Synovus Financial Corp trimmed its holdings in AFLAC Incorporated (NYSE:AFL) by 1.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 659,968 shares of the financial services provider’s stock after selling 7,374 shares during the quarter. AFLAC makes up 1.0% of Synovus Financial Corp’s holdings, making the stock its 16th biggest holding. Synovus Financial Corp’s holdings in AFLAC were worth $57,937,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new stake in AFLAC during the second quarter worth about $358,000. Rockland Trust Co. increased its position in AFLAC by 13.0% during the fourth quarter. Rockland Trust Co. now owns 10,548 shares of the financial services provider’s stock worth $926,000 after purchasing an additional 1,214 shares during the last quarter. Creative Planning increased its position in AFLAC by 2.0% during the fourth quarter. Creative Planning now owns 97,049 shares of the financial services provider’s stock worth $8,519,000 after purchasing an additional 1,906 shares during the last quarter. Sawyer & Company Inc acquired a new stake in AFLAC during the fourth quarter worth about $1,151,000. Finally, Novare Capital Management LLC acquired a new stake in AFLAC during the third quarter worth about $4,720,000. Institutional investors and hedge funds own 66.87% of the company’s stock.
AFLAC Incorporated (NYSE:AFL) opened at $89.65 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.07 and a current ratio of 0.07. The firm has a market cap of $35,004.29, a PE ratio of 8.14, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. AFLAC Incorporated has a 12 month low of $70.34 and a 12 month high of $91.73.
AFLAC (NYSE:AFL) last announced its earnings results on Wednesday, January 31st. The financial services provider reported $1.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.05. AFLAC had a net margin of 20.18% and a return on equity of 12.32%. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same quarter last year, the firm posted $1.44 earnings per share. AFLAC’s revenue was down 8.9% compared to the same quarter last year. equities analysts forecast that AFLAC Incorporated will post 7.68 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Wednesday, February 21st will be paid a $0.52 dividend. This is a positive change from AFLAC’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $2.08 annualized dividend and a dividend yield of 2.32%. AFLAC’s dividend payout ratio (DPR) is presently 16.35%.
In other news, President Kriss Cloninger III sold 6,057 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $87.73, for a total value of $531,380.61. Following the completion of the transaction, the president now owns 241,099 shares of the company’s stock, valued at $21,151,615.27. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP James Todd Daniels sold 1,430 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $87.11, for a total transaction of $124,567.30. Following the completion of the transaction, the vice president now directly owns 12,708 shares of the company’s stock, valued at approximately $1,106,993.88. The disclosure for this sale can be found here. In the last three months, insiders sold 22,347 shares of company stock valued at $1,962,778. Insiders own 3.00% of the company’s stock.
AFL has been the subject of several recent analyst reports. Janney Montgomery Scott restated a “buy” rating on shares of AFLAC in a research report on Tuesday, January 16th. Wells Fargo & Co restated a “market perform” rating and set a $90.00 price objective (up from $84.00) on shares of AFLAC in a research report on Tuesday, January 9th. Zacks Investment Research upgraded shares of AFLAC from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. ValuEngine upgraded shares of AFLAC from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Finally, Citigroup upgraded shares of AFLAC to a “strong-buy” rating and raised their price objective for the stock from $88.00 to $100.00 in a research report on Monday, January 22nd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. AFLAC has a consensus rating of “Hold” and a consensus target price of $83.88.
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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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