Investors Sell Aflac Incorporated (AFL) on Strength (AFL)
Investors sold shares of Aflac Incorporated (NYSE:AFL) on strength during trading on Monday. $23.52 million flowed into the stock on the tick-up and $88.94 million flowed out of the stock on the tick-down, for a money net flow of $65.42 million out of the stock. Of all equities tracked, Aflac had the 0th highest net out-flow for the day. Aflac traded up $0.58 for the day and closed at $81.97
AFL has been the topic of a number of recent research reports. Zacks Investment Research raised Aflac from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Thursday, September 21st. ValuEngine upgraded Aflac from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. BidaskClub downgraded Aflac from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. FBR & Co reaffirmed a “market perform” rating and issued a $80.00 price objective (up previously from $68.00) on shares of Aflac in a research note on Wednesday, July 12th. Finally, Barclays PLC raised their price objective on shares of Aflac from $73.00 to $79.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $78.13.
The stock has a market cap of $32.50 billion, a price-to-earnings ratio of 12.43 and a beta of 0.96. The stock’s 50-day moving average is $81.92 and its 200-day moving average is $77.47.
Aflac (NYSE:AFL) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.20. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.48 billion. Aflac had a return on equity of 13.09% and a net margin of 11.98%. Aflac’s revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.65 EPS. Equities research analysts expect that Aflac Incorporated will post $6.69 EPS for the current year.
Aflac declared that its board has initiated a stock buyback plan on Tuesday, August 8th that allows the company to buyback 40,000,000 outstanding shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, President Kriss Cloninger III sold 25,000 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $83.83, for a total value of $2,095,750.00. Following the completion of the sale, the president now owns 298,646 shares of the company’s stock, valued at $25,035,494.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas Wayne Johnson sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $83.58, for a total value of $125,370.00. Following the completion of the sale, the director now directly owns 13,733 shares of the company’s stock, valued at approximately $1,147,804.14. The disclosure for this sale can be found here. Insiders have sold 31,899 shares of company stock worth $2,662,483 over the last three months. Insiders own 3.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of AFL. Bollard Group LLC lifted its position in shares of Aflac by 0.6% in the 2nd quarter. Bollard Group LLC now owns 2,339 shares of the financial services provider’s stock worth $182,000 after purchasing an additional 14 shares during the period. Washington Trust Bank boosted its stake in shares of Aflac by 0.9% during the 2nd quarter. Washington Trust Bank now owns 1,704 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 16 shares in the last quarter. Balentine LLC boosted its stake in shares of Aflac by 0.3% during the 2nd quarter. Balentine LLC now owns 6,649 shares of the financial services provider’s stock valued at $516,000 after purchasing an additional 18 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Aflac by 0.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 7,259 shares of the financial services provider’s stock valued at $564,000 after buying an additional 27 shares during the period. Finally, CWM LLC increased its position in shares of Aflac by 2.1% during the second quarter. CWM LLC now owns 1,430 shares of the financial services provider’s stock valued at $111,000 after buying an additional 30 shares during the period. 65.63% of the stock is currently owned by institutional investors and hedge funds.
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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