42,440 Shares in Aflac Incorporated $AFL Acquired by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management acquired 42,440 Aflac shares worth approximately $4.98 million in the second quarter. Institutional investors and hedge funds collectively own 67.44% of Aflac.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $116.62. Recent targets range from $103 to $122, while Wolfe Research initiated coverage with an “underperform” rating.
• Aflac reported quarterly revenue of $4.22 billion, above expectations, but EPS of $1.75 narrowly missed estimates. The company declared a quarterly dividend of $0.61 per share, representing a 2.1% yield.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Aflac Incorporated (NYSE:AFL - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 42,440 shares of the financial services provider's stock, valued at approximately $4,976,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of Aflac in the fourth quarter worth $25,000. Groupe la Francaise acquired a new position in shares of Aflac during the 1st quarter valued at $25,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Aflac during the 2nd quarter valued at $27,000. Whipplewood Advisors LLC purchased a new stake in Aflac during the 1st quarter worth $25,000. Finally, Nalls Sherbakoff Group LLC purchased a new stake in Aflac during the 4th quarter worth $29,000. 67.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AFL shares. Wells Fargo & Company set a $122.00 price target on Aflac and gave the company an "equal weight" rating in a report on Wednesday, August 19th. Wolfe Research assumed coverage on Aflac in a research note on Wednesday, August 19th. They set an "underperform" rating and a $103.00 price objective on the stock. Mizuho set a $116.00 target price on Aflac in a research report on Monday, August 10th. JPMorgan Chase & Co. lowered their target price on Aflac from $117.00 to $116.00 and set a "neutral" rating for the company in a research note on Tuesday, August 11th. Finally, Weiss Ratings upgraded Aflac from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Aflac has a consensus rating of "Hold" and an average price target of $116.62.

Aflac Price Performance

Shares of AFL stock opened at $116.45 on Friday. The firm has a fifty day simple moving average of $121.60 and a 200-day simple moving average of $116.21. The company has a market capitalization of $58.38 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.89 and a beta of 0.60. Aflac Incorporated has a twelve month low of $104.66 and a twelve month high of $130.22. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.29.

Aflac (NYSE:AFL - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.76 by ($0.01). Aflac had a return on equity of 13.27% and a net margin of 26.91%.The firm had revenue of $4.22 billion for the quarter, compared to analysts' expectations of $4.11 billion. During the same period last year, the firm earned $1.78 EPS. The business's quarterly revenue was down 1.0% on a year-over-year basis. Equities research analysts anticipate that Aflac Incorporated will post 7.04 earnings per share for the current fiscal year.

Aflac Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be paid a dividend of $0.61 per share. The ex-dividend date is Wednesday, August 19th. This represents a $2.44 annualized dividend and a dividend yield of 2.1%. Aflac's dividend payout ratio (DPR) is currently 26.15%.

Insider Transactions at Aflac

In related news, major shareholder Post Holdings Co. Ltd. Japan sold 12,700 shares of the business's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $116.49, for a total value of $1,479,423.00. Following the transaction, the insider owned 50,765,590 shares in the company, valued at approximately $5,913,683,579.10. The trade was a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joseph L. Moskowitz sold 600 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $124.10, for a total value of $74,460.00. Following the completion of the transaction, the director directly owned 32,710 shares of the company's stock, valued at $4,059,311. This represents a 1.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 502,125 shares of company stock worth $58,965,806. Corporate insiders own 0.80% of the company's stock.

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.

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