Family Manage LLC reduced its stake in Aflac Incorporated (NYSE:AFL – Free Report) by 94.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,883 shares of the financial services provider’s stock after selling 30,074 shares during the period. Family Manage LLC’s holdings in Aflac were worth $207,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in AFL. DNB Asset Management AS boosted its holdings in Aflac by 51.3% in the 4th quarter. DNB Asset Management AS now owns 168,003 shares of the financial services provider’s stock worth $18,526,000 after acquiring an additional 56,975 shares during the period. BIP Wealth LLC raised its stake in shares of Aflac by 348.3% during the fourth quarter. BIP Wealth LLC now owns 55,723 shares of the financial services provider’s stock valued at $6,145,000 after purchasing an additional 43,293 shares during the period. Employees Retirement System of Texas purchased a new stake in shares of Aflac during the fourth quarter valued at approximately $3,743,000. Dorato Capital Management acquired a new position in shares of Aflac during the fourth quarter worth $20,865,000. Finally, Atlas Wealth LLC acquired a new position in shares of Aflac during the first quarter worth $1,802,000. 67.44% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
AFL has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of Aflac from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday. Mizuho set a $112.00 price target on shares of Aflac in a research note on Thursday, July 9th. Piper Sandler reiterated an “overweight” rating and issued a $130.00 price objective (up from $125.00) on shares of Aflac in a report on Tuesday, May 26th. Barclays decreased their price objective on shares of Aflac from $99.00 to $98.00 and set an “underweight” rating for the company in a research report on Tuesday, July 7th. Finally, UBS Group restated a “neutral” rating and set a $124.00 target price (up from $114.00) on shares of Aflac in a research note on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $116.17.
Aflac Stock Performance
Shares of AFL opened at $126.61 on Tuesday. The firm has a market cap of $64.44 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 1.94 and a beta of 0.61. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.26. The business’s 50 day moving average is $118.80 and its two-hundred day moving average is $114.31. Aflac Incorporated has a 52-week low of $96.95 and a 52-week high of $126.87.
Aflac (NYSE:AFL – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $1.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.05). The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.20 billion. Aflac had a return on equity of 13.88% and a net margin of 25.60%.The firm’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.66 EPS. Analysts forecast that Aflac Incorporated will post 7.06 EPS for the current fiscal year.
Insider Buying and Selling
In other Aflac news, major shareholder Post Holdings Co. Ltd. Japan sold 63,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $118.12, for a total transaction of $7,441,560.00. Following the completion of the transaction, the insider directly owned 51,169,435 shares of the company’s stock, valued at $6,044,133,662.20. This trade represents a 0.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 744,916 shares of company stock worth $87,118,632. Corporate insiders own 0.80% of the company’s stock.
Aflac Profile
Aflac Incorporated (American Family Life Assurance Company of Columbus) is a provider of supplemental insurance products designed to help policyholders manage out-of-pocket health care and living expenses. The company underwrites a range of individual and group policies that typically pay cash benefits directly to insureds when covered events occur, enabling greater financial flexibility for medical treatment, hospital stays, critical illness, and related costs. Aflac’s product mix includes supplemental health insurance, life insurance and other specialty coverages intended to complement primary medical plans.
Founded in the mid-20th century and headquartered in Columbus, Georgia, Aflac distributes its products through a combination of employer-sponsored programs, independent brokers and agents, and direct marketing.
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