Aflac Incorporated $AFL Stock Position Decreased by State of Alaska Department of Revenue

Key Points

• State of Alaska Department of Revenue cut its stake in Aflac by 22.3% in Q4, selling 17,268 shares and ending the period with 60,210 shares valued at $6,638,000.
• Significant insider selling: Post Holdings Co. Ltd. Japan sold 86,155 shares for about $9.76M, and insiders have sold a total of 572,632 shares (~$63.5M) over the past 90 days, while corporate insiders still own 0.80% of the stock.
• Aflac missed quarterly expectations (EPS $1.57 vs. $1.69 estimate; revenue $4.28B vs. $4.45B), and analysts are mixed—consensus rating is Hold with a target price of about $111.82, near the recent trading level (~$111.93).

State of Alaska Department of Revenue lessened its holdings in shares of Aflac Incorporated (NYSE:AFL - Free Report) by 22.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 60,210 shares of the financial services provider's stock after selling 17,268 shares during the period. State of Alaska Department of Revenue's holdings in Aflac were worth $6,638,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Confluence Wealth Services Inc. grew its position in shares of Aflac by 0.8% during the 3rd quarter. Confluence Wealth Services Inc. now owns 11,827 shares of the financial services provider's stock valued at $1,321,000 after buying an additional 97 shares during the last quarter. Courier Capital LLC boosted its stake in Aflac by 3.9% during the 3rd quarter. Courier Capital LLC now owns 2,597 shares of the financial services provider's stock valued at $290,000 after purchasing an additional 97 shares during the period. Dynamic Advisor Solutions LLC boosted its stake in Aflac by 5.1% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 2,037 shares of the financial services provider's stock valued at $227,000 after purchasing an additional 99 shares during the period. Stiles Financial Services Inc boosted its stake in Aflac by 3.2% during the 3rd quarter. Stiles Financial Services Inc now owns 3,169 shares of the financial services provider's stock valued at $354,000 after purchasing an additional 99 shares during the period. Finally, Berkeley Capital Partners LLC boosted its stake in Aflac by 0.9% during the 3rd quarter. Berkeley Capital Partners LLC now owns 11,669 shares of the financial services provider's stock valued at $1,303,000 after purchasing an additional 99 shares during the period. Institutional investors own 67.44% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Raymond James Financial reissued an "outperform" rating and set a $119.00 target price (up from $110.00) on shares of Aflac in a research note on Tuesday, December 30th. Piper Sandler raised shares of Aflac to a "strong-buy" rating in a research note on Thursday, April 2nd. Wall Street Zen lowered shares of Aflac from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th. Evercore raised shares of Aflac from a "strong sell" rating to a "strong-buy" rating in a research note on Thursday, April 9th. Finally, Wells Fargo & Company reduced their target price on shares of Aflac from $118.00 to $116.00 and set an "equal weight" rating for the company in a research note on Friday, April 10th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $111.82.

Insider Buying and Selling at Aflac

In other news, major shareholder Post Holdings Co. Ltd. Japan sold 86,155 shares of the company's stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $113.24, for a total value of $9,756,192.20. Following the completion of the sale, the insider directly owned 51,636,945 shares of the company's stock, valued at approximately $5,847,367,651.80. This represents a 0.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 572,632 shares of company stock valued at $63,514,634. Corporate insiders own 0.80% of the company's stock.

Aflac Trading Down 0.2%

Shares of NYSE:AFL opened at $111.93 on Wednesday. The company has a 50 day moving average of $111.44 and a 200-day moving average of $110.56. The firm has a market cap of $57.66 billion, a P/E ratio of 16.27, a P/E/G ratio of 3.66 and a beta of 0.66. Aflac Incorporated has a twelve month low of $96.95 and a twelve month high of $119.32. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.29.

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 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 analyst estimates of $4.45 billion. Aflac had a return on equity of 14.35% and a net margin of 21.24%.The company's revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.57 earnings per share. As a group, analysts anticipate that Aflac Incorporated will post 6.88 earnings per share for the current fiscal year.

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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