Rehmann Capital Advisory Group continued to hold its position in shares of Aflac Incorporated (NYSE:AFL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,776 shares of the financial services provider’s stock at the end of the second quarter. Rehmann Capital Advisory Group’s holdings in Aflac were worth $293,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of 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 buying an additional 22,561,116 shares during the period. Vanguard Group Inc. increased its stake in shares of Aflac by 3.4% in the first quarter. Vanguard Group Inc. now owns 31,980,927 shares of the financial services provider’s stock worth $2,316,059,000 after buying an additional 1,048,415 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Aflac by 5,077.8% in the first quarter. Teacher Retirement System of Texas now owns 600,415 shares of the financial services provider’s stock worth $43,482,000 after buying an additional 588,819 shares during the period. NN Investment Partners Holdings N.V. increased its stake in shares of Aflac by 365.4% in the second quarter. NN Investment Partners Holdings N.V. now owns 653,691 shares of the financial services provider’s stock worth $50,777,000 after buying an additional 513,231 shares during the period. Finally, State Street Corp increased its stake in shares of Aflac by 2.4% in the first quarter. State Street Corp now owns 21,858,806 shares of the financial services provider’s stock worth $1,583,023,000 after buying an additional 505,060 shares during the period. Institutional investors and hedge funds own 64.59% of the company’s stock.
Aflac Incorporated (AFL) traded up 0.01% on Friday, hitting $79.84. The stock had a trading volume of 1,397,338 shares. Aflac Incorporated has a 1-year low of $66.50 and a 1-year high of $81.89. The firm has a market cap of $31.56 billion, a P/E ratio of 12.07 and a beta of 0.99. The firm’s 50-day moving average price is $79.13 and its 200-day moving average price is $74.94.
Aflac (NYSE:AFL) last released its quarterly earnings results 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 return on equity of 13.09% and a net margin of 11.98%. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same period last year, the firm posted $1.65 EPS. The business’s revenue was down .2% on a year-over-year basis. On average, equities research analysts predict that Aflac Incorporated will post $6.69 earnings per share for the current year.
The firm 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. The ex-dividend date of this dividend is Monday, August 21st. This represents a $1.72 dividend on an annualized basis and a yield of 2.15%. Aflac’s dividend payout ratio is 25.94%.
Aflac announced that its board has approved a stock buyback plan on Tuesday, August 8th that permits the company to repurchase 40,000,000 shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
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AFL has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Aflac from a “buy” rating to a “hold” rating in a report on Thursday, April 20th. Royal Bank Of Canada reiterated an “underperform” rating and issued a $66.00 price target (up from $62.00) on shares of Aflac in a report on Monday, May 1st. Barclays PLC boosted their price target on Aflac from $71.00 to $73.00 and gave the company an “equal weight” rating in a report on Monday, July 3rd. FBR & Co reiterated a “market perform” rating and issued a $80.00 price target (up from $68.00) on shares of Aflac in a report on Wednesday, July 12th. Finally, Bank of America Corporation upgraded Aflac from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $75.00 to $78.00 in a report on Tuesday, July 4th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Aflac presently has an average rating of “Hold” and a consensus target price of $76.50.
In related news, President Kriss Cloninger III sold 2,500 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $77.72, for a total transaction of $194,300.00. Following the completion of the sale, the president now directly owns 241,646 shares of the company’s stock, valued at approximately $18,780,727.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Teresa L. White sold 11,314 shares of the firm’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $78.01, for a total value of $882,605.14. Following the sale, the insider now directly owns 26,847 shares of the company’s stock, valued at $2,094,334.47. The disclosure for this sale can be found here. Insiders have sold a total of 240,203 shares of company stock valued at $18,612,224 over the last ninety days. 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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