Destination Wealth Management Cuts Stock Holdings in Aflac Incorporated (NYSE:AFL)

Destination Wealth Management trimmed its stake in shares of Aflac Incorporated (NYSE:AFL) by 2.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 239,323 shares of the financial services provider’s stock after selling 6,630 shares during the period. Destination Wealth Management’s holdings in Aflac were worth $24,756,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AFL. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in shares of Aflac by 15.7% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,122 shares of the financial services provider’s stock worth $737,000 after buying an additional 966 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its stake in shares of Aflac by 1.9% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 5,927 shares of the financial services provider’s stock worth $613,000 after buying an additional 110 shares in the last quarter. Callan Family Office LLC purchased a new position in shares of Aflac in the 4th quarter worth $1,795,000. Candriam S.C.A. grew its stake in shares of Aflac by 17.8% in the 4th quarter. Candriam S.C.A. now owns 42,984 shares of the financial services provider’s stock worth $4,446,000 after buying an additional 6,495 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. purchased a new position in shares of Aflac in the 4th quarter worth $287,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Aflac Trading Down 0.2 %

Shares of AFL opened at $107.89 on Friday. The company has a current ratio of 0.10, a quick ratio of 0.08 and a debt-to-equity ratio of 0.29. Aflac Incorporated has a 12-month low of $79.31 and a 12-month high of $115.50. The firm has a 50-day moving average price of $104.98 and a 200 day moving average price of $107.67. The firm has a market capitalization of $58.97 billion, a P/E ratio of 11.24, a P/E/G ratio of 3.24 and a beta of 0.93.

Aflac (NYSE:AFL) last announced its earnings results on Wednesday, February 5th. The financial services provider reported $1.56 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.07). Aflac had a return on equity of 16.20% and a net margin of 28.76%. Sell-side analysts forecast that Aflac Incorporated will post 6.88 EPS for the current year.

Insider Activity

In related news, EVP Audrey B. Tillman sold 24,744 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $103.40, for a total value of $2,558,529.60. Following the sale, the executive vice president now owns 222,618 shares of the company’s stock, valued at $23,018,701.20. This trade represents a 10.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

AFL has been the subject of a number of recent analyst reports. Evercore ISI dropped their price target on shares of Aflac from $104.00 to $102.00 and set an “underperform” rating for the company in a research note on Wednesday, December 4th. BMO Capital Markets initiated coverage on shares of Aflac in a research note on Thursday, January 23rd. They set a “market perform” rating and a $111.00 price target for the company. Keefe, Bruyette & Woods dropped their price target on shares of Aflac from $107.00 to $104.00 and set a “market perform” rating for the company in a research note on Wednesday, February 12th. Morgan Stanley lifted their price objective on shares of Aflac from $98.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Finally, Barclays decreased their price objective on shares of Aflac from $98.00 to $95.00 and set an “underweight” rating for the company in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Aflac has an average rating of “Hold” and a consensus price target of $103.36.

About Aflac

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.