PNC Financial Services Group Inc. reduced its position in AFLAC Incorporated (NYSE:AFL) by 6.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 272,680 shares of the financial services provider’s stock after selling 17,906 shares during the period. PNC Financial Services Group Inc.’s holdings in AFLAC were worth $9,338,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the stock. Bartlett & Co. LLC bought a new position in AFLAC in the 1st quarter valued at about $25,000. Solstein Capital LLC bought a new position in AFLAC in the 4th quarter valued at about $26,000. NWK Group Inc. bought a new position in AFLAC in the 4th quarter valued at about $26,000. Marquette Asset Management LLC bought a new position in AFLAC in the 1st quarter valued at about $27,000. Finally, Atticus Wealth Management LLC bought a new position in AFLAC in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 68.53% of the company’s stock.
In related news, COO Frederick John Crawford bought 25,000 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were purchased at an average price of $28.69 per share, for a total transaction of $717,250.00. Following the completion of the transaction, the chief operating officer now directly owns 247,828 shares of the company’s stock, valued at approximately $7,110,185.32. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.
Shares of NYSE:AFL opened at $34.85 on Friday. The company’s 50 day simple moving average is $35.48 and its 200 day simple moving average is $45.71. The stock has a market capitalization of $25.01 billion, a price-to-earnings ratio of 7.69, a price-to-earnings-growth ratio of 1.61 and a beta of 0.90. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.05 and a quick ratio of 0.05. AFLAC Incorporated has a 1 year low of $23.07 and a 1 year high of $57.18.
AFLAC (NYSE:AFL) last announced its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.11. AFLAC had a net margin of 13.49% and a return on equity of 11.84%. The business had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same period last year, the firm posted $1.12 earnings per share. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. As a group, analysts anticipate that AFLAC Incorporated will post 4.33 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Wednesday, May 20th will be given a $0.28 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $1.12 dividend on an annualized basis and a yield of 3.21%. AFLAC’s dividend payout ratio is currently 25.23%.
AFL has been the topic of several research analyst reports. TheStreet cut shares of AFLAC from a “b-” rating to a “c+” rating in a report on Friday, March 20th. Credit Suisse Group lowered their target price on shares of AFLAC from $45.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, April 27th. Royal Bank of Canada raised shares of AFLAC from an “underperform” rating to a “sector perform” rating and lowered their target price for the stock from $46.00 to $35.00 in a report on Friday, March 20th. SunTrust Banks lowered their target price on shares of AFLAC from $54.00 to $44.00 and set a “hold” rating on the stock in a report on Friday, May 1st. Finally, Raymond James lowered their target price on shares of AFLAC from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, April 17th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $45.51.
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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