AFLAC Incorporated (AFL) Stake Lessened by Evercore Wealth Management LLC
Evercore Wealth Management LLC cut its holdings in shares of AFLAC Incorporated (NYSE:AFL) by 2.7% during the third quarter, HoldingsChannel reports. The firm owned 61,524 shares of the financial services provider’s stock after selling 1,712 shares during the period. Evercore Wealth Management LLC’s holdings in AFLAC were worth $2,896,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of AFL. Moneta Group Investment Advisors LLC grew its holdings in shares of AFLAC by 34,171.9% during the second quarter. Moneta Group Investment Advisors LLC now owns 93,905 shares of the financial services provider’s stock valued at $101,000 after buying an additional 93,631 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in shares of AFLAC during the third quarter valued at $104,000. Truvestments Capital LLC purchased a new stake in shares of AFLAC during the third quarter valued at $107,000. Ancora Advisors LLC purchased a new stake in shares of AFLAC during the third quarter valued at $122,000. Finally, Zions Bancorporation purchased a new stake in shares of AFLAC during the third quarter valued at $131,000. 66.77% of the stock is currently owned by institutional investors and hedge funds.
NYSE:AFL opened at $43.55 on Friday. AFLAC Incorporated has a one year low of $41.41 and a one year high of $48.19. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market capitalization of $33.72 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 1.28 and a beta of 0.96.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Shareholders of record on Wednesday, November 21st were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Tuesday, November 20th. AFLAC’s payout ratio is 30.59%.
In other news, Director Joseph L. Moskowitz sold 1,500 shares of the stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $46.38, for a total transaction of $69,570.00. Following the sale, the director now directly owns 17,779 shares of the company’s stock, valued at approximately $824,590.02. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Douglas Wayne Johnson sold 2,000 shares of the stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $46.52, for a total transaction of $93,040.00. Following the sale, the director now directly owns 29,859 shares in the company, valued at $1,389,040.68. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.
A number of equities research analysts have recently weighed in on AFL shares. Zacks Investment Research raised shares of AFLAC from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Monday, September 3rd. Morgan Stanley boosted their price objective on shares of AFLAC from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, September 27th. ValuEngine lowered shares of AFLAC from a “sell” rating to a “strong sell” rating in a report on Thursday, November 1st. JPMorgan Chase & Co. reissued a “buy” rating on shares of AFLAC in a report on Wednesday, October 3rd. Finally, Credit Suisse Group dropped their price objective on shares of AFLAC from $49.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, August 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. AFLAC currently has an average rating of “Hold” and an average target price of $48.38.
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Aflac Incorporated, through its subsidiary, American Family Life Assurance Company of Columbus, 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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