The Manufacturers Life Insurance Company increased its position in shares of AFLAC Incorporated (NYSE:AFL) by 6.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 803,082 shares of the financial services provider’s stock after buying an additional 46,105 shares during the period. The Manufacturers Life Insurance Company owned 0.11% of AFLAC worth $40,154,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in AFL. Cordasco Financial Network acquired a new position in shares of AFLAC during the first quarter valued at about $25,000. Gables Capital Management Inc. grew its holdings in shares of AFLAC by 276.9% during the first quarter. Gables Capital Management Inc. now owns 490 shares of the financial services provider’s stock valued at $25,000 after buying an additional 360 shares during the last quarter. Baystate Wealth Management LLC boosted its holdings in AFLAC by 203.5% during the first quarter. Baystate Wealth Management LLC now owns 601 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 403 shares during the last quarter. NuWave Investment Management LLC boosted its holdings in AFLAC by 59.2% during the first quarter. NuWave Investment Management LLC now owns 769 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 286 shares during the last quarter. Finally, Rational Advisors LLC boosted its holdings in AFLAC by 59.2% during the first quarter. Rational Advisors LLC now owns 769 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 286 shares during the last quarter. 66.75% of the stock is owned by institutional investors and hedge funds.
AFL has been the topic of several analyst reports. Zacks Investment Research cut shares of AFLAC from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. ValuEngine cut shares of AFLAC from a “hold” rating to a “sell” rating in a report on Friday, March 1st. UBS Group cut their price target on shares of AFLAC from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Tuesday, April 30th. Barclays boosted their price target on shares of AFLAC from $45.00 to $53.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 22nd. Finally, Raymond James boosted their price target on shares of AFLAC from $55.00 to $56.00 and gave the stock a “strong-buy” rating in a report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. AFLAC has an average rating of “Hold” and an average price target of $50.09.
AFLAC (NYSE:AFL) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.05 by $0.07. The business had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.46 billion. AFLAC had a net margin of 14.26% and a return on equity of 13.49%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 earnings per share. Analysts forecast that AFLAC Incorporated will post 4.3 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 22nd were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.99%. The ex-dividend date was Tuesday, May 21st. AFLAC’s dividend payout ratio is 25.96%.
In other AFLAC news, Director Toshihiko Fukuzawa sold 1,500 shares of AFLAC stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $51.00, for a total value of $76,500.00. Following the sale, the director now owns 12,816 shares of the company’s stock, valued at $653,616. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Masatoshi Koide sold 29,008 shares of AFLAC stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $49.75, for a total transaction of $1,443,148.00. Following the completion of the sale, the insider now directly owns 64,512 shares in the company, valued at approximately $3,209,472. The disclosure for this sale can be found here. In the last ninety days, insiders sold 177,332 shares of company stock worth $9,078,988. Insiders own 1.30% of the company’s stock.
Aflac Incorporated, through its subsidiaries, provides voluntary supplemental health and life insurance products. It operates through two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers voluntary supplemental insurance products, including cancer plans, general medical indemnity plans, medical/sickness riders, care plans, living benefit life plans, ordinary life insurance plans, and annuities in Japan.
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