Capital City Trust Co. FL Purchases 12,894 Shares of Aflac Incorporated $AFL

Key Points

• Capital City Trust Co. FL increased its stake in Aflac by 73.6%, owning 30,411 shares worth approximately $3.2 million at the end of the last quarter.
• Aflac's quarterly earnings showed EPS of $1.78, beating analyst expectations, but experienced a 19% year-over-year revenue decline.
• The company has announced a share repurchase plan authorizing it to buy back 100 million shares, signaling the board's belief that the stock is undervalued.

Capital City Trust Co. FL increased its stake in Aflac Incorporated (NYSE:AFL - Free Report) by 73.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 30,411 shares of the financial services provider's stock after purchasing an additional 12,894 shares during the quarter. Capital City Trust Co. FL's holdings in Aflac were worth $3,207,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Penobscot Investment Management Company Inc. lifted its holdings in Aflac by 1.9% in the 2nd quarter. Penobscot Investment Management Company Inc. now owns 30,134 shares of the financial services provider's stock worth $3,178,000 after purchasing an additional 567 shares during the last quarter. LGT Fund Management Co Ltd. lifted its holdings in Aflac by 644.7% in the 2nd quarter. LGT Fund Management Co Ltd. now owns 14,536 shares of the financial services provider's stock worth $1,533,000 after purchasing an additional 12,584 shares during the last quarter. Stock Yards Bank & Trust Co. lifted its holdings in Aflac by 9.6% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 5,130 shares of the financial services provider's stock worth $541,000 after purchasing an additional 450 shares during the last quarter. Hudson Edge Investment Partners Inc. lifted its holdings in Aflac by 2.3% in the 2nd quarter. Hudson Edge Investment Partners Inc. now owns 64,613 shares of the financial services provider's stock worth $6,814,000 after purchasing an additional 1,471 shares during the last quarter. Finally, Mattern Capital Management LLC lifted its holdings in Aflac by 1.5% in the 2nd quarter. Mattern Capital Management LLC now owns 105,059 shares of the financial services provider's stock worth $11,080,000 after purchasing an additional 1,571 shares during the last quarter. 67.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Aflac news, Director Joseph L. Moskowitz sold 1,000 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $102.57, for a total value of $102,570.00. Following the sale, the director directly owned 25,105 shares in the company, valued at $2,575,019.85. This represents a 3.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.90% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AFL. JPMorgan Chase & Co. boosted their target price on Aflac from $96.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods upped their price target on Aflac from $106.00 to $108.00 and gave the stock a "market perform" rating in a report on Monday, August 11th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Aflac in a report on Saturday, September 27th. Morgan Stanley upped their price target on Aflac from $108.00 to $113.00 and gave the stock an "equal weight" rating in a report on Monday, August 18th. Finally, UBS Group cut their price target on Aflac from $114.00 to $111.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Aflac has a consensus rating of "Hold" and a consensus target price of $109.15.

Aflac Stock Performance

AFL opened at $112.24 on Friday. The stock has a market cap of $60.03 billion, a PE ratio of 25.45, a P/E/G ratio of 3.14 and a beta of 0.86. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.33. Aflac Incorporated has a 1 year low of $96.95 and a 1 year high of $115.50. The stock's 50 day simple moving average is $106.31 and its 200-day simple moving average is $105.39.

Aflac (NYSE:AFL - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.71 by $0.07. The business had revenue of $4.16 billion for the quarter, compared to analysts' expectations of $4.30 billion. Aflac had a return on equity of 15.08% and a net margin of 15.32%.Aflac's quarterly revenue was down 19.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.83 earnings per share. Sell-side analysts forecast that Aflac Incorporated will post 6.88 EPS for the current year.

Aflac announced that its Board of Directors has authorized a share repurchase plan on Tuesday, August 12th that authorizes the company to repurchase 100,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Aflac Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were given a dividend of $0.58 per share. The ex-dividend date was Wednesday, August 20th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.1%. Aflac's payout ratio is currently 52.61%.

Aflac Company Profile

Aflac Incorporated, through its subsidiaries, provides supplemental health and life insurance products. The company operates through Aflac Japan and Aflac U.S. segments. The Aflac Japan segment offers cancer, medical, nursing care, work leave, GIFT, and whole and term life insurance products, as well as WAYS and child endowment plans under saving type insurance products in Japan.

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