Catalyst Funds Management Pty Ltd Boosts Stock Holdings in Aflac Incorporated $AFL

Catalyst Funds Management Pty Ltd grew its stake in shares of Aflac Incorporated (NYSE:AFL) by 168.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,600 shares of the financial services provider’s stock after buying an additional 7,280 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in Aflac were worth $1,223,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen LLC acquired a new position in Aflac in the first quarter valued at $140,746,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Aflac in the 2nd quarter worth about $60,954,000. Sterling Capital Management LLC lifted its stake in shares of Aflac by 146.3% in the 2nd quarter. Sterling Capital Management LLC now owns 772,061 shares of the financial services provider’s stock valued at $81,422,000 after purchasing an additional 458,551 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Aflac by 133.2% during the 1st quarter. Citigroup Inc. now owns 758,424 shares of the financial services provider’s stock worth $84,329,000 after purchasing an additional 433,134 shares during the period. Finally, Guinness Asset Management LTD increased its position in Aflac by 19.4% during the 2nd quarter. Guinness Asset Management LTD now owns 2,372,484 shares of the financial services provider’s stock worth $250,187,000 after purchasing an additional 385,546 shares in the last quarter. 67.44% of the stock is currently owned by institutional investors and hedge funds.

Aflac Stock Performance

NYSE:AFL opened at $109.33 on Thursday. The firm has a 50-day moving average of $109.98 and a two-hundred day moving average of $106.04. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.11 and a quick ratio of 0.11. 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. Aflac Incorporated has a 1-year low of $96.95 and a 1-year high of $115.83.

Aflac (NYSE:AFL) last released its quarterly earnings results on Monday, February 27th. The financial services provider reported $1.07 EPS for the quarter. The business had revenue of $5.91 billion for the quarter. Aflac had a return on equity of 15.08% and a net margin of 15.32%. On average, research analysts expect 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 stock buyback plan on Tuesday, August 12th that permits the company to buyback 100,000,000 outstanding shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Aflac Increases Dividend

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

Insider Buying and Selling

In related news, EVP Audrey B. Tillman sold 3,452 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $115.10, for a total value of $397,325.20. Following the sale, the executive vice president directly owned 230,688 shares of the company’s stock, valued at $26,552,188.80. This represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Frederic Jean Guy Simard sold 1,722 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $112.50, for a total transaction of $193,725.00. Following the transaction, the executive vice president owned 1,364 shares in the company, valued at $153,450. This trade represents a 55.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 6,960 shares of company stock worth $794,458. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

AFL has been the topic of a number of recent research reports. Morgan Stanley lifted their price target on shares of Aflac from $113.00 to $118.00 and gave the company an “equal weight” rating in a research report on Monday. UBS Group cut their target price on shares of Aflac from $114.00 to $111.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Wall Street Zen raised shares of Aflac from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. increased their price target on Aflac from $100.00 to $101.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Finally, Wells Fargo & Company boosted their price objective on Aflac from $107.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Aflac currently has a consensus rating of “Hold” and a consensus target price of $111.00.

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.