QRG Capital Management Inc. Decreases Stake in Aflac Incorporated $AFL

QRG Capital Management Inc. lowered its stake in Aflac Incorporated (NYSE:AFL - Free Report) by 3.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 395,026 shares of the financial services provider's stock after selling 12,011 shares during the quarter. QRG Capital Management Inc. owned 0.07% of Aflac worth $41,659,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. AlphaCore Capital LLC bought a new stake in Aflac in the 1st quarter worth $28,000. Hilltop National Bank bought a new position in shares of Aflac during the second quarter valued at about $32,000. Golden State Wealth Management LLC boosted its holdings in shares of Aflac by 121.9% during the first quarter. Golden State Wealth Management LLC now owns 304 shares of the financial services provider's stock worth $34,000 after purchasing an additional 167 shares during the period. Groupe la Francaise bought a new stake in shares of Aflac in the first quarter worth about $34,000. Finally, Garde Capital Inc. bought a new stake in shares of Aflac in the first quarter worth about $36,000. Institutional investors own 67.44% of the company's stock.

Aflac Stock Up 1.5%

NYSE:AFL opened at $112.24 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.11 and a quick ratio of 0.11. The firm's 50-day moving average price is $106.31 and its 200-day moving average price is $105.41. The company has a market capitalization of $60.03 billion, a PE ratio of 25.45, a P/E/G ratio of 3.09 and a beta of 0.86. Aflac Incorporated has a 1-year low of $96.95 and a 1-year high of $115.50.

Aflac (NYSE:AFL - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $4.16 billion during the quarter, compared to analysts' expectations of $4.30 billion. Aflac had a net margin of 15.32% and a return on equity of 15.08%. Aflac's revenue was down 19.0% on a year-over-year basis. During the same period last year, the company posted $1.83 EPS. On average, equities analysts predict that Aflac Incorporated will post 6.88 EPS for the current fiscal year.

Aflac Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th were paid a $0.58 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $2.32 annualized dividend and a dividend yield of 2.1%. Aflac's dividend payout ratio is presently 52.61%.

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

Wall Street Analysts Forecast Growth

AFL has been the subject of several research analyst reports. Wall Street Zen upgraded Aflac from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Morgan Stanley raised their price target on Aflac from $108.00 to $113.00 and gave the stock an "equal weight" rating in a research note on Monday, August 18th. Keefe, Bruyette & Woods lifted their price target on shares of Aflac from $106.00 to $108.00 and gave the company a "market perform" rating in a report on Monday, August 11th. UBS Group decreased their price objective on shares of Aflac from $114.00 to $111.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Finally, Wells Fargo & Company raised their target price on shares of Aflac from $105.00 to $107.00 and gave the stock an "equal weight" rating in a research report on Monday, August 11th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $109.15.

Insiders Place Their Bets

In other Aflac news, Director Joseph L. Moskowitz sold 1,000 shares of Aflac stock in a transaction on Friday, August 8th. The stock was sold at an average price of $102.57, for a total transaction of $102,570.00. Following the completion of the transaction, the director owned 25,105 shares in the company, valued at approximately $2,575,019.85. The trade was a 3.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by company insiders.

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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