The Manufacturers Life Insurance Company lessened its holdings in shares of Aflac Incorporated (NYSE:AFL) by 21.2% in the third quarter, according to the company in its most recent disclosure with the Securities & 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 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the stock. Victory Capital Management Inc. boosted its position in shares of Aflac by 1.8% during the third quarter. Victory Capital Management Inc. now owns 6,495,357 shares of the financial services provider’s stock valued at $236,106,000 after buying an additional 112,060 shares during the last quarter. FMR LLC boosted its position in Aflac by 12.3% in the second quarter. FMR LLC now owns 5,751,850 shares of the financial services provider’s stock worth $207,239,000 after purchasing an additional 628,922 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Aflac by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 5,619,903 shares of the financial services provider’s stock worth $202,484,000 after purchasing an additional 100,494 shares during the last quarter. LSV Asset Management boosted its position in Aflac by 12.8% in the third quarter. LSV Asset Management now owns 4,804,563 shares of the financial services provider’s stock worth $174,645,000 after purchasing an additional 546,524 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in Aflac by 39.0% in the second quarter. Rockefeller Capital Management L.P. now owns 3,888,237 shares of the financial services provider’s stock worth $140,093,000 after purchasing an additional 1,091,372 shares during the last quarter. Institutional investors own 63.35% of the company’s stock.
AFL has been the topic of several research reports. 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. Credit Suisse Group raised their target price on Aflac from $35.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 22nd. 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. TheStreet raised Aflac from a “c+” rating to a “b-” rating in a research report on Wednesday, October 7th. Finally, ValuEngine downgraded Aflac from a “sell” rating to a “strong sell” rating in a research note on Monday, August 3rd. 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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