Nordea Investment Management AB lifted its stake in shares of Aflac Incorporated (NYSE:AFL – Free Report) by 111.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,543,379 shares of the financial services provider’s stock after buying an additional 814,830 shares during the period. Nordea Investment Management AB owned approximately 0.26% of Aflac worth $107,404,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in AFL. Panagora Asset Management Inc. raised its holdings in shares of Aflac by 36.2% during the first quarter. Panagora Asset Management Inc. now owns 23,941 shares of the financial services provider’s stock worth $1,542,000 after purchasing an additional 6,369 shares during the last quarter. Blair William & Co. IL increased its holdings in Aflac by 6.8% in the first quarter. Blair William & Co. IL now owns 17,268 shares of the financial services provider’s stock valued at $1,112,000 after buying an additional 1,102 shares in the last quarter. Aviva PLC increased its holdings in Aflac by 0.7% in the first quarter. Aviva PLC now owns 210,634 shares of the financial services provider’s stock valued at $13,563,000 after buying an additional 1,503 shares in the last quarter. Dakota Wealth Management purchased a new position in Aflac in the first quarter valued at $428,000. Finally, Sequoia Financial Advisors LLC increased its holdings in Aflac by 7.3% in the first quarter. Sequoia Financial Advisors LLC now owns 6,142 shares of the financial services provider’s stock valued at $396,000 after buying an additional 417 shares in the last quarter. 66.75% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have weighed in on AFL. Citigroup lifted their price objective on shares of Aflac from $69.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, August 9th. Morgan Stanley lowered shares of Aflac from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $74.00 to $75.00 in a research report on Friday, August 18th. 58.com reiterated a “reiterates” rating on shares of Aflac in a research report on Friday, June 9th. Truist Financial lifted their target price on shares of Aflac from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Thursday, August 3rd. Finally, Bank of America lifted their target price on shares of Aflac from $79.00 to $86.00 in a research report on Wednesday, August 2nd. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Aflac has a consensus rating of “Hold” and an average price target of $75.82.
Insider Buying and Selling at Aflac
In other Aflac news, insider Virgil Raynard Miller sold 2,626 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $77.08, for a total value of $202,412.08. Following the transaction, the insider now directly owns 2,181 shares in the company, valued at approximately $168,111.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Virgil Raynard Miller sold 2,626 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $77.08, for a total value of $202,412.08. Following the sale, the insider now directly owns 2,181 shares of the company’s stock, valued at approximately $168,111.48. 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 3,355 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $74.51, for a total transaction of $249,981.05. Following the completion of the sale, the chief financial officer now directly owns 60,274 shares in the company, valued at $4,491,015.74. The disclosure for this sale can be found here. Insiders have sold 30,170 shares of company stock worth $2,286,000 in the last ninety days. 0.90% of the stock is owned by insiders.
Aflac Stock Performance
AFL opened at $76.51 on Friday. The firm has a market capitalization of $45.45 billion, a PE ratio of 10.23, a PEG ratio of 2.33 and a beta of 0.93. Aflac Incorporated has a twelve month low of $56.03 and a twelve month high of $78.43. The firm’s 50-day moving average price is $73.94 and its 200 day moving average price is $69.04. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.35.
Aflac (NYSE:AFL – Get Free Report) last posted its earnings results on Tuesday, August 1st. The financial services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.16. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $4.52 billion. Aflac had a net margin of 24.48% and a return on equity of 16.10%. As a group, sell-side analysts expect that Aflac Incorporated will post 5.98 EPS for the current fiscal year.
Aflac Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Wednesday, August 23rd were issued a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $1.68 annualized dividend and a yield of 2.20%. Aflac’s payout ratio is 22.46%.
Aflac Incorporated, through its subsidiaries, provides supplemental health and life insurance products. It operates in two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers cancer, medical, nursing care, work leave, 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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