Conning Inc. Sells 22,547 Shares of Aflac Incorporated $AFL

Conning Inc. trimmed its position in Aflac Incorporated (NYSE:AFL) by 6.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 311,300 shares of the financial services provider’s stock after selling 22,547 shares during the period. Aflac makes up approximately 1.2% of Conning Inc.’s investment portfolio, making the stock its 21st largest holding. Conning Inc. owned 0.06% of Aflac worth $34,772,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in Aflac in the 2nd quarter valued at approximately $432,201,000. Invesco Ltd. raised its holdings in shares of Aflac by 16.7% in the second quarter. Invesco Ltd. now owns 4,167,886 shares of the financial services provider’s stock valued at $439,545,000 after purchasing an additional 594,971 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Aflac in the second quarter worth $60,954,000. Marshall Wace LLP boosted its holdings in Aflac by 459.0% during the second quarter. Marshall Wace LLP now owns 701,390 shares of the financial services provider’s stock worth $73,969,000 after purchasing an additional 575,915 shares during the last quarter. Finally, Sterling Capital Management LLC grew its position in Aflac by 146.3% in the second quarter. Sterling Capital Management LLC now owns 772,061 shares of the financial services provider’s stock valued at $81,422,000 after purchasing an additional 458,551 shares in the last quarter. 67.44% of the stock is currently owned by institutional investors.

Aflac Stock Performance

AFL opened at $110.09 on Thursday. 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 Incorporated has a 12-month low of $96.95 and a 12-month high of $115.83. The business has a 50 day moving average of $110.63 and a 200-day moving average of $107.76. The stock has a market cap of $57.70 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 3.17 and a beta of 0.67.

Aflac (NYSE:AFL) last posted its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.72. Aflac had a return on equity of 14.97% and a net margin of 23.55%.The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter in the prior year, the business earned $2.16 EPS. The firm’s revenue for the quarter was up 59.4% on a year-over-year basis. On average, equities research analysts expect that Aflac Incorporated will post 6.88 earnings per share for the current year.

Aflac Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Wednesday, February 18th will be paid a dividend of $0.61 per share. The ex-dividend date is Wednesday, February 18th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from Aflac’s previous quarterly dividend of $0.58. Aflac’s dividend payout ratio is 31.85%.

Insider Activity at Aflac

In related news, EVP Audrey B. Tillman sold 15,862 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $112.00, for a total value of $1,776,544.00. Following the transaction, the executive vice president owned 230,688 shares in the company, valued at approximately $25,837,056. This represents a 6.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Frederic Jean Guy Simard sold 1,722 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $112.50, for a total transaction of $193,725.00. Following the completion of the transaction, the executive vice president directly owned 1,364 shares in the company, valued at approximately $153,450. This represents a 55.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 31,766 shares of company stock worth $3,549,706. 0.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on AFL. Weiss Ratings reissued a “buy (b+)” rating on shares of Aflac in a research report on Monday, December 22nd. TD Cowen upped their target price on Aflac from $100.00 to $102.00 and gave the stock a “hold” rating in a report on Monday, December 22nd. Keefe, Bruyette & Woods raised their price target on Aflac from $108.00 to $110.00 and gave the company a “market perform” rating in a research note on Thursday, October 9th. Piper Sandler set a $125.00 price target on Aflac and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Finally, Mizuho initiated coverage on Aflac in a report on Tuesday, December 16th. They issued an “underperform” rating and a $104.00 price objective for the company. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $110.67.

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.