Eric M. Kirsch Sells 28,400 Shares of Aflac Incorporated (NYSE:AFL) Stock

Aflac Incorporated (NYSE:AFLGet Rating) EVP Eric M. Kirsch sold 28,400 shares of the stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $70.90, for a total value of $2,013,560.00. Following the sale, the executive vice president now directly owns 35,721 shares of the company’s stock, valued at approximately $2,532,618.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Aflac Price Performance

AFL opened at $70.94 on Friday. The stock has a fifty day simple moving average of $62.19 and a two-hundred day simple moving average of $59.38. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.31. The company has a market cap of $44.11 billion, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 2.66 and a beta of 0.93. Aflac Incorporated has a 12-month low of $52.07 and a 12-month high of $71.93.

Aflac (NYSE:AFLGet Rating) last posted its quarterly earnings data on Tuesday, November 1st. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.07). The firm had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.58 billion. Aflac had a return on equity of 12.53% and a net margin of 24.16%. Aflac’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.53 EPS. Research analysts predict that Aflac Incorporated will post 5.31 earnings per share for the current fiscal year.

Aflac declared that its board has initiated a share repurchase program on Tuesday, November 8th that permits the company to repurchase 100,000,000 shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Aflac Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Wednesday, February 15th will be issued a $0.42 dividend. This is an increase from Aflac’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, February 14th. This represents a $1.68 dividend on an annualized basis and a yield of 2.37%. Aflac’s dividend payout ratio is 20.41%.

Institutional Investors Weigh In On Aflac

A number of institutional investors have recently modified their holdings of the stock. Power Corp of Canada grew its stake in shares of Aflac by 9.6% in the third quarter. Power Corp of Canada now owns 100,561 shares of the financial services provider’s stock worth $5,652,000 after acquiring an additional 8,831 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Aflac in the third quarter worth $204,000. National Pension Service grew its stake in shares of Aflac by 2.7% in the third quarter. National Pension Service now owns 1,190,697 shares of the financial services provider’s stock worth $67,370,000 after acquiring an additional 30,827 shares during the last quarter. M&T Bank Corp grew its stake in shares of Aflac by 28.5% in the third quarter. M&T Bank Corp now owns 111,517 shares of the financial services provider’s stock worth $6,267,000 after acquiring an additional 24,721 shares during the last quarter. Finally, Liberty One Investment Management LLC grew its stake in shares of Aflac by 4.9% in the third quarter. Liberty One Investment Management LLC now owns 36,387 shares of the financial services provider’s stock worth $2,045,000 after acquiring an additional 1,704 shares during the last quarter. 66.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AFL has been the subject of a number of analyst reports. Evercore ISI set a $66.00 price objective on Aflac in a research note on Thursday. Morgan Stanley increased their price objective on Aflac from $69.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday. Raymond James increased their price objective on Aflac from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, October 31st. StockNews.com initiated coverage on Aflac in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Piper Sandler increased their price objective on Aflac from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $65.58.

Aflac Company Profile

(Get Rating)

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.

Featured Articles

Insider Buying and Selling by Quarter for Aflac (NYSE:AFL)

Receive News & Ratings for Aflac Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aflac and related companies with MarketBeat.com's FREE daily email newsletter.