The Manufacturers Life Insurance Company decreased its position in Aflac Incorporated (NYSE:AFL) by 21.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 683,346 shares of the financial services provider’s stock after selling 183,660 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.10% of Aflac worth $24,839,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of AFL. Ovata Capital Management Ltd bought a new position in shares of Aflac during the second quarter valued at $35,000. Ninety One SA PTY Ltd boosted its position in Aflac by 1,144.4% in the second quarter. Ninety One SA PTY Ltd now owns 672 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 618 shares during the last quarter. Kore Private Wealth LLC boosted its position in Aflac by 3,376.7% in the second quarter. Kore Private Wealth LLC now owns 1,043 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 1,013 shares during the last quarter. Prestige Wealth Management Group LLC boosted its position in Aflac by 70.3% in the third quarter. Prestige Wealth Management Group LLC now owns 1,102 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 455 shares during the last quarter. Finally, First National Bank of South Miami purchased a new position in Aflac in the second quarter worth about $43,000. Institutional investors and hedge funds own 63.35% of the company’s stock.
AFL has been the topic of several research reports. TheStreet raised Aflac from a “c+” rating to a “b-” rating in a research report on Wednesday, October 7th. SunTrust Banks dropped their target price on Aflac from $44.00 to $37.00 and set a “hold” rating on the stock in a research report on Thursday, July 30th. Morgan Stanley raised their target price on Aflac from $48.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Wednesday. ValuEngine cut Aflac from a “sell” rating to a “strong sell” rating in a research report on Monday, August 3rd. Finally, Credit Suisse Group raised their price objective on Aflac from $35.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $43.63.
Aflac (NYSE:AFL) last posted its quarterly earnings data on Sunday, November 1st. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.14 by $0.25. Aflac had a return on equity of 12.12% and a net margin of 21.11%. During the same period in the prior year, the company earned $1.16 EPS. Research analysts anticipate that Aflac Incorporated will post 4.93 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 1st. Investors of record on Wednesday, February 17th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.01%. The ex-dividend date is Tuesday, February 16th. This is an increase from Aflac’s previous quarterly dividend of $0.28. Aflac’s dividend payout ratio (DPR) is 25.23%.
Aflac Incorporated, through its subsidiaries, provides supplemental health and life insurance products. It operates through two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers cancer, medical, income support, and whole and term life insurance products, as well as WAYS and child endowment plans under saving type insurance products.
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