Redmond Asset Management LLC Has $773,000 Stake in Aflac Incorporated $AFL

Redmond Asset Management LLC reduced its stake in Aflac Incorporated (NYSE:AFL) by 6.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,334 shares of the financial services provider’s stock after selling 488 shares during the period. Redmond Asset Management LLC’s holdings in Aflac were worth $773,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Aflac in the 2nd quarter valued at approximately $26,000. Whipplewood Advisors LLC boosted its stake in shares of Aflac by 1,526.7% in the 2nd quarter. Whipplewood Advisors LLC now owns 244 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 229 shares in the last quarter. Chilton Capital Management LLC acquired a new stake in shares of Aflac in the 2nd quarter valued at approximately $26,000. AlphaCore Capital LLC acquired a new stake in shares of Aflac in the 1st quarter valued at approximately $28,000. Finally, Hilltop National Bank acquired a new stake in shares of Aflac in the 2nd quarter valued at approximately $32,000. 67.44% of the stock is currently owned by institutional investors and hedge funds.

Aflac Stock Down 0.8%

Aflac stock opened at $106.70 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.11 and a current ratio of 0.11. Aflac Incorporated has a 52-week low of $96.95 and a 52-week high of $115.43. The firm has a 50 day moving average price of $108.70 and a two-hundred day moving average price of $105.62. The firm has a market cap of $57.07 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 2.98 and a beta of 0.86.

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

Aflac declared that its board has initiated a stock repurchase program on Tuesday, August 12th that permits the company to buyback 100,000,000 shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Aflac Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th were issued a dividend of $0.58 per share. The ex-dividend date was Wednesday, August 20th. This represents a $2.32 annualized dividend and a yield of 2.2%. Aflac’s dividend payout ratio (DPR) is presently 52.61%.

Insider Transactions at Aflac

In other Aflac news, Director Joseph L. Moskowitz sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $102.57, for a total transaction of $102,570.00. Following the completion of the transaction, the director owned 25,105 shares in the company, valued at approximately $2,575,019.85. This trade represents a 3.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Aflac from $105.00 to $107.00 and gave the company an “equal weight” rating in a research note on Monday, August 11th. Piper Sandler set a $125.00 price objective on shares of Aflac and gave the company an “overweight” rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods raised their price objective on shares of Aflac from $108.00 to $110.00 and gave the company a “market perform” rating in a report on Thursday, October 9th. Morgan Stanley raised their price objective on shares of Aflac from $108.00 to $113.00 and gave the company an “equal weight” rating in a report on Monday, August 18th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Aflac in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Aflac currently has a consensus rating of “Hold” and an average price target 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.