Wealthfront Advisers LLC Lowers Holdings in Aflac Incorporated $AFL

Wealthfront Advisers LLC decreased its holdings in Aflac Incorporated (NYSE:AFL) by 8.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,566 shares of the financial services provider’s stock after selling 5,216 shares during the period. Wealthfront Advisers LLC’s holdings in Aflac were worth $6,282,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in Aflac by 64.4% during the 4th quarter. Brighton Jones LLC now owns 14,570 shares of the financial services provider’s stock valued at $1,507,000 after buying an additional 5,708 shares in the last quarter. Bison Wealth LLC grew its stake in Aflac by 4.3% during the fourth quarter. Bison Wealth LLC now owns 4,402 shares of the financial services provider’s stock valued at $455,000 after acquiring an additional 183 shares in the last quarter. Diversified Trust Co bought a new stake in Aflac in the 1st quarter valued at $200,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Aflac by 12.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,526 shares of the financial services provider’s stock worth $8,293,000 after purchasing an additional 8,091 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Aflac by 121.9% during the 1st 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 during the last quarter. Institutional investors own 67.44% of the company’s stock.

Aflac Trading Up 0.3%

AFL stock opened at $107.46 on Tuesday. Aflac Incorporated has a twelve month low of $96.95 and a twelve month high of $115.43. The stock has a market capitalization of $57.47 billion, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of 2.97 and a beta of 0.86. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.33. The firm’s fifty day simple moving average is $108.70 and its two-hundred day simple moving average is $105.61.

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

Aflac announced that its board has authorized a share repurchase program on Tuesday, August 12th that allows the company to repurchase 100,000,000 outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Aflac Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.2%. Aflac’s dividend payout ratio is currently 52.61%.

Insider Buying and Selling at Aflac

In related news, Director Joseph L. Moskowitz sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $102.57, for a total transaction of $102,570.00. Following the completion of the sale, the director directly owned 25,105 shares of the company’s stock, valued at approximately $2,575,019.85. This trade represents a 3.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

AFL has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Aflac in a research report on Wednesday, October 8th. UBS Group decreased their price objective on Aflac from $114.00 to $111.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. JPMorgan Chase & Co. increased their target price on Aflac from $96.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Piper Sandler set a $125.00 price target on shares of Aflac and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Finally, Wall Street Zen upgraded shares of Aflac from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $109.45.

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.