Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of Aflac Incorporated (NYSE:AFL – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 45,742 shares of the financial services provider’s stock, valued at approximately $5,363,000. Aflac makes up approximately 1.1% of Kelly Lawrence W & Associates Inc. CA’s holdings, making the stock its 25th largest position.
A number of other hedge funds also recently bought and sold shares of AFL. Whipplewood Advisors LLC purchased a new stake in Aflac during the 1st quarter valued at about $25,000. Groupe la Francaise purchased a new position in Aflac in the first quarter worth about $25,000. Quarry LP bought a new position in shares of Aflac in the fourth quarter worth approximately $25,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of Aflac in the second quarter worth approximately $27,000. Finally, Nalls Sherbakoff Group LLC purchased a new stake in shares of Aflac during the fourth quarter valued at approximately $29,000. Institutional investors own 67.44% of the company’s stock.
Aflac Trading Up 1.8%
Shares of Aflac stock opened at $118.19 on Tuesday. The stock has a market capitalization of $59.25 billion, a PE ratio of 12.67, a P/E/G ratio of 1.87 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. The company’s fifty day simple moving average is $121.58 and its 200-day simple moving average is $116.19. Aflac Incorporated has a 1-year low of $104.66 and a 1-year high of $130.22.
Aflac Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be paid a dividend of $0.61 per share. The ex-dividend date is Wednesday, August 19th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.1%. Aflac’s payout ratio is 26.15%.
Insider Buying and Selling at Aflac
In related news, major shareholder Post Holdings Co. Ltd. Japan sold 63,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $118.12, for a total transaction of $7,441,560.00. Following the completion of the sale, the insider owned 51,169,435 shares in the company, valued at approximately $6,044,133,662.20. This trade represents a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 492,725 shares of company stock valued at $57,777,403 over the last three months. Corporate insiders own 0.80% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on AFL shares. Wolfe Research started coverage on shares of Aflac in a research report on Wednesday, August 19th. They set an “underperform” rating and a $103.00 price target for the company. Barclays reissued an “underweight” rating and issued a $99.00 target price (up from $98.00) on shares of Aflac in a report on Friday, August 7th. UBS Group reaffirmed a “neutral” rating and set a $124.00 price objective (up from $114.00) on shares of Aflac in a research report on Wednesday, July 8th. JPMorgan Chase & Co. reduced their price objective on Aflac from $117.00 to $116.00 and set a “neutral” rating for the company in a report on Tuesday, August 11th. Finally, Piper Sandler restated an “overweight” rating and set a $138.00 target price (up from $130.00) on shares of Aflac in a research note on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Aflac has a consensus rating of “Hold” and an average target price of $116.62.
Aflac Company 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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