Kingsview Wealth Management LLC Sells 26,219 Shares of Aflac Incorporated $AFL

Kingsview Wealth Management LLC lessened its stake in Aflac Incorporated (NYSE:AFL) by 66.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,024 shares of the financial services provider’s stock after selling 26,219 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Aflac were worth $1,374,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AFL. AG2R LA Mondiale Gestion D Actifs purchased a new stake in Aflac during the first quarter valued at about $2,070,000. Belpointe Asset Management LLC bought a new stake in shares of Aflac in the first quarter valued at approximately $551,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Aflac by 4.8% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 140,874 shares of the financial services provider’s stock valued at $14,857,000 after purchasing an additional 6,400 shares during the period. Assetmark Inc. lifted its stake in shares of Aflac by 8.2% during the 2nd quarter. Assetmark Inc. now owns 1,652,500 shares of the financial services provider’s stock valued at $174,273,000 after buying an additional 124,706 shares in the last quarter. Finally, S&CO Inc. boosted its holdings in Aflac by 1.3% in the 2nd quarter. S&CO Inc. now owns 84,270 shares of the financial services provider’s stock worth $8,887,000 after buying an additional 1,100 shares during the period. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Insider Buying and Selling

In related news, EVP Frederic Jean Guy Simard sold 1,722 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $112.50, for a total value of $193,725.00. Following the transaction, the executive vice president directly owned 1,364 shares in the company, valued at approximately $153,450. This represents a 55.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph L. Moskowitz sold 1,000 shares of Aflac stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $114.00, for a total transaction of $114,000.00. Following the sale, the director owned 23,615 shares of the company’s stock, valued at approximately $2,692,110. The trade was a 4.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 6,960 shares of company stock worth $794,458. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

AFL has been the topic of a number of analyst reports. Piper Sandler set a $125.00 target price on shares of Aflac and gave the company an “overweight” rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. raised their price target on Aflac from $100.00 to $101.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Wells Fargo & Company boosted their price objective on Aflac from $107.00 to $109.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. Keefe, Bruyette & Woods increased their price objective on Aflac from $108.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday, October 9th. Finally, UBS Group cut their target price on Aflac from $114.00 to $111.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $111.00.

Aflac Trading Down 2.2%

Aflac stock opened at $109.33 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.11 and a current ratio of 0.11. Aflac Incorporated has a fifty-two week low of $96.95 and a fifty-two week high of $115.83. The stock has a market cap of $57.30 billion, a P/E ratio of 24.79, a PEG ratio of 2.93 and a beta of 0.83. The firm’s fifty day moving average price is $109.98 and its 200-day moving average price is $106.04.

Aflac (NYSE:AFL) last posted its quarterly earnings data on Monday, February 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter. The company had revenue of $5.91 billion during the quarter. Aflac had a return on equity of 15.08% and a net margin of 15.32%. Equities research analysts forecast 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 stock 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 purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Aflac Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Wednesday, February 18th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Wednesday, February 18th. This is a positive change from Aflac’s previous quarterly dividend of $0.58. This represents a $2.44 annualized dividend and a dividend yield of 2.2%. Aflac’s payout ratio is presently 30.29%.

Aflac Company Profile

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.