Gradient Investments LLC reduced its holdings in shares of Aflac Incorporated (NYSE:AFL – Free Report) by 20.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,134 shares of the financial services provider’s stock after selling 1,781 shares during the quarter. Gradient Investments LLC’s holdings in Aflac were worth $752,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in AFL. AlphaCore Capital LLC purchased a new position in Aflac during the 1st quarter valued at about $28,000. Golden State Wealth Management LLC boosted its stake in shares of Aflac by 121.9% during the 1st quarter. Golden State Wealth Management LLC now owns 304 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 167 shares during the last quarter. Groupe la Francaise acquired a new stake in shares of Aflac during the 1st quarter worth about $34,000. Garde Capital Inc. acquired a new stake in shares of Aflac during the 1st quarter worth about $36,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of Aflac by 90.8% during the 1st quarter. Meeder Asset Management Inc. now owns 330 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 157 shares during the last quarter. 67.44% of the stock is currently owned by hedge funds and other institutional investors.
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Aflac Stock Down 0.8%
Shares of NYSE:AFL opened at $107.58 on Wednesday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.33. The company has a fifty day simple moving average of $104.29 and a 200 day simple moving average of $105.18. The firm has a market cap of $57.54 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 3.03 and a beta of 0.85. Aflac Incorporated has a 12-month low of $96.95 and a 12-month high of $115.50.
Aflac (NYSE:AFL – Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.07. The business had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.30 billion. Aflac had a net margin of 15.32% and a return on equity of 15.08%. The business’s revenue was down 19.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.83 earnings per share. On average, equities research analysts anticipate that Aflac Incorporated will post 6.88 EPS for the current fiscal year.
Aflac announced that its board has authorized a stock repurchase plan on Tuesday, August 12th that allows the company to buyback 100,000,000 shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
Aflac Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Wednesday, August 20th. Aflac’s payout ratio is 52.61%.
Insider Activity
In related news, Director Joseph L. Moskowitz sold 1,000 shares of Aflac stock in a transaction on Friday, August 8th. The shares were sold at an average price of $102.57, for a total value of $102,570.00. Following the completion of the sale, the director owned 25,105 shares in the company, valued at approximately $2,575,019.85. The trade was a 3.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.80% of the company’s stock.
Wall Street Analysts Forecast Growth
AFL has been the topic of several analyst reports. Morgan Stanley raised their price target on shares of Aflac from $108.00 to $113.00 and gave the stock an “equal weight” rating in a research note on Monday, August 18th. Wells Fargo & Company raised their target price on shares of Aflac from $105.00 to $107.00 and gave the stock an “equal weight” rating in a research report on Monday, August 11th. Wall Street Zen raised shares of Aflac from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Keefe, Bruyette & Woods raised their target price on shares of Aflac from $106.00 to $108.00 and gave the stock a “market perform” rating in a research report on Monday, August 11th. Finally, Barclays set a $98.00 target price on shares of Aflac and gave the stock an “underweight” rating in a research report on Monday, July 7th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $109.15.
Read Our Latest Research Report on AFL
About Aflac
(Free Report)
Aflac Incorporated, through its subsidiaries, provides supplemental health and life insurance products. The company operates through Aflac Japan and Aflac U.S. segments. The Aflac Japan segment offers cancer, medical, nursing care, work leave, GIFT, and whole and term life insurance products, as well as WAYS and child endowment plans under saving type insurance products in Japan.
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