Amundi Grows Position in Aflac Incorporated $AFL

Key Points

• Amundi increased its Aflac position by 22.6% in the first quarter, purchasing 603,426 additional shares for a total holding of 3.27 million shares valued at approximately $358.6 million. Hedge funds and other institutional investors collectively own 67.44% of Aflac.
• Insiders sold 744,916 shares worth about $87.1 million over the past three months, including a 63,000-share sale by major shareholder Post Holdings Co. Ltd. Japan under a Rule 10b5-1 trading plan.
• Analysts maintain a consensus “Hold” rating with an average price target of $116.17, below Aflac’s reported opening price of $128.77. The company’s latest quarterly revenue rose 27.9% year over year to $4.24 billion, though earnings per share missed estimates.

Amundi lifted its position in Aflac Incorporated (NYSE:AFL - Free Report) by 22.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,268,209 shares of the financial services provider's stock after purchasing an additional 603,426 shares during the period. Amundi owned about 0.64% of Aflac worth $358,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new position in shares of Aflac during the 1st quarter worth approximately $25,000. Quarry LP purchased a new stake in Aflac during the 4th quarter valued at about $25,000. Nalls Sherbakoff Group LLC purchased a new stake in Aflac during the 4th quarter valued at about $29,000. Evergreen Advisors LLC acquired a new stake in Aflac in the 1st quarter valued at about $29,000. Finally, Navalign LLC acquired a new position in Aflac during the fourth quarter worth $32,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Aflac

In related news, major shareholder Post Holdings Co. Ltd. Japan sold 63,000 shares of the company's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $118.12, for a total transaction of $7,441,560.00. Following the sale, the insider directly owned 51,169,435 shares in the company, valued at approximately $6,044,133,662.20. This represents a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 744,916 shares of company stock worth $87,118,632 over the last three months. Insiders own 0.80% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Morgan Stanley raised their target price on Aflac from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 21st. Wall Street Zen raised Aflac from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. TD Cowen reiterated a "hold" rating and set a $110.00 price target (up from $101.00) on shares of Aflac in a report on Wednesday, July 22nd. Barclays cut their price objective on Aflac from $99.00 to $98.00 and set an "underweight" rating for the company in a research report on Tuesday, July 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Aflac from $115.00 to $120.00 and gave the company a "market perform" rating in a report on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $116.17.

Aflac Price Performance

Shares of AFL opened at $128.77 on Thursday. The firm's 50 day moving average price is $119.26 and its 200 day moving average price is $114.58. The company has a market cap of $65.54 billion, a P/E ratio of 14.62, a PEG ratio of 2.00 and a beta of 0.61. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.26. Aflac Incorporated has a fifty-two week low of $96.95 and a fifty-two week high of $130.22.

Aflac (NYSE:AFL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $1.75 earnings per share for the quarter, missing analysts' consensus estimates of $1.80 by ($0.05). Aflac had a return on equity of 13.88% and a net margin of 25.60%.The company had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.20 billion. During the same period in the prior year, the company posted $1.66 EPS. The firm's revenue was up 27.9% compared to the same quarter last year. On average, research analysts forecast that Aflac Incorporated will post 7.06 earnings per share for the current fiscal year.

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.

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