Pacer Advisors Inc. Cuts Stake in Aflac Incorporated (NYSE:AFL)

Key Points

• Pacer Advisors Inc. reduced its holdings in Aflac Incorporated (NYSE:AFL) by 36.8%, now owning 25,267 shares valued at approximately $2.8 million.
• Multiple institutional investors have increased or initiated stakes in Aflac, with 67.44% of the stock now owned by institutional investors and hedge funds.
• Aflac's recent quarterly earnings showed a 21.27% net margin, but revenue fell 37.5% year-over-year, missing analysts' expectations significantly.

Pacer Advisors Inc. reduced its position in Aflac Incorporated (NYSE:AFL - Free Report) by 36.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,267 shares of the financial services provider's stock after selling 14,717 shares during the period. Pacer Advisors Inc.'s holdings in Aflac were worth $2,809,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Aflac by 12,313.9% during the 1st quarter. GAMMA Investing LLC now owns 1,504,067 shares of the financial services provider's stock valued at $167,237,000 after buying an additional 1,491,951 shares during the last quarter. Northern Trust Corp grew its holdings in Aflac by 22.9% during the 4th quarter. Northern Trust Corp now owns 7,296,014 shares of the financial services provider's stock valued at $754,700,000 after buying an additional 1,357,753 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Aflac by 11.9% during the 4th 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 valued at $543,154,000 after buying an additional 556,394 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Aflac during the 4th quarter valued at $48,081,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Aflac during the 4th quarter valued at $42,409,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Aflac Trading Down 1.3%

Aflac stock traded down $1.26 during midday trading on Friday, reaching $98.10. The stock had a trading volume of 2,768,308 shares, compared to its average volume of 2,134,279. Aflac Incorporated has a twelve month low of $95.97 and a twelve month high of $115.50. The stock has a market capitalization of $53.04 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 3.05 and a beta of 0.81. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.09 and a current ratio of 0.09. The stock's 50-day simple moving average is $102.67 and its 200 day simple moving average is $105.09.

Aflac (NYSE:AFL - Get Free Report) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $1.66 earnings per share for the quarter, missing analysts' consensus estimates of $1.67 by ($0.01). Aflac had a net margin of 21.27% and a return on equity of 15.55%. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same quarter in the previous year, the business posted $1.66 EPS. Aflac's revenue was down 37.5% compared to the same quarter last year. Analysts expect that Aflac Incorporated will post 6.88 EPS for the current year.

Insider Activity at Aflac

In related news, Director Masatoshi Koide sold 37,000 shares of Aflac stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $105.59, for a total value of $3,906,830.00. Following the transaction, the director owned 70,992 shares in the company, valued at approximately $7,496,045.28. This trade represents a 34.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arthur Reginald Collins sold 2,750 shares of Aflac stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $105.70, for a total value of $290,675.00. Following the completion of the transaction, the director owned 6,728 shares in the company, valued at $711,149.60. The trade was a 29.01% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,750 shares of company stock worth $4,304,295. 0.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods increased their target price on Aflac from $104.00 to $106.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Barclays set a $98.00 target price on Aflac and gave the company an "underweight" rating in a report on Monday, July 7th. Morgan Stanley raised their price objective on Aflac from $100.00 to $105.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Wells Fargo & Company raised their price objective on Aflac from $103.00 to $105.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Finally, Wall Street Zen cut Aflac from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Aflac presently has a consensus rating of "Hold" and a consensus price target of $108.15.

Aflac Company Profile

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.