Aflac Incorporated (NYSE:AFL) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in Aflac Incorporated by 46.4%, now holding 257,464 shares worth approximately $28.6 million.
• Aflac's stock has been rated with an average of "Hold" by analysts, with price targets ranging from $98 to $124.
• The company recently announced a quarterly dividend of $0.58 per share, yielding 2.30% annually, with a payout ratio of 36.25%.

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Aflac Incorporated (NYSE:AFL - Free Report) by 46.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 257,464 shares of the financial services provider's stock after selling 223,055 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Aflac were worth $28,627,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC increased its holdings in shares of Aflac by 121.9% in the first quarter. Golden State Wealth Management LLC now owns 304 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 167 shares during the period. Garde Capital Inc. acquired a new position in Aflac during the first quarter worth $36,000. Capital A Wealth Management LLC acquired a new position in Aflac during the fourth quarter worth $38,000. NBC Securities Inc. acquired a new position in Aflac during the first quarter worth $44,000. Finally, JCIC Asset Management Inc. acquired a new position in Aflac during the first quarter worth $44,000. Institutional investors and hedge funds own 67.44% of the company's stock.

Aflac Price Performance

Shares of NYSE:AFL traded down $1.85 on Friday, hitting $97.51. The company had a trading volume of 1,121,023 shares, compared to its average volume of 2,122,345. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.29. Aflac Incorporated has a 52-week low of $95.97 and a 52-week high of $115.50. The business has a 50 day moving average of $102.67 and a 200 day moving average of $105.09. The company has a market cap of $52.72 billion, a PE ratio of 15.24, a PEG ratio of 3.05 and a beta of 0.81.

Aflac (NYSE:AFL - Get Free Report) last released its earnings results on Wednesday, April 30th. The financial services provider reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.01). Aflac had a return on equity of 15.55% and a net margin of 21.27%. The business had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $4.53 billion. During the same quarter last year, the company posted $1.66 earnings per share. The business's quarterly revenue was down 37.5% compared to the same quarter last year. As a group, equities analysts anticipate that Aflac Incorporated will post 6.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Masatoshi Koide sold 37,000 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $105.59, for a total transaction of $3,906,830.00. Following the transaction, the director directly owned 70,992 shares in the company, valued at approximately $7,496,045.28. This represents a 34.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph L. Moskowitz sold 1,000 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $106.79, for a total value of $106,790.00. Following the completion of the transaction, the director owned 26,096 shares in the company, valued at approximately $2,786,791.84. This trade represents a 3.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,750 shares of company stock worth $4,304,295. 0.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AFL shares. Wells Fargo & Company upped 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. Keefe, Bruyette & Woods upped their price objective on Aflac from $104.00 to $106.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Wall Street Zen lowered Aflac from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Raymond James Financial lowered their target price on Aflac from $115.00 to $110.00 and set an "outperform" rating on the stock in a report on Thursday, May 29th. Finally, Morgan Stanley upped their target price on Aflac from $100.00 to $105.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $108.15.

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.