Aflac Incorporated (AFL) Shares Sold by Beacon Financial Group
Beacon Financial Group decreased its position in shares of Aflac Incorporated (NYSE:AFL) by 29.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,985 shares of the financial services provider’s stock after selling 2,047 shares during the quarter. Beacon Financial Group’s holdings in Aflac were worth $406,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. Toronto Dominion Bank boosted its stake in shares of Aflac by 2.8% during the 2nd quarter. Toronto Dominion Bank now owns 135,593 shares of the financial services provider’s stock worth $10,531,000 after acquiring an additional 3,666 shares in the last quarter. Cookson Peirce & Co. Inc. boosted its stake in shares of Aflac by 3.0% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 8,915 shares of the financial services provider’s stock worth $693,000 after acquiring an additional 260 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of Aflac during the 2nd quarter worth approximately $609,000. Advisory Services Network LLC boosted its stake in shares of Aflac by 1.0% during the 2nd quarter. Advisory Services Network LLC now owns 4,915 shares of the financial services provider’s stock worth $382,000 after acquiring an additional 49 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Aflac during the 2nd quarter worth approximately $358,000. 65.60% of the stock is currently owned by institutional investors and hedge funds.
Aflac Incorporated (NYSE AFL) traded down 0.02% during midday trading on Wednesday, reaching $83.74. The company had a trading volume of 317,990 shares. The company has a market capitalization of $33.10 billion, a P/E ratio of 12.66 and a beta of 0.96. Aflac Incorporated has a 52-week low of $66.50 and a 52-week high of $84.68. The company’s 50 day moving average is $82.63 and its 200-day moving average is $78.12.
Aflac (NYSE:AFL) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.20. Aflac had a net margin of 11.98% and a return on equity of 13.09%. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same quarter last year, the business posted $1.65 EPS. The company’s revenue was down .2% on a year-over-year basis. Equities analysts expect that Aflac Incorporated will post $6.69 earnings per share for the current fiscal year.
Aflac declared that its board has approved a share repurchase program on Tuesday, August 8th that permits the company to repurchase 40,000,000 shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
Several equities research analysts have recently commented on the company. Zacks Investment Research lowered Aflac from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. Citigroup Inc. lowered Aflac from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $82.00 to $77.00 in a research note on Tuesday, September 26th. Goldman Sachs Group, Inc. (The) assumed coverage on Aflac in a research note on Wednesday. They set a “neutral” rating and a $88.00 price target on the stock. Royal Bank Of Canada reissued a “sell” rating and set a $71.00 price target on shares of Aflac in a research note on Tuesday, October 10th. Finally, Wells Fargo & Company reissued a “hold” rating and set a $82.00 price target on shares of Aflac in a research note on Thursday, September 28th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Aflac currently has a consensus rating of “Hold” and a consensus price target of $79.63.
In related news, President Kriss Cloninger III sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $81.06, for a total value of $283,710.00. Following the completion of the transaction, the president now owns 253,196 shares of the company’s stock, valued at approximately $20,524,067.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elizabeth J. Hudson sold 1,279 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $83.76, for a total transaction of $107,129.04. Following the completion of the transaction, the director now directly owns 11,075 shares of the company’s stock, valued at approximately $927,642. The disclosure for this sale can be found here. Insiders sold a total of 31,899 shares of company stock valued at $2,662,483 in the last ninety days. Company insiders own 3.00% of the company’s stock.
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Aflac Incorporated is a business holding company. The Company is involved in supplemental health and life insurance, which is marketed and administered through its subsidiary, American Family Life Assurance Company of Columbus (Aflac). The Company’s insurance business consists of two segments: Aflac Japan and Aflac U.S.
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