research report on Tuesday, April 7th. Morgan Stanley increased their price target on AFLAC from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday. SunTrust Banks lowered their price target on AFLAC from $44.00 to $37.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, ValuEngine upgraded AFLAC from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $44.20.
Shares of NYSE AFL opened at $35.57 on Friday. The company has a current ratio of 0.07, a quick ratio of 0.05 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $25.52 billion, a P/E ratio of 8.89, a P/E/G ratio of 1.61 and a beta of 0.89. AFLAC Incorporated has a 12 month low of $23.07 and a 12 month high of $55.07. The stock has a 50 day moving average of $35.96 and a 200-day moving average of $39.78.
AFLAC (NYSE:AFL) last announced its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.23. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.49 billion. AFLAC had a return on equity of 11.98% and a net margin of 13.50%. The company’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.13 EPS. Analysts predict that AFLAC Incorporated will post 4.47 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Tuesday, August 18th. AFLAC’s payout ratio is 25.23%.
AFLAC Company Profile
Aflac Incorporated, through its subsidiaries, provides voluntary supplemental health and life insurance products. It operates through two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers voluntary supplemental insurance products, including cancer plans, general medical indemnity plans, medical/sickness riders, care plans, living benefit life plans, ordinary life insurance plans, and annuities in Japan.
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