Synovus Financial Corp decreased its holdings in AFLAC Incorporated (NYSE:AFL) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,270,399 shares of the financial services provider’s stock after selling 33,038 shares during the period. AFLAC comprises 0.9% of Synovus Financial Corp’s portfolio, making the stock its 18th largest holding. Synovus Financial Corp’s holdings in AFLAC were worth $54,656,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of AFL. Advisor Partners LLC increased its holdings in AFLAC by 5.8% in the second quarter. Advisor Partners LLC now owns 22,215 shares of the financial services provider’s stock worth $956,000 after buying an additional 1,209 shares during the last quarter. Oakworth Capital Inc. increased its holdings in AFLAC by 100.0% in the first quarter. Oakworth Capital Inc. now owns 2,430 shares of the financial services provider’s stock worth $111,000 after buying an additional 1,215 shares during the last quarter. Regentatlantic Capital LLC increased its holdings in AFLAC by 2.4% in the second quarter. Regentatlantic Capital LLC now owns 53,372 shares of the financial services provider’s stock worth $2,296,000 after buying an additional 1,243 shares during the last quarter. Smithfield Trust Co. increased its holdings in AFLAC by 100.0% in the first quarter. Smithfield Trust Co. now owns 2,520 shares of the financial services provider’s stock worth $111,000 after buying an additional 1,260 shares during the last quarter. Finally, Optimum Investment Advisors increased its holdings in AFLAC by 44.4% in the first quarter. Optimum Investment Advisors now owns 4,680 shares of the financial services provider’s stock worth $205,000 after buying an additional 1,440 shares during the last quarter. Institutional investors own 67.97% of the company’s stock.
A number of equities analysts recently commented on AFL shares. Sandler O’Neill upgraded AFLAC from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Wednesday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $50.00 target price on shares of AFLAC in a research report on Wednesday. Zacks Investment Research raised AFLAC from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Tuesday, June 5th. ValuEngine cut AFLAC from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Finally, Wells Fargo & Co set a $48.00 target price on AFLAC and gave the stock a “hold” rating in a research report on Wednesday, April 25th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $47.54.
AFLAC (NYSE:AFL) last issued its quarterly earnings results on Thursday, July 26th. The financial services provider reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.08. The firm had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.52 billion. AFLAC had a net margin of 21.00% and a return on equity of 12.53%. AFLAC’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company posted $0.92 EPS. equities analysts predict that AFLAC Incorporated will post 3.99 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, September 1st. Investors of record on Wednesday, August 22nd will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Tuesday, August 21st. AFLAC’s dividend payout ratio is presently 30.59%.
In related news, insider Eric M. Kirsch sold 66,447 shares of the firm’s stock in a transaction dated Friday, June 29th. The shares were sold at an average price of $43.31, for a total value of $2,877,819.57. Following the transaction, the insider now directly owns 128,796 shares of the company’s stock, valued at approximately $5,578,154.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.00% of the company’s stock.
AFLAC Company Profile
Aflac Incorporated, through its subsidiary, American Family Life Assurance Company of Columbus, 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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