Wealth Enhancement Advisory Services LLC Has $33.70 Million Stock Position in Aflac Incorporated $AFL

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Aflac Incorporated by 12.7% during the second quarter, holding approximately $33.70 million worth of shares.
• Aflac reported quarterly earnings of $1.78 per share, surpassing the consensus estimate of $1.71, though its revenue declined 19% year-over-year.
• The company approved a stock repurchase plan allowing the buyback of 100 million shares, a move often signifying that the board believes the stock is undervalued.

Wealth Enhancement Advisory Services LLC increased its position in shares of Aflac Incorporated (NYSE:AFL - Free Report) by 12.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 322,275 shares of the financial services provider's stock after buying an additional 36,403 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.06% of Aflac worth $33,700,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Aflac during the 1st quarter worth $2,070,000. Belpointe Asset Management LLC bought a new stake in shares of Aflac during the 1st quarter worth $551,000. Golden State Wealth Management LLC boosted its holdings in shares of Aflac by 121.9% during the 1st quarter. Golden State Wealth Management LLC now owns 304 shares of the financial services provider's stock worth $34,000 after buying an additional 167 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Aflac by 11.8% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 32,982 shares of the financial services provider's stock worth $3,478,000 after buying an additional 3,484 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Aflac by 28.2% during the 1st quarter. Jones Financial Companies Lllp now owns 94,239 shares of the financial services provider's stock worth $10,350,000 after buying an additional 20,733 shares during the period. 67.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods increased 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. Morgan Stanley increased their price target on shares of Aflac from $108.00 to $113.00 and gave the company an "equal weight" rating in a report on Monday, August 18th. Raymond James Financial reduced their price target on shares of Aflac from $115.00 to $110.00 and set an "outperform" rating for the company in a report on Thursday, May 29th. Wells Fargo & Company increased their price target on shares of Aflac from $105.00 to $107.00 and gave the company an "equal weight" rating in a report on Monday, August 11th. Finally, Wall Street Zen raised shares of Aflac from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Three investment 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. Based on data from MarketBeat.com, Aflac currently has a consensus rating of "Hold" and a consensus target price of $109.15.

Aflac Price Performance

Shares of NYSE:AFL traded up $1.45 during midday trading on Tuesday, reaching $108.85. 311,357 shares of the company's stock were exchanged, compared to its average volume of 2,235,751. The company's 50 day simple moving average is $104.78 and its two-hundred day simple moving average is $105.15. The firm has a market capitalization of $58.22 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 3.02 and a beta of 0.85. Aflac Incorporated has a 12 month low of $96.95 and a 12 month high of $115.50. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.11 and a current ratio of 0.11.

Aflac (NYSE:AFL - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.71 by $0.07. The company had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.30 billion. Aflac had a net margin of 15.32% and a return on equity of 15.08%. The firm's revenue for the quarter was down 19.0% compared to the same quarter last year. During the same period last year, the firm earned $1.83 EPS. Equities research analysts expect that Aflac Incorporated will post 6.88 earnings per share for the current fiscal year.

Aflac Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors 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 dividend payout ratio (DPR) is 52.61%.

Aflac announced that its Board of Directors has initiated a share repurchase program on Tuesday, August 12th that permits the company to buyback 100,000,000 shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In related news, Director Joseph L. Moskowitz sold 1,000 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $102.57, for a total transaction of $102,570.00. Following the completion of the sale, the director owned 25,105 shares in the company, valued at $2,575,019.85. This trade represents a 3.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.80% of the stock is owned by company insiders.

Aflac 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.