Aflac Incorporated
 (AFL)

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  • Feb. 4, 2014, 4:33 PM
    • AFLAC Incorporated (AFL) declares $0.37/share quarterly dividend, in line with previous.
    • Forward yield 2.41%
    • Payable March 3; for shareholders of record Feb. 14; ex-div Feb. 12.
    | Feb. 4, 2014, 4:33 PM
  • Feb. 4, 2014, 4:33 PM
    • Revenue of $5.8B fell 9% from a year ago thanks to the big slide in the yen. Operating earnings per share of $1.40 fell from $1.48 a year ago, with the weaker yen accounting for $0.18 of the drop.
    • Company repurchased 7.6M shares for $502M, bringing full year buybacks to 13.2M shares for $800M. The current authorization has 49.2M more shares available.
    • Book value of $31.82 per share is up from $31.47 at the end of Q3. Annualized ROE on an operating basis in Q4 of 18.5% would have been 22.4% without the impact of the yen.
    • 2014 outlook: U.S. sales growth flat to up 5%; Japan sales of third sector cancer and medical products up 2%-7%. Goal is to increase operating EPS by 2-5% on a currency neutral basis. Share repurchases will help, but headwinds include the low interest rate environment in Japan, sizable infrastructure investments to be made in both the U.S. and Japan, and a boost in Japan's consumption tax to 8% from 5%.
    • CC tomorrow at 9 ET
    • AFL -0.8% AH
    | Feb. 4, 2014, 4:33 PM | 1 Comment
  • Feb. 4, 2014, 4:12 PM
    • AFLAC Incorporated (AFL): Q4 EPS of $1.40 beats by $0.01.
    • Revenue of $5.8B (-9.1% Y/Y) misses by $110M.
    | Feb. 4, 2014, 4:12 PM
  • Feb. 4, 2014, 12:10 AM
  • Feb. 3, 2014, 5:35 PM
  • Jan. 29, 2014, 12:59 PM
    • Strong equity markets in Q4 should propel earnings for life insurers (set to start this week), writes Credit Suisse's Tom Gallagher, particularly those with variable annuity and asset management/retirement exposure. MetLife (MET -0.6%), Prudential (PRU -0.5%), and Lincoln National (LNC -1.1%), of course, have been busily trying to reduce exposure to variable annuities after nearly being brought down by them in the financial crisis.
    • Deutshce's Yaron Kinar also strikes a bullish note, welcoming the big declines so far this year as a buying opportunity.
    • Hartford (HIG -0.6%) is expected to post EPS of $0.90 vs. $0.54 a year earlier, and guidance should "be supportive" of his 2014 estimate of $3.62, says Gallagher, who rates the stock at Outperform.
    • Principal Financial (PFG -0.9%) is expected to report $0.93 vs. $0.82 a year ago. Kinar expects a slowdown in buybacks to $23M. He rates the shares a Hold.
    • Aflac (AFL +0.5%) is expected to post $1.39, down from $1.48 a year ago. Gallagher's numbers are higher, but he rates the shares only at Neutral.
    • Capital returns at Ameriprise (AMP -0.6%) are estimated at $475M in Q4 - $375M in buybacks and $100M dividend - says Gallagher, rating the stock at Neutral.
    • Prudential (PRU -0.5%) - rated at Outperform by Gallagher - should report $2.33 vs. $1.69 a year ago.
    • MetLife (MET -0.6%) - rated a Buy by Kinar - may disappoint in the headline number thanks to a boosted share count due to the conversion of $1B in equity units. Investors hope to hear some clarity on buybacks, but shouldn't hold their breath until the insurer gets more guidance from the Fed.
    • Gallagher rates AIG at Outperform though the insurer continues to suffer an underwriting loss - this creates opportunity, however, for a catalyst going forward from improvement in this trend.
    | Jan. 29, 2014, 12:59 PM | 1 Comment
  • Jan. 6, 2014, 8:46 AM
    • The team cites headwinds to Japan earnings repatriation and valuation. Aflac's (AFL) price target, however, is boosted to $67 from $66.
    | Jan. 6, 2014, 8:46 AM | 3 Comments
  • Nov. 13, 2013, 5:13 PM
    • Aflac (AFL) nearly triples its share repurchase authorization, adding 40M shares to the remaining 16.9M shares under the prior authorization. If the new authorization is used in full, it would be good for reducing shares outstanding by 9.1%.
    • Aflac expects to repurchase $800M in shares in 2013 and $800M-$1B in 2014.
    • The company also recently hiked its quarterly dividend by 5.7%.
    • Shares +1.1% AH
    | Nov. 13, 2013, 5:13 PM | 6 Comments
  • Oct. 30, 2013, 7:13 AM
    | Oct. 30, 2013, 7:13 AM | 3 Comments
  • Oct. 29, 2013, 5:13 PM
    • AFLAC Incorporated (AFL) declares $0.37/share quarterly dividend, 5.7% increase from prior dividend of $0.35.
    • Forward yield 2.21%
    • Payable Dec. 2; for shareholders of record Nov. 20; ex-div Nov. 18.
    | Oct. 29, 2013, 5:13 PM | 10 Comments
  • Oct. 29, 2013, 4:30 PM
    • Operating earnings of $687M or $1.47 per share fell from $831M or $1.77 per share a year ago, with $0.21 of the decline due to the yen's decline. Excluding the yen's impact, operating earnings fell 5.1%.
    • About 308K shares repurchased in Q3 for roughly $18.5M, a far slower pace than the rest of the year - for the first 9 months of 2013, 5.6M shares were repurchased for $298M. Management expects full year repurchase total to be $800M, ahead of pervious guidance of $400M-$600M. 2014 buybacks are expected to be $800M-$1B compared to previous guidance of $600M-$900M.
    • Book value per share of $31.47 vs. $29.46 at end of Q2.
    • The quarterly dividend is boosted 5.7% to $0.37 per share for annualized yield of 2.21%.
    • FY2014 operating EPS expected at $6.28-$6.52 if the yen averages ¥95-¥100 to the dollar. It represents a growth rate of 2-5% thanks to buybacks balancing out "several headwinds," including low rates in Japan, spending plans here and in Japan, and an increase in Japan's consumption tax starting in April.
    • Conference call tomorrow at 9 ET.
    • AFL -0.7% AH.
    | Oct. 29, 2013, 4:30 PM | 1 Comment
  • Oct. 29, 2013, 4:17 PM
    • Aflac (AFL): Q3 EPS of $1.47 misses by $0.01. Revenue of $5.9B inline. (PR)
    | Oct. 29, 2013, 4:17 PM | 2 Comments
  • Oct. 29, 2013, 12:10 AM
  • Oct. 28, 2013, 5:35 PM
  • Oct. 1, 2013, 7:31 AM
    • Aflac (AFL) is ready to close its 30% YTD underperformance gap to peers, says analyst Randy Binner, thanks to the boost to sales from the Japan Post deal, better news on solvency margin ratio (SMR), and yen repatriation.
    • Previous: Aflac management believes the Japan Post alliance is a game-changer.
    • The price target is lifted to $71 from $60.
    | Oct. 1, 2013, 7:31 AM | 3 Comments
  • Sep. 17, 2013, 9:49 AM
    • "We determined that the product did not meet our sales targets and profit objectives," says Aflac (AFL +0.3%) CEO Dan Amos in an emailed statement explaining why the insurer is withdrawing from the U.S. Medicare supplement market after a year.
    | Sep. 17, 2013, 9:49 AM | 5 Comments
Company Description
Aflac Inc is a general business holding company and acts as a management company. The Company sells supplemental health and life insurance in the United States and Japan.