Elo Mutual Pension Insurance Co Sells 4,598 Shares of Aflac Incorporated (NYSE:AFL)

Elo Mutual Pension Insurance Co cut its stake in shares of Aflac Incorporated (NYSE:AFL) by 9.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,128 shares of the financial services provider’s stock after selling 4,598 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Aflac were worth $4,120,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Y.D. More Investments Ltd bought a new position in shares of Aflac during the 2nd quarter valued at approximately $25,000. Atwood & Palmer Inc. grew its stake in shares of Aflac by 80.0% during the 1st quarter. Atwood & Palmer Inc. now owns 315 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 140 shares during the period. OFI Invest Asset Management bought a new position in shares of Aflac during the 1st quarter valued at approximately $29,000. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Aflac during the 1st quarter valued at approximately $34,000. Finally, Sachetta LLC bought a new position in shares of Aflac during the 4th quarter valued at approximately $35,000. 67.44% of the stock is currently owned by institutional investors.

Insider Activity at Aflac

In related news, Director Thomas J. Kenny sold 2,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $98.94, for a total transaction of $197,880.00. Following the sale, the director now owns 18,158 shares in the company, valued at approximately $1,796,552.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Aflac from $91.00 to $98.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Barclays initiated coverage on Aflac in a research note on Wednesday, September 4th. They issued an “underweight” rating and a $96.00 price target for the company. Piper Sandler upped their price target on Aflac from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, June 28th. JPMorgan Chase & Co. upped their price target on Aflac from $80.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Finally, UBS Group upped their price target on Aflac from $84.00 to $109.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $92.50.

Aflac Stock Down 0.6 %

NYSE AFL opened at $108.95 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.10 and a current ratio of 0.10. The company has a market capitalization of $61.91 billion, a P/E ratio of 12.03, a P/E/G ratio of 2.53 and a beta of 0.95. Aflac Incorporated has a one year low of $74.89 and a one year high of $111.14. The stock has a 50 day moving average price of $102.27 and a 200-day moving average price of $91.57.

Aflac (NYSE:AFL) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.23. Aflac had a return on equity of 16.22% and a net margin of 28.35%. The firm had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the prior year, the company earned $1.58 EPS. The company’s quarterly revenue was down .7% compared to the same quarter last year. As a group, equities analysts predict that Aflac Incorporated will post 6.75 EPS for the current fiscal year.

Aflac Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 2nd. Investors of record on Wednesday, August 21st were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, August 21st. This represents a $2.00 annualized dividend and a yield of 1.84%. Aflac’s payout ratio is presently 22.08%.

About Aflac

Aflac Incorporated, through its subsidiaries, provides supplemental health and life insurance products. The company operates through Aflac Japan and Aflac U.S. segments. 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.