Aflac Incorporated to Post FY2018 Earnings of $6.75 Per Share, Langen Mcalenn Forecasts (AFL)
Aflac Incorporated (NYSE:AFL) – Langen Mcalenn cut their FY2018 earnings per share (EPS) estimates for Aflac in a research note issued to investors on Monday. Langen Mcalenn analyst L. Greenberg now forecasts that the financial services provider will post earnings of $6.75 per share for the year, down from their previous estimate of $6.80.
Aflac (NYSE:AFL) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.63 by $0.07. Aflac had a return on equity of 12.87% and a net margin of 12.49%. The firm had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the prior year, the business posted $1.74 EPS. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. TRADEMARK VIOLATION NOTICE: “Aflac Incorporated to Post FY2018 Earnings of $6.75 Per Share, Langen Mcalenn Forecasts (AFL)” was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this news story on another site, it was copied illegally and republished in violation of international trademark & copyright laws. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/11/01/aflac-incorporated-to-post-fy2018-earnings-of-6-75-per-share-langen-mcalenn-forecasts-afl.html.
A number of other equities analysts also recently commented on AFL. Wells Fargo & Company set a $82.00 target price on shares of Aflac and gave the stock a “hold” rating in a research note on Wednesday, October 25th. ValuEngine upgraded shares of Aflac from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Citigroup Inc. downgraded shares of Aflac from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $82.00 to $77.00 in a research note on Tuesday, September 26th. Goldman Sachs Group, Inc. (The) began coverage on shares of Aflac in a research note on Wednesday, October 18th. They set a “neutral” rating and a $88.00 target price for the company. Finally, BidaskClub downgraded shares of Aflac from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $79.63.
Aflac announced that its Board of Directors has approved a share repurchase plan on Tuesday, August 8th that allows the company to repurchase 40,000,000 shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.15%. This is a boost from Aflac’s previous quarterly dividend of $0.43. The ex-dividend date is Tuesday, November 14th. Aflac’s dividend payout ratio is presently 24.93%.
In other news, President Kriss Cloninger III sold 3,500 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $81.06, for a total value of $283,710.00. Following the completion of the sale, the president now directly owns 253,196 shares of the company’s stock, valued at $20,524,067.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Audrey B. Tillman sold 310 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $83.57, for a total transaction of $25,906.70. Following the completion of the sale, the insider now directly owns 41,937 shares of the company’s stock, valued at $3,504,675.09. The disclosure for this sale can be found here. Insiders sold 32,209 shares of company stock valued at $2,688,390 over the last ninety days. Corporate insiders own 3.00% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Bollard Group LLC raised its holdings in shares of Aflac by 0.6% in the second quarter. Bollard Group LLC now owns 2,339 shares of the financial services provider’s stock valued at $182,000 after buying an additional 14 shares during the last quarter. Washington Trust Bank raised its holdings in shares of Aflac by 0.9% in the second quarter. Washington Trust Bank now owns 1,704 shares of the financial services provider’s stock valued at $132,000 after buying an additional 16 shares during the last quarter. Balentine LLC raised its holdings in shares of Aflac by 0.3% in the second quarter. Balentine LLC now owns 6,649 shares of the financial services provider’s stock valued at $516,000 after buying an additional 18 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Aflac by 0.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 7,259 shares of the financial services provider’s stock valued at $564,000 after buying an additional 27 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of Aflac by 2.1% in the second quarter. CWM LLC now owns 1,430 shares of the financial services provider’s stock valued at $111,000 after buying an additional 30 shares during the last quarter. 65.83% of the stock is owned by institutional investors and hedge funds.
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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