HBK Sorce Advisory LLC acquired a new stake in Aflac Incorporated (NYSE:AFL – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,910 shares of the financial services provider’s stock, valued at approximately $993,000.
A number of other institutional investors and hedge funds have also made changes to their positions in AFL. Whipplewood Advisors LLC purchased a new position in shares of Aflac during the first quarter worth about $25,000. Groupe la Francaise purchased a new stake in Aflac during the 1st quarter valued at approximately $25,000. Quarry LP acquired a new stake in Aflac during the 4th quarter worth approximately $25,000. Nalls Sherbakoff Group LLC purchased a new position in shares of Aflac in the 4th quarter valued at approximately $29,000. Finally, Evergreen Advisors LLC acquired a new position in shares of Aflac in the first quarter valued at approximately $29,000. 67.44% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, major shareholder Post Holdings Co. Ltd. Japan sold 63,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $118.12, for a total value of $7,441,560.00. Following the completion of the sale, the insider owned 51,169,435 shares in the company, valued at $6,044,133,662.20. This trade represents a 0.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 578,333 shares of company stock valued at $67,710,836. Company insiders own 0.80% of the company’s stock.
Aflac Stock Down 0.1%
Aflac (NYSE:AFL – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.76 by ($0.01). Aflac had a return on equity of 13.27% and a net margin of 26.91%.The business had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter in the previous year, the company posted $1.78 EPS. The company’s revenue was down 1.0% compared to the same quarter last year. On average, sell-side analysts predict that Aflac Incorporated will post 7.04 EPS for the current fiscal year.
Aflac Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, August 19th. Aflac’s dividend payout ratio (DPR) is currently 26.15%.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price target on Aflac from $117.00 to $116.00 and set a “neutral” rating for the company in a report on Tuesday, August 11th. Wall Street Zen cut shares of Aflac from a “hold” rating to a “sell” rating in a research note on Saturday. Keefe, Bruyette & Woods upped their price objective on shares of Aflac from $120.00 to $125.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 11th. Wells Fargo & Company raised their target price on shares of Aflac from $111.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $124.00 target price (up from $114.00) on shares of Aflac in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $117.58.
Read Our Latest Stock Report on AFL
Aflac Profile
Aflac Incorporated (American Family Life Assurance Company of Columbus) is a provider of supplemental insurance products designed to help policyholders manage out-of-pocket health care and living expenses. The company underwrites a range of individual and group policies that typically pay cash benefits directly to insureds when covered events occur, enabling greater financial flexibility for medical treatment, hospital stays, critical illness, and related costs. Aflac’s product mix includes supplemental health insurance, life insurance and other specialty coverages intended to complement primary medical plans.
Founded in the mid-20th century and headquartered in Columbus, Georgia, Aflac distributes its products through a combination of employer-sponsored programs, independent brokers and agents, and direct marketing.
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