Moran Wealth Management LLC Sells 5,921 Shares of Aflac Incorporated $AFL

Moran Wealth Management LLC reduced its position in Aflac Incorporated (NYSE:AFL) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 236,432 shares of the financial services provider’s stock after selling 5,921 shares during the period. Aflac accounts for about 0.8% of Moran Wealth Management LLC’s investment portfolio, making the stock its 26th biggest position. Moran Wealth Management LLC’s holdings in Aflac were worth $24,934,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. AlphaCore Capital LLC bought a new stake in Aflac in the 1st quarter worth approximately $28,000. Hilltop National Bank purchased a new position in shares of Aflac in the second quarter valued at $32,000. Golden State Wealth Management LLC grew its holdings in shares of Aflac by 121.9% in the first quarter. Golden State Wealth Management LLC now owns 304 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 167 shares in the last quarter. Groupe la Francaise bought a new position in Aflac during the first quarter valued at $34,000. Finally, Garde Capital Inc. bought a new position in Aflac during the first quarter valued at $36,000. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Aflac from $108.00 to $113.00 and gave the company an “equal weight” rating in a research report on Monday, August 18th. Wells Fargo & Company boosted their price objective on Aflac from $105.00 to $107.00 and gave the stock an “equal weight” rating in a research note on Monday, August 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of Aflac in a research note on Wednesday, October 8th. Wall Street Zen raised Aflac from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Keefe, Bruyette & Woods lifted their target price on Aflac from $108.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday, October 9th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Aflac has an average rating of “Hold” and a consensus target price of $109.45.

Aflac Stock Performance

Shares of NYSE:AFL opened at $110.21 on Tuesday. Aflac Incorporated has a 12 month low of $96.95 and a 12 month high of $115.44. The firm’s 50-day moving average is $107.78 and its 200 day moving average is $105.45. The company has a market capitalization of $58.94 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 3.08 and a beta of 0.86. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.33.

Aflac (NYSE:AFL) last announced its earnings results on Monday, February 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter. Aflac had a return on equity of 15.08% and a net margin of 15.32%.The business had revenue of $5.91 billion during the quarter. Research analysts predict that Aflac Incorporated will post 6.88 EPS for the current year.

Aflac Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th were paid a $0.58 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $2.32 dividend on an annualized basis and a yield of 2.1%. Aflac’s dividend payout ratio (DPR) is presently 52.61%.

Aflac announced that its Board of Directors has authorized a share repurchase plan on Tuesday, August 12th that authorizes the company to buyback 100,000,000 shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Aflac news, Director Joseph L. Moskowitz sold 1,000 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $102.57, for a total value of $102,570.00. Following the sale, the director owned 25,105 shares in the company, valued at $2,575,019.85. This trade represents a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.80% of the stock is currently owned by insiders.

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.