DekaBank Deutsche Girozentrale lifted its stake in shares of AFLAC Incorporated (NYSE:AFL) by 39.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,173,443 shares of the financial services provider’s stock after buying an additional 333,086 shares during the period. DekaBank Deutsche Girozentrale’s holdings in AFLAC were worth $64,143,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Advisory Services Network LLC grew its position in AFLAC by 3.0% in the 2nd quarter. Advisory Services Network LLC now owns 13,469 shares of the financial services provider’s stock valued at $738,000 after purchasing an additional 387 shares during the period. Covenant Multifamily Offices LLC purchased a new position in AFLAC during the 2nd quarter worth $700,000. Signaturefd LLC boosted its holdings in AFLAC by 5.7% during the 2nd quarter. Signaturefd LLC now owns 17,652 shares of the financial services provider’s stock worth $968,000 after acquiring an additional 952 shares during the last quarter. Abbrea Capital LLC boosted its holdings in AFLAC by 1.5% during the 2nd quarter. Abbrea Capital LLC now owns 17,140 shares of the financial services provider’s stock worth $939,000 after acquiring an additional 250 shares during the last quarter. Finally, Somerset Trust Co boosted its holdings in AFLAC by 2.0% during the 2nd quarter. Somerset Trust Co now owns 54,055 shares of the financial services provider’s stock worth $2,963,000 after acquiring an additional 1,084 shares during the last quarter. 66.51% of the stock is owned by institutional investors.
In other news, SVP Albert Riggieri sold 5,247 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $52.39, for a total transaction of $274,890.33. Following the completion of the transaction, the senior vice president now owns 10,698 shares of the company’s stock, valued at $560,468.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph L. Moskowitz sold 2,750 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $52.02, for a total value of $143,055.00. Following the transaction, the director now directly owns 15,290 shares of the company’s stock, valued at approximately $795,385.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,980 shares of company stock worth $5,438,490. Company insiders own 1.30% of the company’s stock.
AFLAC (NYSE:AFL) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.06. AFLAC had a return on equity of 12.94% and a net margin of 14.24%. The firm had revenue of $5.51 billion for the quarter, compared to analysts’ expectations of $5.46 billion. During the same period in the prior year, the business posted $1.07 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. Equities research analysts forecast that AFLAC Incorporated will post 4.34 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Tuesday, August 20th. AFLAC’s dividend payout ratio is presently 25.96%.
AFL has been the topic of a number of analyst reports. ValuEngine downgraded shares of AFLAC from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. UBS Group cut their price objective on shares of AFLAC from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Tuesday, April 30th. Raymond James downgraded shares of AFLAC from a “strong-buy” rating to an “outperform” rating and set a $62.00 price objective on the stock. in a report on Monday, July 29th. Evercore ISI downgraded shares of AFLAC from an “in-line” rating to an “underperform” rating and set a $56.57 price objective on the stock. in a report on Tuesday, July 16th. Finally, Morgan Stanley lifted their price objective on shares of AFLAC from $53.00 to $54.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $52.62.
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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