Csenge Advisory Group purchased a new stake in shares of Aflac Incorporated (NYSE:AFL – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 16,275 shares of the financial services provider’s stock, valued at approximately $1,908,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP bought a new stake in Aflac in the 4th quarter valued at about $25,000. Groupe la Francaise bought a new position in Aflac during the first quarter worth about $25,000. Whipplewood Advisors LLC bought a new position in Aflac during the first quarter worth about $25,000. Nalls Sherbakoff Group LLC bought a new stake in shares of Aflac in the fourth quarter valued at approximately $29,000. Finally, Evergreen Advisors LLC bought a new stake in shares of Aflac in the first quarter valued at approximately $29,000. Institutional investors own 67.44% of the company’s stock.
Aflac Trading Down 4.3%
Shares of AFL opened at $116.48 on Thursday. The firm’s 50 day simple moving average is $121.59 and its 200 day simple moving average is $116.09. The company has a market capitalization of $58.40 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.96 and a beta of 0.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.12 and a quick ratio of 0.12. Aflac Incorporated has a 1-year low of $104.66 and a 1-year high of $130.22.
Aflac Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Aflac’s payout ratio is currently 26.15%.
Analysts Set New Price Targets
Several research analysts recently commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Aflac from $117.00 to $116.00 and set a “neutral” rating for the company in a report on Tuesday, August 11th. Barclays reaffirmed an “underweight” rating and issued a $99.00 price target (up from $98.00) on shares of Aflac in a report on Friday, August 7th. TD Cowen reissued a “hold” rating and set a $110.00 price objective (up from $101.00) on shares of Aflac in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods raised their target price on Aflac from $120.00 to $125.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 11th. Finally, Morgan Stanley lifted their target price on Aflac from $120.00 to $125.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $116.62.
View Our Latest Report on Aflac
Insider Transactions at Aflac
In related news, major shareholder Post Holdings Co. Ltd. Japan sold 63,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $118.12, for a total value of $7,441,560.00. Following the transaction, the insider owned 51,169,435 shares of the company’s stock, valued at $6,044,133,662.20. This represents a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 507,333 shares of company stock valued at $59,450,256 in the last ninety days. 0.80% of the stock is currently owned by insiders.
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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