Associated Banc Corp raised its holdings in shares of Aflac (NYSE:AFL) by 39.3% in the 1st quarter, Holdings Channel reports. The fund owned 10,090 shares of the financial services provider’s stock after purchasing an additional 2,845 shares during the quarter. Associated Banc Corp’s holdings in Aflac were worth $442,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. SeaCrest Wealth Management LLC bought a new stake in shares of Aflac during the 4th quarter valued at $101,000. Omnia Family Wealth LLC raised its position in shares of Aflac by 261.9% during the 4th quarter. Omnia Family Wealth LLC now owns 1,245 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 901 shares during the last quarter. Advisors Preferred LLC bought a new stake in shares of Aflac during the 4th quarter valued at $121,000. Legacy Advisors LLC raised its position in shares of Aflac by 921.5% during the 4th quarter. Legacy Advisors LLC now owns 1,471 shares of the financial services provider’s stock valued at $129,000 after acquiring an additional 1,327 shares during the last quarter. Finally, Calton & Associates Inc. bought a new stake in shares of Aflac during the 4th quarter valued at $145,000. Institutional investors own 41.95% of the company’s stock.
AFL has been the subject of several research analyst reports. Sandler O’Neill reissued a “hold” rating and issued a $47.00 price target on shares of Aflac in a report on Thursday, April 5th. Zacks Investment Research lowered shares of Aflac from a “buy” rating to a “hold” rating in a report on Wednesday, March 28th. Bank of America initiated coverage on shares of Aflac in a report on Monday, March 26th. They issued a “neutral” rating and a $49.00 price target for the company. Citigroup raised shares of Aflac to a “strong-buy” rating and boosted their price target for the company from $44.00 to $50.00 in a report on Monday, January 22nd. Finally, Raymond James raised shares of Aflac from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $44.00 to $50.00 in a report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $46.46.
Aflac (NYSE:AFL) last announced its earnings results on Wednesday, April 25th. The financial services provider reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.08. The firm had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.48 billion. Aflac had a net margin of 20.61% and a return on equity of 12.39%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.47 EPS. sell-side analysts expect that Aflac will post 3.95 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Wednesday, May 23rd will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Tuesday, May 22nd. Aflac’s payout ratio is presently 30.59%.
In related news, insider June P. Howard sold 2,648 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $90.33, for a total value of $239,193.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles B. Knapp sold 10,000 shares of the company’s stock in a transaction on Monday, March 26th. The stock was sold at an average price of $43.72, for a total transaction of $437,200.00. Following the completion of the transaction, the director now directly owns 76,582 shares of the company’s stock, valued at $3,348,165.04. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.
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.
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