Stocks: Cottage Street Advisors LLC Has $619,000 Stake in AFLAC Incorporated (AFL)

Stocks: Cottage Street Advisors LLC Has $619,000 Stake in AFLAC Incorporated (AFL)

Cottage Street Advisors LLC decreased its position in AFLAC Incorporated (NYSE:AFL) by 5.0% during the first quarter, Holdings Channel reports. The institutional investor owned 8,540 shares of the financial services provider’s stock after selling 450 shares during the period. Cottage Street Advisors LLC’s holdings in AFLAC were worth $619,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Rothschild Asset Management Inc. purchased a new position in shares of AFLAC during the third quarter worth $522,000. Capital One National Association increased its position in shares of AFLAC by 1.4% in the third quarter. Capital One National Association now owns 13,186 shares of the financial services provider’s stock worth $947,000 after buying an additional 179 shares in the last quarter. BerganKDV Wealth Management LLC increased its position in shares of AFLAC by 0.5% in the third quarter. BerganKDV Wealth Management LLC now owns 11,285 shares of the financial services provider’s stock worth $811,000 after buying an additional 56 shares in the last quarter. APG Asset Management N.V. increased its position in shares of AFLAC by 23.6% in the third quarter. APG Asset Management N.V. now owns 693,852 shares of the financial services provider’s stock worth $49,867,000 after buying an additional 132,600 shares in the last quarter. Finally, Cornerstone Wealth Management LLC purchased a new position in shares of AFLAC during the third quarter worth $332,000. 62.45% of the stock is owned by institutional investors and hedge funds.

AFLAC Incorporated (NYSE:AFL) traded down 0.22% during midday trading on Friday, reaching $73.80. 66,977 shares of the company’s stock traded hands. AFLAC Incorporated has a 52-week low of $66.50 and a 52-week high of $76.88. The company’s 50-day moving average price is $73.49 and its 200-day moving average price is $71.25. The stock has a market cap of $29.29 billion, a P/E ratio of 12.00 and a beta of 1.01.

AFLAC (NYSE:AFL) last issued its quarterly earnings results on Thursday, April 27th. The financial services provider reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.05. AFLAC had a net margin of 11.79% and a return on equity of 13.10%. The business had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the previous year, the firm earned $1.74 earnings per share. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities analysts predict that AFLAC Incorporated will post $6.51 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Wednesday, May 24th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.33%. The ex-dividend date is Monday, May 22nd. AFLAC’s dividend payout ratio is currently 26.75%.

A number of equities analysts recently weighed in on AFL shares. Citigroup Inc started coverage on shares of AFLAC in a research note on Thursday, January 26th. They set a “neutral” rating and a $73.00 target price for the company. Royal Bank of Canada lowered their target price on shares of AFLAC from $65.00 to $62.00 and set an “underperform” rating for the company in a research note on Thursday, February 2nd. Zacks Investment Research downgraded shares of AFLAC from a “hold” rating to a “sell” rating in a research note on Tuesday, February 7th. JPMorgan Chase & Co. raised shares of AFLAC from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $71.71 to $75.00 in a research note on Monday, February 27th. Finally, Bank of America Corp raised shares of AFLAC from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $75.00 to $78.00 in a research note on Thursday, April 6th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $73.71.

In other news, Director Robert B. Johnson sold 1,975 shares of AFLAC stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $71.45, for a total transaction of $141,113.75. Following the sale, the director now owns 15,306 shares in the company, valued at $1,093,613.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert B. Johnson sold 2,000 shares of AFLAC stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $70.92, for a total transaction of $141,840.00. Following the sale, the director now owns 19,281 shares in the company, valued at approximately $1,367,408.52. The disclosure for this sale can be found here. Insiders have sold 52,630 shares of company stock worth $3,760,333 in the last ninety days. Insiders own 3.90% of the company’s stock.

AFLAC Company Profile

Aflac Incorporated is a business holding company. The Company is involved in supplemental health and life insurance, which is marketed and administered through its subsidiary, American Family Life Assurance Company of Columbus (Aflac). The Company’s insurance business consists of two segments: Aflac Japan and Aflac U.S.

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