Commonwealth Bank of Australia grew its holdings in shares of AFLAC Incorporated (NYSE:AFL) by 4.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 127,492 shares of the financial services provider’s stock after acquiring an additional 5,374 shares during the quarter. Commonwealth Bank of Australia’s holdings in AFLAC were worth $5,480,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. raised its stake in AFLAC by 105.9% during the first quarter. BlackRock Inc. now owns 51,061,717 shares of the financial services provider’s stock worth $2,234,459,000 after acquiring an additional 26,264,017 shares in the last quarter. Northern Trust Corp raised its stake in AFLAC by 96.3% during the first quarter. Northern Trust Corp now owns 10,631,066 shares of the financial services provider’s stock worth $465,215,000 after acquiring an additional 5,215,905 shares in the last quarter. LSV Asset Management raised its stake in AFLAC by 4.2% during the second quarter. LSV Asset Management now owns 6,323,617 shares of the financial services provider’s stock worth $272,042,000 after acquiring an additional 253,241 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in AFLAC by 98.9% during the first quarter. Dimensional Fund Advisors LP now owns 6,240,111 shares of the financial services provider’s stock worth $273,050,000 after acquiring an additional 3,103,311 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in AFLAC by 100.2% during the first quarter. Franklin Resources Inc. now owns 5,887,880 shares of the financial services provider’s stock worth $257,653,000 after acquiring an additional 2,947,089 shares in the last quarter. 67.17% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Eric M. Kirsch sold 66,447 shares of the company’s stock in a transaction that occurred on Friday, June 29th. The stock was sold at an average price of $43.31, for a total value of $2,877,819.57. Following the sale, the insider now directly owns 128,796 shares in the company, valued at $5,578,154.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.00% of the company’s stock.
Several brokerages have commented on AFL. Credit Suisse Group lowered their target price on AFLAC from $49.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, August 17th. Zacks Investment Research downgraded AFLAC from a “buy” rating to a “hold” rating in a research note on Monday, May 14th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $50.00 price objective on shares of AFLAC in a research note on Wednesday, August 1st. B. Riley upped their price objective on AFLAC from $42.00 to $46.00 and gave the company a “neutral” rating in a research note on Tuesday, August 7th. Finally, ValuEngine downgraded AFLAC from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $47.23.
AFLAC stock opened at $47.08 on Thursday. AFLAC Incorporated has a 1 year low of $39.88 and a 1 year high of $47.15. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.05 and a quick ratio of 0.05. The company has a market capitalization of $35.50 billion, a PE ratio of 12.27, a PEG ratio of 1.35 and a beta of 0.94.
AFLAC (NYSE:AFL) last released its quarterly earnings data on Thursday, July 26th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. AFLAC had a return on equity of 12.53% and a net margin of 21.00%. The company had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. sell-side analysts predict that AFLAC Incorporated will post 4.06 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Saturday, September 1st. Investors of record on Wednesday, August 22nd were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Tuesday, August 21st. AFLAC’s payout ratio is presently 30.59%.
Aflac Incorporated, through its subsidiary, American Family Life Assurance Company of Columbus, 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.
See Also: What is a closed-end mutual fund (CEF)?
Receive News & Ratings for AFLAC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AFLAC and related companies with MarketBeat.com's FREE daily email newsletter.