Gyroscope Capital Management Group LLC boosted its stake in AFLAC Incorporated (NYSE:AFL) by 23.3% in the third quarter, Holdings Channel reports. The fund owned 9,153 shares of the financial services provider’s stock after buying an additional 1,729 shares during the quarter. Gyroscope Capital Management Group LLC’s holdings in AFLAC were worth $468,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Krane Funds Advisors LLC purchased a new position in shares of AFLAC during the 2nd quarter valued at approximately $25,000. Lenox Wealth Advisors LLC purchased a new position in shares of AFLAC during the 3rd quarter valued at approximately $25,000. Pearl River Capital LLC purchased a new position in shares of AFLAC during the 2nd quarter valued at approximately $27,000. North Star Investment Management Corp. purchased a new position in shares of AFLAC during the 3rd quarter valued at approximately $31,000. Finally, Virtus ETF Advisers LLC purchased a new position in shares of AFLAC during the 2nd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 64.24% of the company’s stock.
In related news, Director Barbara K. Rimer sold 4,728 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $53.74, for a total transaction of $254,082.72. Following the transaction, the director now directly owns 32,448 shares in the company, valued at $1,743,755.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Todd Daniels sold 5,552 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $52.98, for a total value of $294,144.96. Following the transaction, the insider now owns 20,101 shares in the company, valued at $1,064,950.98. The disclosure for this sale can be found here. Insiders have sold 15,780 shares of company stock worth $835,628 over the last 90 days. 1.30% of the stock is currently owned by company insiders.
AFL has been the subject of several research analyst reports. Evercore ISI cut AFLAC from an “in-line” rating to an “underperform” rating and set a $56.57 target price for the company. in a research note on Tuesday, July 16th. Bank of America set a $54.00 target price on AFLAC and gave the company a “hold” rating in a research note on Friday, September 27th. Raymond James cut AFLAC from a “strong-buy” rating to an “outperform” rating and set a $62.00 target price for the company. in a research note on Monday, July 29th. UBS Group increased their target price on AFLAC from $51.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, ValuEngine cut AFLAC from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $53.62.
AFL traded up $0.59 during trading hours on Friday, hitting $52.66. 137,520 shares of the stock were exchanged, compared to its average volume of 3,435,311. The stock has a 50-day simple moving average of $51.14 and a 200-day simple moving average of $52.10. AFLAC Incorporated has a 12 month low of $41.45 and a 12 month high of $57.18. The stock has a market cap of $37.79 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 2.83 and a beta of 0.71. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.04 and a quick ratio of 0.04.
AFLAC (NYSE:AFL) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.06. AFLAC had a return on equity of 12.94% and a net margin of 14.24%. The firm had revenue of $5.51 billion for the quarter, compared to analysts’ expectations of $5.46 billion. During the same period last year, the business posted $1.07 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. Sell-side analysts expect that AFLAC Incorporated will post 4.34 EPS for the current year.
Aflac Incorporated, through its subsidiaries, 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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