Intech Investment Management LLC Sells 117,536 Shares of Aflac Incorporated (NYSE:AFL)

Intech Investment Management LLC trimmed its position in shares of Aflac Incorporated (NYSE:AFL) by 49.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 118,871 shares of the financial services provider’s stock after selling 117,536 shares during the period. Intech Investment Management LLC’s holdings in Aflac were worth $10,616,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of AFL. Forum Financial Management LP boosted its position in shares of Aflac by 1.3% in the second quarter. Forum Financial Management LP now owns 8,337 shares of the financial services provider’s stock valued at $745,000 after acquiring an additional 107 shares during the period. TriaGen Wealth Management LLC grew its position in shares of Aflac by 3.6% during the 2nd quarter. TriaGen Wealth Management LLC now owns 3,377 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 117 shares in the last quarter. Graypoint LLC increased its holdings in shares of Aflac by 2.0% in the second quarter. Graypoint LLC now owns 5,988 shares of the financial services provider’s stock worth $535,000 after purchasing an additional 118 shares during the period. Jaffetilchin Investment Partners LLC raised its position in shares of Aflac by 1.7% in the first quarter. Jaffetilchin Investment Partners LLC now owns 7,254 shares of the financial services provider’s stock worth $623,000 after buying an additional 121 shares in the last quarter. Finally, Burns Matteson Capital Management LLC boosted its stake in Aflac by 4.1% during the second quarter. Burns Matteson Capital Management LLC now owns 3,077 shares of the financial services provider’s stock valued at $275,000 after buying an additional 121 shares during the period. 67.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Aflac

In other Aflac news, Director Thomas J. Kenny sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $98.94, for a total value of $197,880.00. Following the completion of the transaction, the director now directly owns 18,158 shares in the company, valued at approximately $1,796,552.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on AFL. UBS Group raised their price target on Aflac from $84.00 to $109.00 and gave the company a “neutral” rating in a report on Wednesday, August 14th. Jefferies Financial Group dropped their target price on shares of Aflac from $84.00 to $83.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Bank of America boosted their price target on shares of Aflac from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Morgan Stanley raised their price objective on shares of Aflac from $91.00 to $98.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Finally, Truist Financial upped their target price on shares of Aflac from $82.00 to $100.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $92.50.

Aflac Stock Performance

Shares of AFL stock opened at $107.89 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.10 and a current ratio of 0.10. Aflac Incorporated has a fifty-two week low of $74.89 and a fifty-two week high of $111.14. The stock has a 50 day moving average price of $102.88 and a two-hundred day moving average price of $91.88. The company has a market capitalization of $61.31 billion, a P/E ratio of 11.91, a PEG ratio of 2.53 and a beta of 0.95.

Aflac (NYSE:AFL) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.23. The firm had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $4.10 billion. Aflac had a net margin of 28.35% and a return on equity of 16.22%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.58 earnings per share. Analysts expect that Aflac Incorporated will post 6.75 earnings per share for the current year.

Aflac Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 2nd. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, August 21st. This represents a $2.00 annualized dividend and a dividend yield of 1.85%. Aflac’s dividend payout ratio (DPR) is presently 22.08%.

Aflac Profile

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.