Aflac Incorporated (NYSE:AFL) Shares Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its stake in shares of Aflac Incorporated (NYSE:AFL) by 9.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,942 shares of the financial services provider’s stock after acquiring an additional 2,808 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Aflac were worth $2,942,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Atwood & Palmer Inc. increased its position in Aflac by 80.0% during the 1st quarter. Atwood & Palmer Inc. now owns 315 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 140 shares in the last quarter. OFI Invest Asset Management acquired a new stake in Aflac during the 1st quarter worth approximately $29,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Aflac during the 1st quarter worth approximately $34,000. Sachetta LLC acquired a new stake in Aflac during the 4th quarter worth approximately $35,000. Finally, MeadowBrook Investment Advisors LLC acquired a new stake in Aflac during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 67.44% of the company’s stock.

Insider Buying and Selling

In related news, Director Thomas J. Kenny sold 2,000 shares of the firm’s 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 transaction, the director now directly owns 18,158 shares in the company, valued at $1,796,552.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AFL. Morgan Stanley increased their target price on shares of Aflac from $91.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Piper Sandler increased their target price on shares of Aflac from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, June 28th. Jefferies Financial Group lowered their price objective 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. JPMorgan Chase & Co. increased their price objective on shares of Aflac from $80.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Finally, Citigroup increased their price objective on shares of Aflac from $84.00 to $93.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Two research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $91.69.

Aflac Stock Up 0.7 %

Shares of Aflac stock traded up $0.73 on Friday, hitting $110.36. 3,793,535 shares of the company’s stock traded hands, compared to its average volume of 2,221,714. The stock has a market cap of $62.71 billion, a P/E ratio of 12.18, a PEG ratio of 2.76 and a beta of 0.95. The company has a quick ratio of 0.08, a current ratio of 0.10 and a debt-to-equity ratio of 0.29. The firm’s 50-day moving average is $97.12 and its 200 day moving average is $88.83. Aflac Incorporated has a 52-week low of $73.62 and a 52-week high of $110.68.

Aflac (NYSE:AFL) last released its earnings results on Wednesday, July 31st. The financial services provider reported $1.83 EPS for the quarter, beating the consensus estimate of $1.60 by $0.23. Aflac had a return on equity of 16.22% and a net margin of 28.35%. The company had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the prior year, the business posted $1.58 EPS. The business’s revenue was down .7% on a year-over-year basis. Equities analysts anticipate that Aflac Incorporated will post 6.48 earnings per share for the current year.

Aflac Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 2nd. Investors of record on Wednesday, August 21st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.81%. The ex-dividend date is Wednesday, August 21st. Aflac’s dividend payout ratio (DPR) is presently 22.08%.

Aflac Company 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.