Charles Lake II Sells 15,590 Shares of Aflac (NYSE:AFL) Stock

Key Points

• Director Charles Lake II sold 15,590 Aflac shares on March 11 at an average price of $109.93 for about $1.7138 million, cutting his position by 20.03% to 62,237 shares worth roughly $6.84 million (SEC Form 4 disclosure).
• Aflac recently missed quarterly expectations (EPS $1.57 vs. $1.69 and revenue $4.28B vs. $4.45B, with revenue down 9.6% YoY); the stock trades around $109.47, the market cap is about $56.5B, and analysts hold a consensus rating of Hold with an average price target of $111.73.

Aflac Incorporated (NYSE:AFL - Get Free Report) Director Charles Lake II sold 15,590 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $109.93, for a total transaction of $1,713,808.70. Following the transaction, the director directly owned 62,237 shares of the company's stock, valued at approximately $6,841,713.41. This trade represents a 20.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Aflac Trading Down 0.1%

Shares of Aflac stock traded down $0.16 on Friday, reaching $109.47. The company had a trading volume of 130,077 shares, compared to its average volume of 2,282,948. The firm has a market cap of $56.53 billion, a PE ratio of 15.91, a PEG ratio of 3.58 and a beta of 0.66. The company has a debt-to-equity ratio of 0.29, 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 $119.32. The firm's 50 day moving average price is $111.66 and its two-hundred day moving average price is $110.29.

Aflac (NYSE:AFL - Get Free Report) last posted its earnings results on Wednesday, February 4th. The financial services provider reported $1.57 EPS for the quarter, missing analysts' consensus estimates of $1.69 by ($0.12). The company had revenue of $4.28 billion during the quarter, compared to analysts' expectations of $4.45 billion. Aflac had a net margin of 21.24% and a return on equity of 14.35%. The company's quarterly revenue was down 9.6% on a year-over-year basis. During the same period last year, the business earned $1.57 earnings per share. Sell-side analysts predict that Aflac Incorporated will post 6.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AFL shares. Mizuho set a $107.00 target price on Aflac in a research report on Monday, February 9th. JPMorgan Chase & Co. boosted their price target on Aflac from $101.00 to $105.00 and gave the stock a "neutral" rating in a research report on Monday, January 5th. Raymond James Financial reaffirmed an "outperform" rating and issued a $119.00 price objective (up from $110.00) on shares of Aflac in a research report on Tuesday, December 30th. Weiss Ratings reiterated a "buy (b+)" rating on shares of Aflac in a research note on Monday, December 22nd. Finally, Barclays set a $101.00 target price on shares of Aflac and gave the stock an "underweight" rating in a research report on Thursday, January 8th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Aflac has a consensus rating of "Hold" and an average price target of $111.73.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC increased its position in Aflac by 188.5% in the 3rd quarter. True Wealth Design LLC now owns 225 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 147 shares during the period. Quarry LP bought a new stake in shares of Aflac during the fourth quarter valued at about $25,000. Nalls Sherbakoff Group LLC acquired a new stake in Aflac in the fourth quarter worth about $29,000. Navalign LLC bought a new position in Aflac in the 4th quarter valued at about $32,000. Finally, Darwin Wealth Management LLC acquired a new position in Aflac during the 2nd quarter valued at about $33,000. 67.44% of the stock is owned by institutional investors and hedge funds.

About Aflac

Aflac Incorporated (American Family Life Assurance Company of Columbus) is a provider of supplemental insurance products designed to help policyholders manage out-of-pocket health care and living expenses. The company underwrites a range of individual and group policies that typically pay cash benefits directly to insureds when covered events occur, enabling greater financial flexibility for medical treatment, hospital stays, critical illness, and related costs. Aflac's product mix includes supplemental health insurance, life insurance and other specialty coverages intended to complement primary medical plans.

Founded in the mid-20th century and headquartered in Columbus, Georgia, Aflac distributes its products through a combination of employer-sponsored programs, independent brokers and agents, and direct marketing.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.