Envestnet Asset Management Inc. reduced its stake in AFLAC Incorporated (NYSE:AFL) by 23.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 23,317 shares of the financial services provider’s stock after selling 7,126 shares during the quarter. Envestnet Asset Management Inc.’s holdings in AFLAC were worth $1,898,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. FMR LLC increased its stake in AFLAC by 11.6% during the 2nd quarter. FMR LLC now owns 7,106,003 shares of the financial services provider’s stock worth $551,994,000 after buying an additional 736,703 shares during the period. Victory Capital Management Inc. increased its stake in AFLAC by 6.6% during the 3rd quarter. Victory Capital Management Inc. now owns 3,562,481 shares of the financial services provider’s stock worth $289,950,000 after buying an additional 220,013 shares during the period. AJO LP increased its stake in AFLAC by 157.8% during the 2nd quarter. AJO LP now owns 3,483,353 shares of the financial services provider’s stock worth $270,587,000 after buying an additional 2,132,414 shares during the period. Dimensional Fund Advisors LP increased its stake in AFLAC by 1.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,075,085 shares of the financial services provider’s stock worth $250,315,000 after buying an additional 40,176 shares during the period. Finally, Coho Partners Ltd. increased its stake in AFLAC by 85.3% during the 2nd quarter. Coho Partners Ltd. now owns 2,186,934 shares of the financial services provider’s stock worth $169,881,000 after buying an additional 1,006,477 shares during the period. Hedge funds and other institutional investors own 65.75% of the company’s stock.
Several equities research analysts recently weighed in on the stock. Wells Fargo & Company set a $84.00 target price on shares of AFLAC and gave the stock a “hold” rating in a research note on Friday, December 1st. B. Riley reaffirmed a “neutral” rating on shares of AFLAC in a research note on Monday, November 6th. Goldman Sachs Group assumed coverage on shares of AFLAC in a research note on Wednesday, October 18th. They set a “neutral” rating and a $88.00 target price on the stock. Royal Bank of Canada reaffirmed a “sell” rating and set a $71.00 target price on shares of AFLAC in a research note on Tuesday, October 10th. Finally, Citigroup downgraded shares of AFLAC from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $82.00 to $77.00 in a research report on Tuesday, September 26th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $79.79.
AFLAC (NYSE:AFL) last posted its earnings results on Wednesday, October 25th. The financial services provider reported $1.70 EPS for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.07. The firm had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.48 billion. AFLAC had a net margin of 12.49% and a return on equity of 12.87%. The company’s revenue was down 3.7% on a year-over-year basis. During the same period last year, the firm posted $1.74 EPS. research analysts predict that AFLAC Incorporated will post 6.76 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.02%. This is an increase from AFLAC’s previous quarterly dividend of $0.43. The ex-dividend date was Tuesday, November 14th. AFLAC’s dividend payout ratio (DPR) is 26.09%.
In related news, insider Audrey B. Tillman sold 310 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $83.57, for a total transaction of $25,906.70. Following the completion of the sale, the insider now owns 41,937 shares in the company, valued at approximately $3,504,675.09. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Kriss Cloninger III sold 25,000 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $83.83, for a total transaction of $2,095,750.00. Following the sale, the president now owns 298,646 shares of the company’s stock, valued at approximately $25,035,494.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,766 shares of company stock valued at $2,936,060. 3.00% of the stock is owned by company insiders.
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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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