Palisade Asset Management LLC decreased its position in AFLAC Incorporated (NYSE:AFL) by 1.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 222,839 shares of the financial services provider’s stock after selling 2,391 shares during the period. AFLAC accounts for about 1.8% of Palisade Asset Management LLC’s investment portfolio, making the stock its 15th biggest position. Palisade Asset Management LLC’s holdings in AFLAC were worth $11,659,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Natixis Advisors L.P. increased its position in shares of AFLAC by 1.1% during the second quarter. Natixis Advisors L.P. now owns 56,226 shares of the financial services provider’s stock worth $3,082,000 after purchasing an additional 639 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of AFLAC by 21.0% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 797,297 shares of the financial services provider’s stock worth $43,493,000 after purchasing an additional 138,166 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of AFLAC by 3.2% during the second quarter. Daiwa Securities Group Inc. now owns 42,152 shares of the financial services provider’s stock worth $2,311,000 after purchasing an additional 1,300 shares in the last quarter. Meridian Wealth Management LLC acquired a new position in shares of AFLAC during the first quarter worth $60,000. Finally, Oregon Public Employees Retirement Fund increased its position in shares of AFLAC by 8.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 167,810 shares of the financial services provider’s stock worth $9,198,000 after purchasing an additional 13,349 shares in the last quarter. Hedge funds and other institutional investors own 64.30% of the company’s stock.
In other AFLAC news, Director Toshihiko Fukuzawa sold 1,500 shares of the company’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 sale, the director now directly owns 11,349 shares of the company’s stock, valued at $590,148. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider June P. Howard sold 4,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $52.35, for a total transaction of $209,400.00. Following the completion of the sale, the insider now directly owns 64,591 shares in the company, valued at $3,381,338.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,780 shares of company stock worth $835,628. 1.30% of the stock is owned by corporate insiders.
Shares of AFL traded up $0.17 during trading hours on Thursday, reaching $52.83. 502,217 shares of the company traded hands, compared to its average volume of 3,378,295. The stock has a market capitalization of $38.99 billion, a P/E ratio of 12.70, a P/E/G ratio of 2.90 and a beta of 0.71. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.22. AFLAC Incorporated has a 12-month low of $41.45 and a 12-month high of $57.18. The business has a fifty day moving average price of $51.58 and a 200-day moving average price of $52.19.
AFLAC (NYSE:AFL) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.06. AFLAC had a net margin of 14.24% and a return on equity of 12.94%. The firm had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same period in the previous year, the company earned $1.07 earnings per share. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, research analysts predict that AFLAC Incorporated will post 4.36 EPS for the current fiscal year.
A number of brokerages have recently issued reports on AFL. ValuEngine downgraded AFLAC from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Raymond James lowered shares of AFLAC from a “strong-buy” rating to an “outperform” rating and set a $62.00 price objective on the stock. in a report on Monday, July 29th. UBS Group boosted their price objective on shares of AFLAC from $51.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Morgan Stanley boosted their price objective on shares of AFLAC from $53.00 to $54.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Finally, Bank of America set a $54.00 price objective on shares of AFLAC and gave the company a “hold” rating in a report on Friday, September 27th. 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 stock currently has an average rating of “Hold” and a consensus price target 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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