1832 Asset Management L.P. Boosts Stake in Aflac Incorporated (NYSE:AFL)

1832 Asset Management L.P. lifted its holdings in shares of Aflac Incorporated (NYSE:AFLFree Report) by 5.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,530 shares of the financial services provider’s stock after acquiring an additional 1,874 shares during the quarter. 1832 Asset Management L.P.’s holdings in Aflac were worth $3,179,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crossmark Global Holdings Inc. grew its position in Aflac by 22.6% during the fourth quarter. Crossmark Global Holdings Inc. now owns 86,010 shares of the financial services provider’s stock valued at $7,096,000 after buying an additional 15,855 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Aflac by 306.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 75,739 shares of the financial services provider’s stock valued at $6,248,000 after acquiring an additional 57,104 shares during the period. Lake Street Advisors Group LLC bought a new stake in shares of Aflac in the 4th quarter worth approximately $325,000. Southeast Asset Advisors Inc. raised its holdings in shares of Aflac by 0.4% in the 4th quarter. Southeast Asset Advisors Inc. now owns 139,164 shares of the financial services provider’s stock worth $11,481,000 after purchasing an additional 589 shares during the period. Finally, Copperwynd Financial LLC grew its holdings in Aflac by 6.1% during the fourth quarter. Copperwynd Financial LLC now owns 3,149 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 180 shares during the period. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Insider Activity at Aflac

In other Aflac news, SVP Albert Riggieri sold 8,000 shares of Aflac stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $83.34, for a total transaction of $666,720.00. Following the sale, the senior vice president now directly owns 32,825 shares of the company’s stock, valued at approximately $2,735,635.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Aflac news, Director Charles D. Lake II sold 22,378 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $87.47, for a total value of $1,957,403.66. Following the sale, the director now owns 61,522 shares in the company, valued at $5,381,329.34. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Albert Riggieri sold 8,000 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $83.34, for a total value of $666,720.00. Following the completion of the sale, the senior vice president now directly owns 32,825 shares in the company, valued at $2,735,635.50. The disclosure for this sale can be found here. Insiders have sold 35,978 shares of company stock worth $3,098,128 over the last 90 days. 0.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AFL shares. Keefe, Bruyette & Woods boosted their target price on Aflac from $83.00 to $87.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Piper Sandler upped their price objective on shares of Aflac from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, April 5th. StockNews.com upgraded shares of Aflac from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Morgan Stanley raised their price objective on shares of Aflac from $80.00 to $84.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, Wells Fargo & Company boosted their target price on shares of Aflac from $81.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Aflac has a consensus rating of “Hold” and a consensus price target of $82.38.

Check Out Our Latest Analysis on Aflac

Aflac Price Performance

Shares of Aflac stock opened at $88.79 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.08 and a quick ratio of 0.08. Aflac Incorporated has a one year low of $66.58 and a one year high of $89.91. The business’s 50 day simple moving average is $85.22 and its two-hundred day simple moving average is $83.16. The stock has a market capitalization of $50.45 billion, a P/E ratio of 9.80, a price-to-earnings-growth ratio of 2.18 and a beta of 0.96.

Aflac (NYSE:AFLGet Free Report) last posted its quarterly earnings results on Monday, May 6th. The financial services provider reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Aflac had a net margin of 27.67% and a return on equity of 16.88%. The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same period in the prior year, the business posted $1.55 EPS. The firm’s revenue was up 13.3% compared to the same quarter last year. Analysts forecast that Aflac Incorporated will post 6.46 EPS for the current year.

Aflac Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 22nd were paid a dividend of $0.50 per share. This is a positive change from Aflac’s previous quarterly dividend of $0.42. The ex-dividend date was Tuesday, May 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.25%. Aflac’s payout ratio is presently 22.08%.

About Aflac

(Free Report)

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.

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Institutional Ownership by Quarter for Aflac (NYSE:AFL)

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