Commonwealth Equity Services LLC Sells 37,040 Shares of Aflac Incorporated $AFL

Commonwealth Equity Services LLC cut its holdings in Aflac Incorporated (NYSE:AFL) by 11.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 286,353 shares of the financial services provider’s stock after selling 37,040 shares during the quarter. Commonwealth Equity Services LLC owned about 0.05% of Aflac worth $31,986,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Gateway Investment Advisers LLC boosted its position in shares of Aflac by 0.4% in the 3rd quarter. Gateway Investment Advisers LLC now owns 375,450 shares of the financial services provider’s stock worth $41,938,000 after purchasing an additional 1,370 shares during the last quarter. Pettinga Financial Advisors LLC bought a new position in Aflac during the third quarter worth about $203,000. Davis Capital Management bought a new position in Aflac during the third quarter worth about $141,000. Noble Family Wealth LLC acquired a new position in shares of Aflac during the 3rd quarter worth about $227,000. Finally, Brave Asset Management Inc. increased its stake in shares of Aflac by 87.4% in the 3rd quarter. Brave Asset Management Inc. now owns 3,859 shares of the financial services provider’s stock valued at $431,000 after acquiring an additional 1,800 shares during the last quarter. Institutional investors own 67.44% of the company’s stock.

Aflac Trading Down 1.5%

Shares of NYSE:AFL opened at $110.23 on Thursday. The firm has a market cap of $57.77 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 3.28 and a beta of 0.67. Aflac Incorporated has a 12 month low of $96.95 and a 12 month high of $115.83. The company’s fifty day simple moving average is $110.52 and its 200 day simple moving average is $107.58. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.30.

Aflac (NYSE:AFL) last released its earnings results on Monday, February 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter. The firm had revenue of $5.91 billion during the quarter. Aflac had a return on equity of 14.97% and a net margin of 23.55%. As a group, research analysts forecast that Aflac Incorporated will post 6.88 EPS for the current fiscal year.

Aflac Increases Dividend

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

Analysts Set New Price Targets

Several research analysts recently weighed in on AFL shares. TD Cowen lifted their price objective on shares of Aflac from $100.00 to $102.00 and gave the stock a “hold” rating in a research note on Monday, December 22nd. Weiss Ratings reissued a “buy (b+)” rating on shares of Aflac in a research report on Monday, December 22nd. Evercore ISI upped their price objective on shares of Aflac from $110.00 to $111.00 and gave the company an “underperform” rating in a research report on Friday, November 7th. Keefe, Bruyette & Woods raised their price objective on Aflac from $108.00 to $110.00 and gave the stock a “market perform” rating in a research note on Thursday, October 9th. Finally, Mizuho initiated coverage on Aflac in a research note on Tuesday, December 16th. They issued an “underperform” rating and a $104.00 target price for the company. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $110.92.

Insider Transactions at Aflac

In related news, EVP Steven Kent Beaver sold 5,492 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $109.53, for a total transaction of $601,538.76. Following the completion of the transaction, the executive vice president owned 38,368 shares in the company, valued at approximately $4,202,447.04. This represents a 12.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Audrey B. Tillman sold 15,862 shares of Aflac stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $112.00, for a total transaction of $1,776,544.00. Following the completion of the sale, the executive vice president owned 230,688 shares in the company, valued at $25,837,056. The trade was a 6.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 31,766 shares of company stock worth $3,549,706. Insiders own 0.90% of the company’s stock.

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.