HBK Sorce Advisory LLC Reduces Stake in Aflac Incorporated $AFL

HBK Sorce Advisory LLC lessened its holdings in Aflac Incorporated (NYSE:AFL) by 67.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,547 shares of the financial services provider’s stock after selling 15,997 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Aflac were worth $796,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AFL. Mid American Wealth Advisory Group Inc. purchased a new stake in Aflac in the second quarter valued at $26,000. Chilton Capital Management LLC purchased a new stake in shares of Aflac in the second quarter worth about $26,000. Whipplewood Advisors LLC boosted its stake in shares of Aflac by 1,526.7% in the second quarter. Whipplewood Advisors LLC now owns 244 shares of the financial services provider’s stock worth $26,000 after buying an additional 229 shares during the last quarter. AlphaCore Capital LLC acquired a new stake in Aflac during the first quarter worth about $28,000. Finally, Hilltop National Bank purchased a new position in Aflac during the second quarter valued at approximately $32,000. 67.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Joseph L. Moskowitz sold 1,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $102.57, for a total value of $102,570.00. Following the completion of the sale, the director owned 25,105 shares of the company’s stock, valued at approximately $2,575,019.85. This trade represents a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is owned by company insiders.

Aflac Trading Up 1.0%

Shares of AFL opened at $106.78 on Friday. Aflac Incorporated has a 52-week low of $96.95 and a 52-week high of $115.43. The stock has a market cap of $57.11 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. The firm’s fifty day moving average is $108.63 and its two-hundred day moving average is $105.62. 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 (NYSE:AFL) last issued its earnings results on Monday, February 27th. The financial services provider reported $1.07 EPS for the quarter. Aflac had a net margin of 15.32% and a return on equity of 15.08%. The business had revenue of $5.91 billion during the quarter. Research analysts forecast that Aflac Incorporated will post 6.88 earnings per share for the current fiscal year.

Aflac announced that its Board of Directors has initiated a share repurchase program on Tuesday, August 12th that authorizes the company to repurchase 100,000,000 shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Aflac Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Wednesday, August 20th. Aflac’s payout ratio is currently 52.61%.

Analyst Ratings Changes

Several equities research analysts have commented on AFL shares. Barclays restated an “underweight” rating and issued a $102.00 price objective (up previously from $100.00) on shares of Aflac in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Aflac from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. raised their target price on Aflac from $96.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Morgan Stanley upped their price target on Aflac from $108.00 to $113.00 and gave the stock an “equal weight” rating in a report on Monday, August 18th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Aflac from $108.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday, October 9th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.