NewCorp Financial Services Inc. Invests $719,000 in Aflac Incorporated $AFL

NewCorp Financial Services Inc. bought a new position in shares of Aflac Incorporated (NYSE:AFLFree Report) during the fourth quarter, Holdings Channel.com reports. The firm bought 6,518 shares of the financial services provider’s stock, valued at approximately $719,000. Aflac accounts for approximately 0.6% of NewCorp Financial Services Inc.’s holdings, making the stock its 22nd largest holding.

Other large investors also recently modified their holdings of the company. Navalign LLC acquired a new position in shares of Aflac during the fourth quarter worth approximately $32,000. Darwin Wealth Management LLC acquired a new position in shares of Aflac during the second quarter worth approximately $33,000. Activest Wealth Management lifted its holdings in Aflac by 95.6% in the fourth quarter. Activest Wealth Management now owns 311 shares of the financial services provider’s stock valued at $34,000 after buying an additional 152 shares during the period. Westside Investment Management Inc. lifted its holdings in Aflac by 100.0% in the third quarter. Westside Investment Management Inc. now owns 324 shares of the financial services provider’s stock valued at $36,000 after buying an additional 162 shares during the period. Finally, Park Square Financial Group LLC lifted its holdings in Aflac by 80.6% in the fourth quarter. Park Square Financial Group LLC now owns 354 shares of the financial services provider’s stock valued at $37,000 after buying an additional 158 shares during the period. 67.44% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Aflac

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Aflac Stock Down 0.0%

Shares of NYSE:AFL opened at $112.37 on Monday. Aflac Incorporated has a 52 week low of $96.95 and a 52 week high of $119.81. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.11 and a current ratio of 0.11. The company has a market capitalization of $57.20 billion, a PE ratio of 12.76, a PEG ratio of 1.97 and a beta of 0.61. The company has a 50 day moving average price of $113.08 and a two-hundred day moving average price of $111.77.

Aflac (NYSE:AFLGet Free Report) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $1.75 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.05). Aflac had a net margin of 25.60% and a return on equity of 13.88%. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same period in the previous year, the company posted $1.66 EPS. The firm’s revenue for the quarter was up 27.9% on a year-over-year basis. Analysts forecast that Aflac Incorporated will post 7.08 earnings per share for the current year.

Aflac Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Wednesday, May 20th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, May 20th. Aflac’s dividend payout ratio is presently 27.70%.

Insider Buying and Selling at Aflac

In other Aflac news, major shareholder Post Holdings Co. Ltd. Japan sold 11,400 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $115.50, for a total value of $1,316,700.00. Following the completion of the sale, the insider owned 51,302,145 shares of the company’s stock, valued at approximately $5,925,397,747.50. This represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Steven Kent Beaver sold 5,508 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $117.81, for a total transaction of $648,897.48. Following the completion of the sale, the executive vice president directly owned 40,537 shares of the company’s stock, valued at $4,775,663.97. The trade was a 11.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 910,436 shares of company stock valued at $103,126,371. Corporate insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AFL shares. Piper Sandler restated 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. Evercore upgraded shares of Aflac from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, April 9th. UBS Group cut their price objective on shares of Aflac from $116.00 to $114.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Morgan Stanley increased their price objective on shares of Aflac from $120.00 to $125.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. Finally, Wall Street Zen upgraded shares of Aflac from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $112.27.

View Our Latest Analysis on Aflac

Aflac Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Aflac (NYSE:AFL)

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