Teachers Retirement System of The State of Kentucky cut its stake in Aflac Incorporated (NYSE:AFL – Get Rating) by 4.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,616 shares of the financial services provider’s stock after selling 1,898 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Aflac were worth $2,808,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Aflac by 6.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 149,238 shares of the financial services provider’s stock valued at $9,609,000 after purchasing an additional 8,665 shares during the period. CFS Investment Advisory Services LLC increased its position in Aflac by 6,290.9% during the first quarter. CFS Investment Advisory Services LLC now owns 2,291,341 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 2,255,488 shares during the period. Gradient Investments LLC increased its position in Aflac by 4.7% during the first quarter. Gradient Investments LLC now owns 13,916 shares of the financial services provider’s stock worth $896,000 after acquiring an additional 624 shares during the period. M Holdings Securities Inc. bought a new position in Aflac during the first quarter worth about $264,000. Finally, Advisory Services Network LLC increased its position in Aflac by 43.0% during the first quarter. Advisory Services Network LLC now owns 41,304 shares of the financial services provider’s stock worth $2,659,000 after acquiring an additional 12,426 shares during the period. 66.32% of the stock is owned by institutional investors.
Aflac Stock Up 1.5 %
NYSE:AFL opened at $60.37 on Tuesday. The firm’s 50 day simple moving average is $59.30 and its 200 day simple moving average is $59.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.07 and a quick ratio of 0.07. Aflac Incorporated has a one year low of $51.28 and a one year high of $67.20. The company has a market cap of $38.15 billion, a PE ratio of 9.11, a P/E/G ratio of 2.22 and a beta of 0.91.
Aflac Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Wednesday, August 24th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, August 23rd. This represents a $1.60 annualized dividend and a yield of 2.65%. Aflac’s payout ratio is 24.13%.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on AFL shares. Piper Sandler lowered their price target on shares of Aflac from $68.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, July 8th. Evercore ISI decreased their target price on shares of Aflac from $60.00 to $59.00 and set an “in-line” rating on the stock in a report on Wednesday, July 6th. JPMorgan Chase & Co. raised their target price on shares of Aflac from $61.00 to $62.00 in a report on Monday, July 11th. Citigroup began coverage on shares of Aflac in a report on Monday, May 23rd. They issued a “neutral” rating and a $60.00 target price on the stock. Finally, Morgan Stanley raised their target price on shares of Aflac from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, August 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $62.17.
Insiders Place Their Bets
In other Aflac news, CFO James Todd Daniels sold 16,946 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $64.03, for a total transaction of $1,085,052.38. Following the completion of the transaction, the chief financial officer now owns 53,025 shares in the company, valued at approximately $3,395,190.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Aflac news, Director Barbara K. Rimer sold 11,026 shares of Aflac stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $58.49, for a total transaction of $644,910.74. Following the transaction, the director now directly owns 33,413 shares of the company’s stock, valued at approximately $1,954,326.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James Todd Daniels sold 16,946 shares of Aflac stock in a transaction on Monday, August 15th. The stock was sold at an average price of $64.03, for a total transaction of $1,085,052.38. Following the transaction, the chief financial officer now directly owns 53,025 shares in the company, valued at $3,395,190.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,272 shares of company stock worth $2,338,959. 1.10% of the stock is currently owned by insiders.
Aflac Company Profile
Aflac Incorporated, through its subsidiaries, provides supplemental health and life insurance products. It operates through two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers cancer, medical, nursing care income support, 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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