Nuveen Asset Management LLC Has $2.20 Million Position in Aflac Incorporated (NYSE:AFL)

Nuveen Asset Management LLC reduced its position in shares of Aflac Incorporated (NYSE:AFL) by 67.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,323 shares of the financial services provider’s stock after selling 63,209 shares during the period. Nuveen Asset Management LLC’s holdings in Aflac were worth $2,196,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TNB Financial bought a new position in shares of Aflac during the first quarter worth about $3,138,000. Regentatlantic Capital LLC increased its position in shares of Aflac by 16.3% in the first quarter. Regentatlantic Capital LLC now owns 23,685 shares of the financial services provider’s stock worth $1,715,000 after buying an additional 3,320 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Aflac by 0.3% in the first quarter. Quadrant Capital Group LLC now owns 2,391 shares of the financial services provider’s stock worth $166,000 after buying an additional 7 shares in the last quarter. Gulf International Bank UK Ltd increased its position in shares of Aflac by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 127,539 shares of the financial services provider’s stock worth $9,236,000 after buying an additional 1,500 shares in the last quarter. Finally, Weaver C. Barksdale & Associates Inc. increased its position in shares of Aflac by 50.4% in the first quarter. Weaver C. Barksdale & Associates Inc. now owns 21,405 shares of the financial services provider’s stock worth $1,550,000 after buying an additional 7,176 shares in the last quarter. Institutional investors and hedge funds own 64.59% of the company’s stock.

Aflac Incorporated (NYSE:AFL) traded up 0.01% during mid-day trading on Friday, reaching $79.84. The company’s stock had a trading volume of 1,397,338 shares. The firm has a market cap of $31.56 billion, a PE ratio of 12.07 and a beta of 0.99. Aflac Incorporated has a one year low of $66.50 and a one year high of $81.89. The stock’s 50 day moving average is $79.13 and its 200 day moving average is $74.94.

Aflac (NYSE:AFL) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.20. Aflac had a return on equity of 13.09% and a net margin of 11.98%. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same quarter last year, the company posted $1.65 earnings per share. The business’s quarterly revenue was down .2% compared to the same quarter last year. On average, analysts anticipate that Aflac Incorporated will post $6.69 EPS for the current year.

Aflac declared that its board has initiated a share buyback program on Tuesday, August 8th that authorizes the company to buyback 40,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Wednesday, August 23rd will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Monday, August 21st. Aflac’s dividend payout ratio is currently 25.94%.

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A number of brokerages have recently issued reports on AFL. ValuEngine upgraded Aflac from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Barclays PLC lifted their price target on Aflac from $73.00 to $79.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. BidaskClub downgraded Aflac from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Bank of America Corporation upgraded Aflac from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $75.00 to $78.00 in a report on Tuesday, July 4th. Finally, FBR & Co restated a “market perform” rating and set a $80.00 target price (up from $68.00) on shares of Aflac in a research note on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $76.50.

In related news, insider Teresa L. White sold 11,314 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $78.01, for a total transaction of $882,605.14. Following the transaction, the insider now owns 26,847 shares of the company’s stock, valued at $2,094,334.47. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Kriss Cloninger III sold 3,500 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $81.06, for a total value of $283,710.00. Following the transaction, the president now directly owns 253,196 shares in the company, valued at approximately $20,524,067.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 240,203 shares of company stock worth $18,612,224. Corporate insiders own 3.00% of the company’s stock.

Aflac Company Profile

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.

Institutional Ownership by Quarter for Aflac (NYSE:AFL)

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