Loeb Partners Corp maintained its stake in shares of Aflac Incorporated (NYSE:AFL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,988 shares of the financial services provider’s stock at the end of the second quarter. Loeb Partners Corp’s holdings in Aflac were worth $3,106,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of AFL. Vanguard Group Inc. raised its stake in shares of Aflac by 3.4% in the first quarter. Vanguard Group Inc. now owns 31,980,927 shares of the financial services provider’s stock valued at $2,316,059,000 after buying an additional 1,048,415 shares during the last quarter. BlackRock Inc. raised its stake in shares of Aflac by 1,750.9% in the first quarter. BlackRock Inc. now owns 23,849,668 shares of the financial services provider’s stock valued at $1,727,193,000 after buying an additional 22,561,116 shares during the last quarter. State Street Corp raised its stake in shares of Aflac by 2.4% in the first quarter. State Street Corp now owns 21,858,806 shares of the financial services provider’s stock valued at $1,583,023,000 after buying an additional 505,060 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Aflac by 4.1% in the first quarter. AQR Capital Management LLC now owns 4,390,534 shares of the financial services provider’s stock valued at $317,962,000 after buying an additional 173,236 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Aflac by 8.4% in the first quarter. Geode Capital Management LLC now owns 4,076,593 shares of the financial services provider’s stock valued at $294,824,000 after buying an additional 314,506 shares during the last quarter. Institutional investors and hedge funds own 64.64% of the company’s stock.
Aflac Incorporated (AFL) opened at 80.82 on Friday. The stock has a 50 day moving average of $78.63 and a 200-day moving average of $74.49. Aflac Incorporated has a 12 month low of $66.50 and a 12 month high of $81.80. The company has a market cap of $31.94 billion, a P/E ratio of 12.22 and a beta of 0.99.
Aflac (NYSE:AFL) last announced its earnings results on Thursday, July 27th. The financial services provider reported $1.83 EPS 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%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.65 earnings per share. Equities research analysts expect that Aflac Incorporated will post $6.67 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Wednesday, August 23rd will be issued a $0.43 dividend. The ex-dividend date is Monday, August 21st. This represents a $1.72 annualized dividend and a dividend yield of 2.13%. Aflac’s dividend payout ratio is currently 25.94%.
Aflac announced that its Board of Directors has approved a stock buyback plan on Tuesday, August 8th that permits the company to repurchase 40,000,000 shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
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AFL has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Aflac from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Monday, April 17th. Royal Bank Of Canada reiterated an “underperform” rating and issued a $66.00 price target (up from $62.00) on shares of Aflac in a research note on Monday, May 1st. Raymond James Financial, Inc. upgraded shares of Aflac from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Tuesday, April 18th. Deutsche Bank AG lifted their price target on shares of Aflac from $70.00 to $72.00 and gave the company a “hold” rating in a research note on Wednesday, April 19th. Finally, Barclays PLC lifted their price target on shares of Aflac from $71.00 to $73.00 and gave the company an “equal weight” rating in a research note on Monday, July 3rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $75.95.
In other news, Director Karole Lloyd bought 1,000 shares of the stock in a transaction dated Monday, June 12th. The stock was bought at an average price of $77.01 per share, for a total transaction of $77,010.00. Following the completion of the acquisition, the director now directly owns 7,253 shares in the company, valued at approximately $558,553.53. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul S. Amos II sold 222,889 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $77.40, for a total transaction of $17,251,608.60. Following the completion of the sale, the insider now owns 329,540 shares of the company’s stock, valued at approximately $25,506,396. The disclosure for this sale can be found here. In the last quarter, insiders sold 240,203 shares of company stock valued at $18,612,224. 3.00% of the stock is currently owned by corporate 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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