Welch & Forbes LLC reduced its position in AFLAC Incorporated (NYSE:AFL) by 0.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 672,049 shares of the financial services provider’s stock after selling 3,178 shares during the quarter. Welch & Forbes LLC owned about 0.09% of AFLAC worth $35,162,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of AFL. Krane Funds Advisors LLC acquired a new stake in shares of AFLAC in the second quarter valued at approximately $25,000. Lenox Wealth Advisors LLC acquired a new stake in shares of AFLAC during the third quarter worth $25,000. Pearl River Capital LLC acquired a new stake in shares of AFLAC during the second quarter worth $27,000. North Star Investment Management Corp. acquired a new stake in shares of AFLAC during the third quarter worth $31,000. Finally, Virtus ETF Advisers LLC acquired a new stake in shares of AFLAC during the second quarter worth $32,000. 64.24% of the stock is owned by institutional investors and hedge funds.
In other AFLAC news, Director Barbara K. Rimer sold 4,728 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $53.74, for a total value of $254,082.72. Following the completion of the sale, the director now owns 32,448 shares of the company’s stock, valued at $1,743,755.52. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Toshihiko Fukuzawa sold 1,500 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $52.00, for a total value of $78,000.00. Following the completion of the sale, the director now directly owns 11,349 shares of the company’s stock, valued at approximately $590,148. The disclosure for this sale can be found here. In the last three months, insiders sold 15,780 shares of company stock valued at $835,628. 1.30% of the stock is owned by corporate insiders.
AFLAC (NYSE:AFL) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.06. AFLAC had a return on equity of 12.94% and a net margin of 14.24%. The firm had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same period last year, the company earned $1.07 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. Analysts anticipate that AFLAC Incorporated will post 4.34 earnings per share for the current fiscal year.
AFL has been the subject of several recent research reports. ValuEngine downgraded AFLAC from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Bank of America set a $54.00 price target on AFLAC and gave the stock a “hold” rating in a report on Friday, September 27th. Evercore ISI downgraded AFLAC from an “in-line” rating to an “underperform” rating and set a $56.57 price target for the company. in a report on Tuesday, July 16th. Raymond James downgraded AFLAC from a “strong-buy” rating to an “outperform” rating and set a $62.00 price target for the company. in a report on Monday, July 29th. Finally, UBS Group increased their price target on AFLAC from $51.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $53.62.
Aflac Incorporated, through its subsidiaries, 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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