Baker Avenue Asset Management LP Increases Holdings in Aflac Incorporated (NYSE:AFL)

Baker Avenue Asset Management LP boosted its position in Aflac Incorporated (NYSE:AFL) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 79,058 shares of the financial services provider’s stock after buying an additional 156 shares during the period. Baker Avenue Asset Management LP’s holdings in Aflac were worth $8,178,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Whipplewood Advisors LLC purchased a new position in shares of Aflac during the fourth quarter worth $26,000. BankPlus Trust Department acquired a new stake in Aflac during the 4th quarter worth about $34,000. Curio Wealth LLC purchased a new position in shares of Aflac during the 4th quarter valued at about $36,000. OFI Invest Asset Management acquired a new position in shares of Aflac in the 4th quarter valued at about $38,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of Aflac in the fourth quarter worth about $41,000. Institutional investors and hedge funds own 67.44% of the company’s stock.

Aflac Price Performance

Shares of NYSE AFL opened at $105.51 on Friday. The firm has a 50-day simple moving average of $107.40 and a 200-day simple moving average of $106.88. The company has a quick ratio of 0.08, a current ratio of 0.10 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $57.59 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 3.24 and a beta of 0.84. Aflac Incorporated has a 52 week low of $83.27 and a 52 week high of $115.50.

Aflac (NYSE:AFL) last released its earnings results on Wednesday, April 30th. The financial services provider reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.01). The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $4.53 billion. Aflac had a return on equity of 16.20% and a net margin of 28.76%. The company’s revenue for the quarter was down 37.5% compared to the same quarter last year. During the same period last year, the business earned $1.66 earnings per share. On average, equities analysts predict that Aflac Incorporated will post 6.88 earnings per share for the current fiscal year.

Aflac Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, May 21st will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Wednesday, May 21st. Aflac’s dividend payout ratio (DPR) is presently 36.25%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AFL. Barclays boosted their price target on Aflac from $95.00 to $96.00 and gave the company an “underweight” rating in a report on Thursday. Morgan Stanley dropped their price target on shares of Aflac from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company decreased their price objective on shares of Aflac from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. UBS Group lifted their price target on Aflac from $109.00 to $114.00 and gave the company a “neutral” rating in a research note on Wednesday, April 2nd. Finally, BMO Capital Markets assumed coverage on Aflac in a research report on Thursday, January 23rd. They set a “market perform” rating and a $111.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $104.00.

Insider Transactions at Aflac

In other news, Director Charles D. Lake II sold 29,802 shares of Aflac stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $107.29, for a total transaction of $3,197,456.58. Following the sale, the director now owns 49,962 shares of the company’s stock, valued at approximately $5,360,422.98. The trade was a 37.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph L. Moskowitz sold 1,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $107.63, for a total value of $107,630.00. Following the completion of the transaction, the director now owns 25,393 shares of the company’s stock, valued at $2,733,048.59. The trade was a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

About Aflac

Aflac Incorporated, through its subsidiaries, provides supplemental health and life insurance products. The company operates through Aflac Japan and Aflac U.S. segments. The Aflac Japan segment offers cancer, medical, nursing care, work leave, GIFT, and whole and term life insurance products, as well as WAYS and child endowment plans under saving type insurance products in Japan.