Public Employees Retirement Association of Colorado cut its stake in Aflac Incorporated (NYSE:AFL) by 0.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 71,913 shares of the financial services provider’s stock after selling 539 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Aflac were worth $5,586,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Pinnacle Bank purchased a new stake in Aflac during the first quarter valued at $204,000. CWM LLC boosted its stake in Aflac by 7.7% in the first quarter. CWM LLC now owns 1,400 shares of the financial services provider’s stock valued at $101,000 after buying an additional 100 shares during the last quarter. Americafirst Capital Management LLC boosted its stake in Aflac by 524.6% in the first quarter. Americafirst Capital Management LLC now owns 7,083 shares of the financial services provider’s stock valued at $513,000 after buying an additional 5,949 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in Aflac during the first quarter valued at $263,000. Finally, Atria Investments LLC boosted its stake in Aflac by 31.8% in the first quarter. Atria Investments LLC now owns 33,840 shares of the financial services provider’s stock valued at $2,451,000 after buying an additional 8,156 shares during the last quarter. 64.64% of the stock is currently owned by institutional investors.
Aflac Incorporated (AFL) opened at 81.77 on Thursday. Aflac Incorporated has a 12-month low of $66.50 and a 12-month high of $81.80. The stock has a market capitalization of $32.38 billion, a price-to-earnings ratio of 12.36 and a beta of 0.99. The stock’s 50 day moving average is $78.54 and its 200 day moving average is $74.44.
Aflac (NYSE:AFL) last announced its earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.20. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.48 billion. Aflac had a net margin of 11.98% and a return on equity of 13.09%. Aflac’s revenue was down .2% compared to the same quarter last year. During the same period last year, the firm earned $1.65 earnings per share. Equities analysts predict that Aflac Incorporated will post $6.67 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 23rd will be paid a $0.43 dividend. The ex-dividend date of this dividend is Monday, August 21st. This represents a $1.72 annualized dividend and a yield of 2.10%. Aflac’s dividend payout ratio (DPR) is 25.94%.
Aflac declared that its board has initiated a share buyback program on Tuesday, August 8th that authorizes the company to repurchase 40,000,000 shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
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AFL has been the topic of several research reports. Zacks Investment Research cut Aflac from a “buy” rating to a “hold” rating in a research report on Wednesday, May 31st. Bank of America Corporation raised Aflac from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $75.00 to $78.00 in a research report on Tuesday, July 4th. BidaskClub cut Aflac from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. ValuEngine raised Aflac from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Finally, Raymond James Financial, Inc. raised Aflac from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research report on Tuesday, April 18th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Aflac presently has a consensus rating of “Hold” and an average price target of $75.95.
In related news, Director Karole Lloyd purchased 1,000 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was acquired at an average price of $77.01 per share, with a total value of $77,010.00. Following the completion of the acquisition, the director now owns 7,253 shares in the company, valued at approximately $558,553.53. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul S. Amos II sold 222,889 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $77.40, for a total transaction of $17,251,608.60. Following the completion of the transaction, the insider now directly owns 329,540 shares of the company’s stock, valued at approximately $25,506,396. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 240,203 shares of company stock valued at $18,612,224. 3.00% of the stock is owned by insiders.
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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