Aflac Incorporated $AFL Shares Sold by Nations Financial Group Inc. IA ADV

Key Points

• Nations Financial Group Inc. IA ADV reduced its stake in Aflac by 17.7%, resulting in ownership of 30,728 shares valued at approximately $3.42 million.
• Several analysts have adjusted their price targets for Aflac, with JPMorgan raising it from $96 to $100 and Wells Fargo from $105 to $107, while maintaining a generally "hold" rating.
• Aflac's board approved a share buyback plan for up to 100 million shares, reflecting a belief that the stock is undervalued.

Nations Financial Group Inc. IA ADV cut its stake in Aflac Incorporated (NYSE:AFL - Free Report) by 17.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,728 shares of the financial services provider's stock after selling 6,620 shares during the period. Nations Financial Group Inc. IA ADV's holdings in Aflac were worth $3,417,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AFL. GAMMA Investing LLC increased its position in shares of Aflac by 12,313.9% during the first quarter. GAMMA Investing LLC now owns 1,504,067 shares of the financial services provider's stock worth $167,237,000 after purchasing an additional 1,491,951 shares in the last quarter. Northern Trust Corp increased its position in shares of Aflac by 22.9% during the fourth quarter. Northern Trust Corp now owns 7,296,014 shares of the financial services provider's stock worth $754,700,000 after purchasing an additional 1,357,753 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Aflac during the first quarter worth about $140,746,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Aflac by 11.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,250,905 shares of the financial services provider's stock worth $543,154,000 after purchasing an additional 556,394 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Aflac during the fourth quarter worth about $48,081,000. 67.44% of the stock is currently owned by institutional investors and hedge funds.

Aflac Price Performance

Shares of NYSE:AFL traded up $1.1310 during trading on Tuesday, hitting $106.8910. 2,275,064 shares of the stock were exchanged, compared to its average volume of 2,170,026. The company has a fifty day moving average price of $102.62 and a two-hundred day moving average price of $104.80. The company has a market cap of $57.17 billion, a PE ratio of 24.24, a P/E/G ratio of 2.97 and a beta of 0.83. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.33. Aflac Incorporated has a 12-month low of $96.95 and a 12-month high of $115.50.

Aflac (NYSE:AFL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.71 by $0.07. The business had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.30 billion. Aflac had a return on equity of 15.08% and a net margin of 15.32%.The company's quarterly revenue was down 19.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.83 EPS. On average, analysts forecast that Aflac Incorporated will post 6.88 EPS for the current year.

Aflac Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $2.32 dividend on an annualized basis and a yield of 2.2%. Aflac's dividend payout ratio is presently 52.61%.

Aflac declared that its Board of Directors has authorized a stock buyback plan on Tuesday, August 12th that allows the company to repurchase 100,000,000 shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

AFL has been the topic of a number of research analyst reports. Evercore ISI reiterated an "underperform" rating and set a $106.00 target price (up previously from $105.00) on shares of Aflac in a research report on Thursday. UBS Group cut their target price on Aflac from $114.00 to $111.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Keefe, Bruyette & Woods boosted their price target on Aflac from $106.00 to $108.00 and gave the company a "market perform" rating in a research report on Monday, August 11th. Morgan Stanley boosted their price target on Aflac from $108.00 to $113.00 and gave the company an "equal weight" rating in a research report on Monday. Finally, Wells Fargo & Company boosted their price target on Aflac from $105.00 to $107.00 and gave the company an "equal weight" rating in a research report on Monday, August 11th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $109.15.

Insider Transactions at Aflac

In related news, Director Joseph L. Moskowitz sold 1,000 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $102.57, for a total value of $102,570.00. Following the sale, the director owned 25,105 shares of the company's stock, valued at approximately $2,575,019.85. This represents a 3.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.90% of the company's stock.

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.