Plancorp LLC Cuts Stake in Aflac Incorporated (NYSE:AFL)

Plancorp LLC cut its position in Aflac Incorporated (NYSE:AFL) by 17.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,323 shares of the financial services provider’s stock after selling 700 shares during the period. Plancorp LLC’s holdings in Aflac were worth $259,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AFL. CWM LLC raised its position in shares of Aflac by 7.7% in the first quarter. CWM LLC now owns 1,400 shares of the financial services provider’s stock worth $101,000 after buying an additional 100 shares during the last quarter. Harfst & Associates Inc. bought a new position in shares of Aflac during the first quarter worth approximately $128,000. Washington Trust Bank raised its position in shares of Aflac by 0.9% in the second quarter. Washington Trust Bank now owns 1,704 shares of the financial services provider’s stock worth $132,000 after buying an additional 16 shares during the last quarter. Quadrant Capital Group LLC raised 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 during the last quarter. Finally, Sit Investment Associates Inc. raised its position in shares of Aflac by 1.8% in the second quarter. Sit Investment Associates Inc. now owns 2,137 shares of the financial services provider’s stock worth $166,000 after buying an additional 37 shares during the last quarter. 64.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Aflac Incorporated (NYSE AFL) traded up 0.01% during midday trading on Friday, reaching $79.84. 1,397,338 shares of the company’s stock traded hands. The company has a 50-day moving average of $79.13 and a 200-day moving average of $74.94. Aflac Incorporated has a one year low of $66.50 and a one year high of $81.89. The company has a market capitalization of $31.56 billion, a price-to-earnings ratio of 12.07 and a beta of 0.99.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 23rd will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Monday, August 21st. Aflac’s dividend payout ratio (DPR) is 25.94%.

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

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A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Aflac from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a report on Friday, June 2nd. Royal Bank Of Canada reissued an “underperform” rating and issued a $66.00 price target (up previously from $62.00) on shares of Aflac in a report on Monday, May 1st. FBR & Co reaffirmed a “market perform” rating and set a $80.00 target price (up previously from $68.00) on shares of Aflac in a report on Wednesday, July 12th. Barclays PLC increased their target price on shares of Aflac from $71.00 to $73.00 and gave the company an “equal weight” rating in a report on Monday, July 3rd. Finally, BidaskClub lowered shares of Aflac from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. Aflac presently has a consensus rating of “Hold” and a consensus target price of $76.50.

In other Aflac news, President Kriss Cloninger III sold 2,500 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $77.72, for a total transaction of $194,300.00. Following the transaction, the president now owns 241,646 shares in the company, valued at $18,780,727.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul S. Amos II sold 222,889 shares of the business’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $77.40, for a total transaction of $17,251,608.60. Following the transaction, the insider now owns 329,540 shares in the company, valued at approximately $25,506,396. The disclosure for this sale can be found here. Insiders have sold 240,203 shares of company stock worth $18,612,224 in the last quarter. Company insiders own 3.00% of the company’s stock.

About Aflac

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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