Core Alternative Capital Cuts Stake in Aflac Incorporated $AFL

Core Alternative Capital lowered its stake in shares of Aflac Incorporated (NYSE:AFL) by 16.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,537 shares of the financial services provider’s stock after selling 6,174 shares during the quarter. Core Alternative Capital’s holdings in Aflac were worth $3,411,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC increased its stake in shares of Aflac by 188.5% during the 3rd quarter. True Wealth Design LLC now owns 225 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 147 shares during the last quarter. Mid American Wealth Advisory Group Inc. bought a new position in Aflac during the second quarter valued at $26,000. Chilton Capital Management LLC purchased a new stake in Aflac in the second quarter worth $26,000. Whipplewood Advisors LLC raised its stake in shares of Aflac by 1,526.7% in the second quarter. Whipplewood Advisors LLC now owns 244 shares of the financial services provider’s stock valued at $26,000 after buying an additional 229 shares during the period. Finally, Hilltop National Bank purchased a new position in shares of Aflac during the 2nd quarter valued at $32,000. Institutional investors own 67.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AFL shares. Morgan Stanley set a $120.00 price objective on Aflac in a research note on Monday, December 15th. Evercore ISI lifted their target price on shares of Aflac from $110.00 to $111.00 and gave the stock an “underperform” rating in a research note on Friday, November 7th. Barclays set a $101.00 price target on shares of Aflac and gave the company an “underweight” rating in a research report on Thursday, January 8th. TD Cowen reaffirmed a “hold” rating on shares of Aflac in a report on Monday, December 22nd. Finally, Piper Sandler set a $125.00 price objective on shares of Aflac and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $110.64.

Aflac Price Performance

Shares of NYSE:AFL opened at $108.39 on Wednesday. The company has a 50 day moving average of $109.76 and a 200 day moving average of $108.12. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.30. The stock has a market cap of $56.81 billion, a P/E ratio of 14.15, a P/E/G ratio of 3.22 and a beta of 0.67. Aflac Incorporated has a 12 month low of $96.95 and a 12 month high of $115.83.

Aflac (NYSE:AFL) last announced its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $2.49 EPS for the quarter, beating the consensus estimate of $1.77 by $0.72. The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.36 billion. Aflac had a net margin of 23.55% and a return on equity of 14.97%. The business’s quarterly revenue was up 59.4% compared to the same quarter last year. During the same period last year, the firm earned $2.16 EPS. As a group, sell-side analysts forecast that Aflac Incorporated will post 6.88 EPS for the current fiscal year.

Aflac Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Wednesday, February 18th will be paid a $0.61 dividend. The ex-dividend date is Wednesday, February 18th. This represents a $2.44 dividend on an annualized basis and a yield of 2.3%. This is an increase from Aflac’s previous quarterly dividend of $0.58. Aflac’s dividend payout ratio is currently 30.29%.

Insiders Place Their Bets

In related news, EVP Steven Kent Beaver sold 5,492 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $109.53, for a total value of $601,538.76. Following the sale, the executive vice president directly owned 38,368 shares of the company’s stock, valued at $4,202,447.04. This trade represents a 12.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joseph L. Moskowitz sold 786 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $113.75, for a total transaction of $89,407.50. Following the completion of the transaction, the director directly owned 24,829 shares of the company’s stock, valued at approximately $2,824,298.75. This represents a 3.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 31,766 shares of company stock worth $3,549,706. 0.80% of the stock is currently owned by insiders.

About Aflac

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.