AMG National Trust Bank Invests $2.97 Million in Aflac Incorporated $AFL

Key Points

• AMG National Trust Bank purchased 25,311 Aflac shares worth approximately $2.97 million in the second quarter. Institutional investors collectively own 67.44% of Aflac’s outstanding stock.
• Aflac reported quarterly EPS of $1.75, slightly below the $1.76 consensus estimate, while revenue of $4.22 billion exceeded expectations. Revenue declined 1% year over year.
• Aflac declared a quarterly dividend of $0.61 per share, equivalent to an annualized $2.44 dividend and a 2.0% yield. Analysts maintain a consensus “Hold” rating with an average price target of $117.58.

AMG National Trust Bank purchased a new stake in shares of Aflac Incorporated (NYSE:AFL - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 25,311 shares of the financial services provider's stock, valued at approximately $2,968,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Aflac during the fourth quarter valued at approximately $25,000. Groupe la Francaise bought a new position in Aflac in the first quarter worth $25,000. Whipplewood Advisors LLC bought a new position in Aflac in the first quarter worth $25,000. Nalls Sherbakoff Group LLC bought a new position in shares of Aflac during the fourth quarter valued at approximately $29,000. Finally, Evergreen Advisors LLC bought a new position in shares of Aflac during the first quarter valued at approximately $29,000. 67.44% of the stock is currently owned by institutional investors.

Aflac Trading Down 0.1%

Shares of NYSE:AFL opened at $121.38 on Monday. The stock has a 50 day moving average of $121.36 and a 200 day moving average of $115.86. The company has a market cap of $60.85 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 1.96 and a beta of 0.60. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.29. Aflac Incorporated has a 12-month low of $104.66 and a 12-month high of $130.22.

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

Aflac Dividend Announcement

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

Insider Buying and Selling at Aflac

In other news, major shareholder Post Holdings Co. Ltd. Japan sold 63,000 shares of Aflac stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $118.12, for a total value of $7,441,560.00. Following the sale, the insider directly owned 51,169,435 shares of the company's stock, valued at approximately $6,044,133,662.20. The trade was a 0.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 578,333 shares of company stock worth $67,710,836 in the last ninety days. Company insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AFL shares. JPMorgan Chase & Co. dropped their price target on Aflac from $117.00 to $116.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 11th. Keefe, Bruyette & Woods increased their price objective on shares of Aflac from $120.00 to $125.00 and gave the company a "market perform" rating in a research report on Tuesday, August 11th. Mizuho set a $116.00 price objective on shares of Aflac in a research note on Monday, August 10th. Piper Sandler restated an "overweight" rating and set a $138.00 price objective (up from $130.00) on shares of Aflac in a research note on Monday, August 10th. Finally, Wells Fargo & Company upped their price target on Aflac from $111.00 to $120.00 and gave the company an "equal weight" rating in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $117.58.

About Aflac

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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