Sowell Financial Services LLC boosted its stake in shares of Aflac Incorporated (NYSE:AFL) by 11.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,150 shares of the financial services provider’s stock after buying an additional 411 shares during the period. Sowell Financial Services LLC’s holdings in Aflac were worth $306,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in AFL. CWM LLC boosted 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 period. Harfst & Associates Inc. acquired a new stake in shares of Aflac during the first quarter worth about $128,000. Quadrant Capital Group LLC raised its stake 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. Bollard Group LLC raised its stake in shares of Aflac by 0.6% in the first quarter. Bollard Group LLC now owns 2,325 shares of the financial services provider’s stock worth $168,000 after buying an additional 14 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Aflac by 64.1% in the first quarter. Parallel Advisors LLC now owns 2,715 shares of the financial services provider’s stock worth $203,000 after buying an additional 1,061 shares in the last quarter. Institutional investors and hedge funds own 64.59% of the company’s stock.
Aflac Incorporated (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 stock’s 50 day moving average is $79.13 and its 200 day moving average is $74.94. Aflac Incorporated has a one year low of $66.50 and a one year high of $81.89. The firm has a market cap of $31.56 billion, a PE ratio of 12.07 and a beta of 0.99.
Aflac (NYSE:AFL) last posted its earnings results on Thursday, July 27th. The financial services provider reported $1.83 EPS for the quarter, topping the 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 firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the prior year, the firm earned $1.65 EPS. Aflac’s quarterly revenue was down .2% on a year-over-year basis. On average, analysts anticipate that Aflac Incorporated will post $6.69 EPS for the current year.
Aflac announced that its board has approved a stock repurchase plan on Tuesday, August 8th that allows the company to buyback 40,000,000 shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Wednesday, August 23rd will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Monday, August 21st. Aflac’s dividend payout ratio (DPR) is presently 25.94%.
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AFL has been the subject of a number of research analyst reports. Zacks Investment Research raised Aflac from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research note on Friday, June 2nd. Barclays PLC lifted their target price on Aflac from $71.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday, July 3rd. 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. 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, BidaskClub downgraded Aflac from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $76.50.
In related news, Director Karole Lloyd acquired 1,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was acquired at an average cost of $77.01 per share, for a total transaction of $77,010.00. Following the completion of the acquisition, the director now directly owns 7,253 shares of the company’s stock, valued at approximately $558,553.53. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Kriss Cloninger III sold 2,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the president now owns 241,646 shares of the company’s stock, valued at $18,780,727.12. The disclosure for this sale can be found here. Insiders sold 240,203 shares of company stock valued at $18,612,224 over the last quarter. 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.
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