Meritage Portfolio Management bought a new position in shares of AFLAC Incorporated (NYSE:AFL) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,897 shares of the financial services provider’s stock, valued at approximately $652,000.
Other hedge funds also recently bought and sold shares of the company. Gables Capital Management Inc. raised its stake in AFLAC by 276.9% in the first quarter. Gables Capital Management Inc. now owns 490 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 360 shares in the last quarter. Baystate Wealth Management LLC raised its stake in AFLAC by 203.5% in the first quarter. Baystate Wealth Management LLC now owns 601 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 403 shares in the last quarter. Nelson Roberts Investment Advisors LLC acquired a new position in AFLAC in the second quarter valued at about $39,000. NuWave Investment Management LLC raised its stake in AFLAC by 59.2% in the first quarter. NuWave Investment Management LLC now owns 769 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 286 shares in the last quarter. Finally, Rational Advisors LLC raised its stake in AFLAC by 59.2% in the first quarter. Rational Advisors LLC now owns 769 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 286 shares in the last quarter. 66.93% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the company. Barclays lifted their target price on AFLAC from $45.00 to $53.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 22nd. ValuEngine cut AFLAC from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded AFLAC from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Tuesday, April 30th. Morgan Stanley lifted their target price on AFLAC from $53.00 to $54.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Finally, UBS Group decreased their target price on AFLAC from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $52.62.
AFLAC (NYSE:AFL) last released its earnings results on Thursday, July 25th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ 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 quarter in the previous year, the business posted $1.07 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities research analysts anticipate that AFLAC Incorporated will post 4.34 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 21st will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Tuesday, August 20th. AFLAC’s dividend payout ratio is presently 25.96%.
In other news, insider June P. Howard sold 4,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $52.35, for a total transaction of $209,400.00. Following the sale, the insider now directly owns 64,591 shares in the company, valued at $3,381,338.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Barbara K. Rimer sold 4,728 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $53.74, for a total value of $254,082.72. Following the sale, the director now owns 32,448 shares in the company, valued at $1,743,755.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,480 shares of company stock worth $5,514,990. Company insiders own 1.30% of the company’s stock.
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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