Northwestern Mutual Wealth Management Co. raised its position in shares of AFLAC Incorporated (NYSE:AFL) by 2.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 79,182 shares of the financial services provider’s stock after purchasing an additional 1,991 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in AFLAC were worth $3,727,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Unigestion Holding SA bought a new position in AFLAC in the 2nd quarter worth $40,468,000. Cornerstone Wealth Management LLC raised its holdings in AFLAC by 9,077.4% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 911,678 shares of the financial services provider’s stock worth $21,256,000 after purchasing an additional 901,744 shares in the last quarter. Natixis raised its holdings in AFLAC by 116.6% in the 2nd quarter. Natixis now owns 1,525,606 shares of the financial services provider’s stock worth $65,632,000 after purchasing an additional 821,166 shares in the last quarter. Janus Henderson Group PLC raised its holdings in AFLAC by 47.1% in the 2nd quarter. Janus Henderson Group PLC now owns 2,224,874 shares of the financial services provider’s stock worth $95,715,000 after purchasing an additional 712,308 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in AFLAC by 52.3% in the 2nd quarter. First Trust Advisors LP now owns 1,861,384 shares of the financial services provider’s stock worth $80,077,000 after purchasing an additional 638,814 shares in the last quarter. 66.91% of the stock is owned by institutional investors and hedge funds.
AFL has been the subject of several research reports. Zacks Investment Research upgraded shares of AFLAC from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. Sandler O’Neill set a $50.00 price objective on shares of AFLAC and gave the stock a “hold” rating in a report on Friday, July 27th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $50.00 price objective on shares of AFLAC in a report on Wednesday, August 1st. B. Riley upped their price objective on shares of AFLAC from $42.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday, August 7th. Finally, Credit Suisse Group decreased their price objective on shares of AFLAC from $49.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, August 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. AFLAC currently has an average rating of “Hold” and a consensus target price of $48.54.
AFLAC (NYSE:AFL) last issued its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.04. The company had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.57 billion. AFLAC had a net margin of 21.51% and a return on equity of 12.85%. During the same period last year, the business earned $0.85 EPS. Equities research analysts expect that AFLAC Incorporated will post 4.08 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Wednesday, November 21st will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $1.04 annualized dividend and a dividend yield of 2.31%. AFLAC’s payout ratio is 30.59%.
In related news, Director Joseph L. Moskowitz sold 1,500 shares of the stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $46.38, for a total value of $69,570.00. Following the completion of the transaction, the director now directly owns 17,779 shares in the company, valued at approximately $824,590.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Douglas Wayne Johnson sold 2,000 shares of the stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $46.52, for a total transaction of $93,040.00. Following the completion of the transaction, the director now owns 29,859 shares of the company’s stock, valued at $1,389,040.68. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.
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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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