Destination Wealth Management Lowers stake in AFLAC Incorporated (AFL)

AFLAC Incorporated (AFL) : Destination Wealth Management reduced its stake in AFLAC Incorporated by 10.19% during the most recent quarter end. The investment management company now holds a total of 255,006 shares of AFLAC Incorporated which is valued at $18,707,240 after selling 28,933 shares in AFLAC Incorporated , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.AFLAC Incorporated makes up approximately 1.50% of Destination Wealth Management’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc boosted its stake in AFL in the latest quarter, The investment management firm added 533 additional shares and now holds a total of 11,808 shares of AFLAC Incorporated which is valued at $866,235. AFLAC Incorporated makes up approx 0.03% of Msi Financial Services Inc’s portfolio.Cibc World Markets boosted its stake in AFL in the latest quarter, The investment management firm added 17,979 additional shares and now holds a total of 40,155 shares of AFLAC Incorporated which is valued at $2,950,991. AFLAC Incorporated makes up approx 0.01% of Cibc World Markets’s portfolio.Checchi Capital Advisers reduced its stake in AFL by selling 120 shares or 2.13% in the most recent quarter. The Hedge Fund company now holds 5,526 shares of AFL which is valued at $406,106. AFLAC Incorporated makes up approx 0.10% of Checchi Capital Advisers’s portfolio.First Quadrant L Pca boosted its stake in AFL in the latest quarter, The investment management firm added 90,000 additional shares and now holds a total of 228,000 shares of AFLAC Incorporated which is valued at $16,746,600. AFLAC Incorporated makes up approx 0.36% of First Quadrant L Pca’s portfolio.Davenport Co reduced its stake in AFL by selling 6,287 shares or 19.95% in the most recent quarter. The Hedge Fund company now holds 25,223 shares of AFL which is valued at $1,848,341. AFLAC Incorporated makes up approx 0.03% of Davenport Co’s portfolio.

AFLAC Incorporated closed down -1.04 points or -1.42% at $72.28 with 33,97,376 shares getting traded on Friday. Post opening the session at $71.87, the shares hit an intraday low of $71.12 and an intraday high of $73.88 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, AFLAC Incorporated reported $1.71 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.68. The company had revenue of $5437.00 million for the quarter, compared to analysts expectations of $5469.99 million. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 EPS.

Many Wall Street Analysts have commented on AFLAC Incorporated. AFLAC Incorporated was Downgraded by Sandler O’Neill to ” Hold” on May 23, 2016. AFLAC Incorporated was Downgraded by Keefe Bruyette to ” Mkt Perform” on May 20, 2016. Shares were Downgraded by FBR Capital on May 10, 2016 to ” Mkt Perform” and Lowered the Price Target to $ 68 from a previous price target of $71 .

Aflac Incorporated (Aflac) is a business holding company. The Company is engaged in supplemental health and life insurance which is marketed and administered through its subsidiary American Family Life Assurance Company of Columbus (Aflac). Aflac offers insurance policies in Japan and the United States that provide a layer of financial protection against income and asset loss. Aflac’s insurance business consists of two segments: Aflac Japan and Aflac U.S. Aflac Japan sells voluntary supplemental insurance products including cancer plans medical indemnity plans medical/sickness riders care plans living benefit life plans ordinary life insurance plans and annuities. Aflac U.S. sells insurance products including products designed to protect individuals from depletion of assets such as accident cancer critical illness/care hospital intensive care hospital indemnity fixed-benefit dental and vision care plans and loss-of-income products.

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