HM Payson & Co. cut its holdings in Aflac Incorporated (NYSE:AFL) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 389,109 shares of the financial services provider’s stock after selling 3,433 shares during the quarter. Aflac comprises 1.4% of HM Payson & Co.’s portfolio, making the stock its 22nd largest position. HM Payson & Co. owned approximately 0.10% of Aflac worth $31,669,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its holdings in Aflac by 1,750.9% in the first quarter. BlackRock Inc. now owns 23,849,668 shares of the financial services provider’s stock worth $1,727,193,000 after purchasing an additional 22,561,116 shares during the period. AJO LP raised its holdings in Aflac by 157.8% in the second quarter. AJO LP now owns 3,483,353 shares of the financial services provider’s stock worth $270,587,000 after purchasing an additional 2,132,414 shares during the period. Balyasny Asset Management LLC raised its holdings in Aflac by 1,351.2% in the second quarter. Balyasny Asset Management LLC now owns 1,311,615 shares of the financial services provider’s stock worth $101,886,000 after purchasing an additional 1,221,231 shares during the period. Canada Pension Plan Investment Board raised its holdings in Aflac by 392.0% in the third quarter. Canada Pension Plan Investment Board now owns 1,303,597 shares of the financial services provider’s stock worth $106,100,000 after purchasing an additional 1,038,628 shares during the period. Finally, Coho Partners Ltd. raised its holdings in Aflac by 85.3% in the second quarter. Coho Partners Ltd. now owns 2,186,934 shares of the financial services provider’s stock worth $169,881,000 after purchasing an additional 1,006,477 shares during the period. 66.42% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Aflac Incorporated (AFL) traded down $0.64 during mid-day trading on Friday, reaching $83.44. 1,181,700 shares of the company’s stock traded hands, compared to its average volume of 1,794,537. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.24. Aflac Incorporated has a 12-month low of $66.50 and a 12-month high of $85.70. The firm has a market cap of $33,056.02, a price-to-earnings ratio of 12.48, a P/E/G ratio of 2.49 and a beta of 1.00.
Aflac (NYSE:AFL) last issued its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.07. Aflac had a net margin of 12.49% and a return on equity of 12.87%. The firm had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same period in the previous year, the business earned $1.74 EPS. The company’s revenue was down 3.7% compared to the same quarter last year. equities analysts expect that Aflac Incorporated will post 6.76 earnings per share for the current fiscal year.
Aflac declared that its Board of Directors has approved a share repurchase plan on Tuesday, August 8th that permits the company to repurchase 40,000,000 shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a $0.45 dividend. This is a positive change from Aflac’s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 2.16%. The ex-dividend date is Tuesday, November 14th. Aflac’s payout ratio is presently 24.93%.
Several research firms have weighed in on AFL. B. Riley reiterated a “neutral” rating on shares of Aflac in a report on Monday, November 6th. ValuEngine upgraded shares of Aflac from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. BidaskClub lowered shares of Aflac from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Zacks Investment Research upgraded shares of Aflac from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Thursday, September 21st. Finally, Barclays PLC increased their target price on shares of Aflac from $73.00 to $79.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. Aflac currently has a consensus rating of “Hold” and an average price target of $79.63.
In other Aflac news, insider Audrey B. Tillman sold 310 shares of Aflac stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $83.57, for a total value of $25,906.70. Following the sale, the insider now directly owns 41,937 shares in the company, valued at approximately $3,504,675.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas Wayne Johnson sold 1,500 shares of Aflac stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $83.58, for a total transaction of $125,370.00. Following the completion of the sale, the director now owns 13,733 shares in the company, valued at $1,147,804.14. The disclosure for this sale can be found here. Insiders sold a total of 28,709 shares of company stock worth $2,404,680 over the last quarter. Company insiders own 3.00% of the company’s stock.
Aflac Incorporated is a business holding company. The Company is involved in supplemental health and life insurance, which is marketed and administered through its subsidiary, American Family Life Assurance Company of Columbus (Aflac). The Company’s insurance business consists of two segments: Aflac Japan and Aflac U.S.
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