Millennium Management LLC decreased its position in AFLAC Incorporated (NYSE:AFL) by 17.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 68,203 shares of the financial services provider’s stock after selling 14,441 shares during the period. Millennium Management LLC’s holdings in AFLAC were worth $2,934,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of AFL. Clarus Wealth Advisors purchased a new stake in AFLAC in the 2nd quarter valued at about $121,000. Spectrum Management Group Inc. purchased a new stake in AFLAC in the 2nd quarter valued at about $122,000. Squar Milner Financial Services LLC purchased a new stake in shares of AFLAC during the 2nd quarter worth approximately $130,000. OLD Second National Bank of Aurora increased its stake in shares of AFLAC by 139.3% during the 2nd quarter. OLD Second National Bank of Aurora now owns 3,350 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 1,950 shares during the last quarter. Finally, FormulaFolio Investments LLC purchased a new stake in shares of AFLAC during the 2nd quarter worth approximately $206,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.
Several brokerages have recently issued reports on AFL. Credit Suisse Group decreased their price target on shares of AFLAC from $49.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, August 17th. B. Riley raised their price target on shares of AFLAC from $42.00 to $46.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 7th. Zacks Investment Research lowered shares of AFLAC from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Keefe, Bruyette & Woods restated a “hold” rating and set a $50.00 price target on shares of AFLAC in a research note on Wednesday, August 1st. Finally, ValuEngine lowered shares of AFLAC from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. AFLAC presently has a consensus rating of “Hold” and an average target price of $48.54.
In related news, Director Joseph L. Moskowitz sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $46.38, for a total value of $69,570.00. Following the completion of the transaction, 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 legal filing with the SEC, which can be accessed through this link. Also, Director Douglas Wayne Johnson sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $46.52, for a total transaction of $93,040.00. Following the completion of the transaction, the director now directly owns 29,859 shares of the company’s stock, valued at $1,389,040.68. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
Shares of AFL stock opened at $44.28 on Tuesday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.22. AFLAC Incorporated has a 12-month low of $41.41 and a 12-month high of $48.19. The company has a market cap of $34.14 billion, a PE ratio of 11.80, a P/E/G ratio of 1.37 and a beta of 0.92.
AFLAC (NYSE:AFL) last released its quarterly earnings data on Thursday, July 26th. The financial services provider reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The company had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.52 billion. AFLAC had a net margin of 21.00% and a return on equity of 12.53%. AFLAC’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $0.92 EPS. Equities analysts forecast that AFLAC Incorporated will post 4.05 earnings per share for the current fiscal year.
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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