Alberta Investment Management Corp Acquires Shares of 98,400 Aflac Incorporated $AFL

Alberta Investment Management Corp acquired a new stake in Aflac Incorporated (NYSE:AFL - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 98,400 shares of the financial services provider's stock, valued at approximately $11,537,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in AFL. Bank of New York Mellon Corp acquired a new position in shares of Aflac during the 2nd quarter worth approximately $298,418,000. Avalon Trust Co acquired a new stake in Aflac during the 2nd quarter valued at $164,000. Family Legacy Inc. bought a new position in Aflac during the second quarter worth $306,000. Maridea Wealth Management LLC bought a new position in Aflac during the second quarter worth $244,000. Finally, Bridgewater Advisors Inc. acquired a new position in shares of Aflac in the second quarter valued at $456,000. 67.44% of the stock is currently owned by institutional investors.

Aflac Price Performance

Shares of Aflac stock opened at $121.38 on Monday. Aflac Incorporated has a twelve month low of $104.66 and a twelve month high of $130.22. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.29. The company has a 50-day simple moving average of $121.36 and a two-hundred day simple moving average of $115.86. The stock has a market capitalization of $60.85 billion, a price-to-earnings ratio of 13.01, a price-to-earnings-growth ratio of 1.96 and a beta of 0.60.

Aflac (NYSE:AFL - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.76 by ($0.01). Aflac had a net margin of 26.91% and a return on equity of 13.27%. The business had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same period in the prior year, the firm earned $1.78 EPS. The business's revenue for the quarter was down 1.0% on a year-over-year basis. Analysts forecast that Aflac Incorporated will post 7.04 EPS for the current year.

Aflac Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Wednesday, August 19th. Aflac's payout ratio is 26.15%.

Insider Activity at Aflac

In other Aflac news, Director Joseph L. Moskowitz sold 600 shares of Aflac stock in a transaction on Monday, August 10th. The stock was sold at an average price of $124.10, for a total value of $74,460.00. Following the completion of the transaction, the director directly owned 32,710 shares of the company's stock, valued at $4,059,311. The trade was a 1.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Post Holdings Co. Ltd. Japan sold 27,845 shares of the company's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $116.71, for a total value of $3,249,789.95. Following the sale, the insider owned 50,898,490 shares of the company's stock, valued at approximately $5,940,362,767.90. The trade was a 0.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 578,333 shares of company stock valued at $67,710,836. 0.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AFL shares. Wall Street Zen lowered shares of Aflac from a "hold" rating to a "sell" rating in a research report on Saturday. Morgan Stanley lifted their target price on shares of Aflac from $120.00 to $125.00 and gave the stock an "equal weight" rating in a report on Thursday, May 21st. TD Cowen reiterated a "hold" rating and issued a $110.00 price target (up from $101.00) on shares of Aflac in a research note on Wednesday, July 22nd. Jefferies Financial Group restated a "hold" rating and set a $108.00 price objective (up from $100.00) on shares of Aflac in a research report on Friday, July 10th. Finally, Piper Sandler restated an "overweight" rating and set a $138.00 price objective (up from $130.00) on shares of Aflac in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Aflac currently has an average rating of "Hold" and an average price target of $117.58.

Aflac 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.

Want to see what other hedge funds are holding AFL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aflac Incorporated (NYSE:AFL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source