Aflac Incorporated $AFL Shares Sold by Eastern Bank

Eastern Bank cut its stake in Aflac Incorporated (NYSE:AFL) by 19.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,080 shares of the financial services provider’s stock after selling 2,000 shares during the period. Eastern Bank’s holdings in Aflac were worth $852,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. AlphaCore Capital LLC acquired a new stake in Aflac in the first quarter valued at $28,000. Hilltop National Bank bought a new stake in Aflac during the second quarter valued at $32,000. Golden State Wealth Management LLC increased its stake in Aflac by 121.9% during the first quarter. Golden State Wealth Management LLC now owns 304 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 167 shares during the last quarter. Groupe la Francaise bought a new stake in Aflac during the first quarter valued at $34,000. Finally, Garde Capital Inc. bought a new stake in Aflac during the first quarter valued at $36,000. 67.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Aflac

In related news, Director Joseph L. Moskowitz sold 1,000 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $102.57, for a total value of $102,570.00. Following the completion of the transaction, the director owned 25,105 shares in the company, valued at $2,575,019.85. This represents a 3.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.90% of the stock is owned by corporate insiders.

Aflac Stock Performance

Shares of AFL opened at $110.78 on Friday. The firm has a 50-day moving average price of $107.55 and a 200 day moving average price of $105.48. The firm has a market capitalization of $59.25 billion, a PE ratio of 25.12, a P/E/G ratio of 3.08 and a beta of 0.86. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.33. Aflac Incorporated has a 52-week low of $96.95 and a 52-week high of $115.44.

Aflac (NYSE:AFL) last announced its earnings results on Monday, February 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter. The firm had revenue of $5.91 billion during the quarter. Aflac had a net margin of 15.32% and a return on equity of 15.08%. On average, sell-side analysts anticipate that Aflac Incorporated will post 6.88 earnings per share for the current fiscal year.

Aflac declared that its Board of Directors has initiated a share buyback plan on Tuesday, August 12th that authorizes the company to repurchase 100,000,000 shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Aflac Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th were given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Wednesday, August 20th. Aflac’s dividend payout ratio is currently 52.61%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Wall Street Zen upgraded shares of Aflac from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Aflac in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Aflac from $96.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Wells Fargo & Company boosted their target price on shares of Aflac from $105.00 to $107.00 and gave the company an “equal weight” rating in a research note on Monday, August 11th. Finally, Evercore ISI set a $110.00 target price on shares of Aflac and gave the company an “underperform” rating in a research note on Thursday. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $109.45.

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.