Korea Investment CORP Grows Stake in Aflac Incorporated (AFL)

Korea Investment CORP lifted its holdings in Aflac Incorporated (NYSE:AFL) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 138,190 shares of the financial services provider’s stock after acquiring an additional 700 shares during the quarter. Korea Investment CORP’s holdings in Aflac were worth $11,247,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Aperio Group LLC increased its stake in shares of Aflac by 30.0% in the third quarter. Aperio Group LLC now owns 618,172 shares of the financial services provider’s stock worth $50,313,000 after acquiring an additional 142,618 shares during the period. PhiloSmith Capital Corp increased its stake in shares of Aflac by 38.2% in the third quarter. PhiloSmith Capital Corp now owns 36,200 shares of the financial services provider’s stock worth $2,946,000 after acquiring an additional 10,000 shares during the period. Huntington National Bank increased its stake in shares of Aflac by 4.1% in the third quarter. Huntington National Bank now owns 84,393 shares of the financial services provider’s stock worth $6,868,000 after acquiring an additional 3,323 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in shares of Aflac by 11.2% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 27,963 shares of the financial services provider’s stock worth $2,276,000 after acquiring an additional 2,817 shares during the period. Finally, Xact Kapitalforvaltning AB increased its stake in shares of Aflac by 14.0% in the third quarter. Xact Kapitalforvaltning AB now owns 96,823 shares of the financial services provider’s stock worth $7,880,000 after acquiring an additional 11,894 shares during the period. Hedge funds and other institutional investors own 65.83% of the company’s stock.

In other news, President Kriss Cloninger III sold 25,000 shares of the company’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $83.83, for a total transaction of $2,095,750.00. Following the transaction, the president now directly owns 298,646 shares of the company’s stock, valued at approximately $25,035,494.18. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Audrey B. Tillman sold 310 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $83.57, for a total transaction of $25,906.70. Following the transaction, the insider now directly owns 41,937 shares in the company, valued at $3,504,675.09. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,209 shares of company stock worth $2,688,390. Corporate insiders own 3.00% of the company’s stock.

A number of analysts recently issued reports on AFL shares. Bank of America Corporation raised shares of Aflac from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $75.00 to $78.00 in a report on Tuesday, July 4th. Zacks Investment Research downgraded shares of Aflac from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Royal Bank Of Canada reissued a “sell” rating and set a $66.00 price target on shares of Aflac in a report on Wednesday, July 12th. FBR & Co reissued a “market perform” rating and set a $80.00 price target (up from $68.00) on shares of Aflac in a report on Wednesday, July 12th. Finally, BidaskClub downgraded shares of Aflac from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $79.63.

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Aflac Incorporated (AFL) opened at 83.89 on Wednesday. The firm’s 50-day moving average is $83.34 and its 200 day moving average is $79.05. Aflac Incorporated has a 12-month low of $66.50 and a 12-month high of $85.70. The stock has a market capitalization of $33.16 billion, a P/E ratio of 12.68 and a beta of 0.96.

Aflac (NYSE:AFL) last posted its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $1.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.07. Aflac had a net margin of 12.49% and a return on equity of 12.87%. The business had revenue of $5.51 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same period in the prior year, the company posted $1.74 EPS. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. Equities analysts expect that Aflac Incorporated will post $6.74 EPS for the current year.

Aflac declared that its board has authorized a share buyback program on Tuesday, August 8th that authorizes the company to buyback 40,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This is a boost from Aflac’s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.15%. Aflac’s dividend payout ratio is 24.93%.

Aflac 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.

Institutional Ownership by Quarter for Aflac (NYSE:AFL)

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