Aflac Incorporated $AFL Shares Sold by First Trust Advisors LP

Key Points

• First Trust Advisors LP trimmed its Aflac stake by 47.5%, selling 1,829,664 shares in the quarter and leaving it with 2,025,266 shares worth about $226.2 million.
• Other large investors moved in the opposite direction, with Norges Bank initiating a $432.2 million position and firms like Invesco, Marshall Wace, Balyasny and Dimensional materially increasing holdings, leaving institutional ownership at 67.44%.
• Aflac missed quarterly expectations (EPS $1.57 vs. $1.69 expected; revenue $4.28B vs. $4.45B) and carries an average analyst rating of "Hold" with a consensus target of $111.73.

First Trust Advisors LP trimmed its holdings in Aflac Incorporated (NYSE:AFL - Free Report) by 47.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,025,266 shares of the financial services provider's stock after selling 1,829,664 shares during the period. First Trust Advisors LP owned approximately 0.39% of Aflac worth $226,222,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Aflac in the 2nd quarter valued at $432,201,000. Invesco Ltd. grew its holdings in shares of Aflac by 16.7% during the 2nd quarter. Invesco Ltd. now owns 4,167,886 shares of the financial services provider's stock worth $439,545,000 after purchasing an additional 594,971 shares during the period. Marshall Wace LLP increased its position in shares of Aflac by 459.0% during the 2nd quarter. Marshall Wace LLP now owns 701,390 shares of the financial services provider's stock worth $73,969,000 after purchasing an additional 575,915 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of Aflac by 65.5% during the 2nd quarter. Balyasny Asset Management L.P. now owns 975,357 shares of the financial services provider's stock worth $102,861,000 after purchasing an additional 385,955 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Aflac by 7.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,414,180 shares of the financial services provider's stock valued at $493,047,000 after buying an additional 310,220 shares during the period. Institutional investors and hedge funds own 67.44% of the company's stock.

Insiders Place Their Bets

In other Aflac news, EVP Steven Kent Beaver sold 7,387 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $113.58, for a total transaction of $839,015.46. Following the sale, the executive vice president directly owned 40,526 shares in the company, valued at $4,602,943.08. This represents a 15.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is currently owned by insiders.

Aflac Stock Performance

Shares of Aflac stock opened at $111.48 on Friday. The business has a 50-day moving average of $111.70 and a 200 day moving average of $110.25. Aflac Incorporated has a 12 month low of $96.95 and a 12 month high of $119.32. The stock has a market capitalization of $57.56 billion, a price-to-earnings ratio of 16.20, a price-to-earnings-growth ratio of 3.64 and a beta of 0.66. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.11 and a quick ratio of 0.11.

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

Analyst Ratings Changes

AFL has been the topic of a number of recent analyst reports. TD Cowen reaffirmed a "hold" rating on shares of Aflac in a research report on Monday, December 22nd. Barclays set a $101.00 price target on shares of Aflac and gave the company an "underweight" rating in a research report on Thursday, January 8th. Wells Fargo & Company upped their price objective on shares of Aflac from $109.00 to $118.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 25th. Mizuho set a $107.00 price objective on shares of Aflac in a research report on Monday, February 9th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $119.00 target price (up from $110.00) on shares of Aflac in a report on Tuesday, December 30th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Aflac presently has an average rating of "Hold" and a consensus target price of $111.73.

Aflac Company Profile

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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