Brookstone Capital Management Cuts Position in Aflac Incorporated (NYSE:AFL)

Brookstone Capital Management trimmed its position in shares of Aflac Incorporated (NYSE:AFLGet Rating) by 15.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,551 shares of the financial services provider’s stock after selling 2,607 shares during the period. Brookstone Capital Management’s holdings in Aflac were worth $818,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its stake in shares of Aflac by 120.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 403 shares of the financial services provider’s stock worth $26,000 after buying an additional 220 shares during the period. Rather & Kittrell Inc. purchased a new position in Aflac in the fourth quarter valued at approximately $27,000. Independence Bank of Kentucky increased its stake in Aflac by 96.8% in the first quarter. Independence Bank of Kentucky now owns 492 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 242 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in Aflac in the first quarter valued at approximately $37,000. Finally, Rise Advisors LLC increased its stake in Aflac by 74.7% in the first quarter. Rise Advisors LLC now owns 573 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 245 shares during the last quarter. 66.32% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Aflac news, insider Teresa L. White sold 10,000 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $59.24, for a total value of $592,400.00. Following the completion of the transaction, the insider now owns 134,256 shares in the company, valued at $7,953,325.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Aflac news, Director Barbara K. Rimer sold 11,026 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $58.49, for a total value of $644,910.74. Following the completion of the transaction, the director now owns 33,413 shares in the company, valued at $1,954,326.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Teresa L. White sold 10,000 shares of Aflac stock in a transaction on Friday, August 5th. The stock was sold at an average price of $59.24, for a total value of $592,400.00. Following the transaction, the insider now directly owns 134,256 shares of the company’s stock, valued at approximately $7,953,325.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,272 shares of company stock worth $2,338,959. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AFL. Piper Sandler dropped their price target on shares of Aflac from $68.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, July 8th. Evercore ISI dropped their price target on shares of Aflac from $60.00 to $59.00 and set an “in-line” rating on the stock in a research note on Wednesday, July 6th. Morgan Stanley increased their price target on shares of Aflac from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, August 17th. Finally, JPMorgan Chase & Co. increased their price objective on Aflac from $61.00 to $62.00 in a report on Monday, July 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $62.17.

Aflac Price Performance

Shares of NYSE AFL opened at $58.67 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.07 and a quick ratio of 0.07. The stock has a fifty day moving average price of $59.69 and a 200 day moving average price of $59.54. Aflac Incorporated has a 1-year low of $52.04 and a 1-year high of $67.20. The company has a market cap of $37.07 billion, a PE ratio of 8.85, a P/E/G ratio of 2.25 and a beta of 0.91.

Aflac (NYSE:AFLGet Rating) last issued its quarterly earnings results on Monday, August 1st. The financial services provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.27. Aflac had a return on equity of 12.40% and a net margin of 20.37%. The firm had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $4.79 billion. During the same period last year, the company earned $1.59 earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. Sell-side analysts forecast that Aflac Incorporated will post 5.37 EPS for the current year.

Aflac Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Wednesday, August 24th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Tuesday, August 23rd. Aflac’s payout ratio is 24.13%.

About Aflac

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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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Institutional Ownership by Quarter for Aflac (NYSE:AFL)

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