Assetmark Inc. Has $169.88 Million Stake in Aflac Incorporated (NYSE:AFL)

Key Points

• Assetmark Inc. reduced its stake in Aflac Incorporated by 5.5% during the first quarter, now holding 1,527,794 shares valued at approximately $169.88 million.
• Aflac reported a net margin of 21.27% and earnings per share of $1.66 for the latest quarter, slightly missing analyst expectations.
• The firm announced a quarterly dividend of $0.58, resulting in an annual yield of 2.24% and a current dividend payout ratio of 36.25%.

Assetmark Inc. lessened its stake in shares of Aflac Incorporated (NYSE:AFL - Free Report) by 5.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,527,794 shares of the financial services provider's stock after selling 88,978 shares during the quarter. Assetmark Inc. owned about 0.28% of Aflac worth $169,875,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AFL. Golden State Wealth Management LLC lifted its stake in shares of Aflac by 121.9% during the 1st quarter. Golden State Wealth Management LLC now owns 304 shares of the financial services provider's stock worth $34,000 after purchasing an additional 167 shares during the period. Garde Capital Inc. purchased a new position in shares of Aflac during the 1st quarter worth $36,000. Capital A Wealth Management LLC purchased a new position in shares of Aflac in the 4th quarter worth $38,000. NBC Securities Inc. purchased a new position in shares of Aflac in the 1st quarter worth $44,000. Finally, JCIC Asset Management Inc. purchased a new position in shares of Aflac in the 1st quarter worth $44,000. Institutional investors and hedge funds own 67.44% of the company's stock.

Aflac Price Performance

NYSE AFL traded up $0.95 on Friday, reaching $103.40. The company's stock had a trading volume of 2,023,594 shares, compared to its average volume of 2,454,763. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.29. The firm has a market cap of $55.90 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 3.16 and a beta of 0.81. Aflac Incorporated has a 52 week low of $94.03 and a 52 week high of $115.50. The business has a 50-day moving average price of $103.04 and a 200 day moving average price of $105.17.

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

Aflac Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Wednesday, May 21st were issued a $0.58 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $2.32 annualized dividend and a yield of 2.24%. Aflac's dividend payout ratio is currently 36.25%.

Analyst Ratings Changes

Several brokerages recently weighed in on AFL. Morgan Stanley increased their target price on Aflac from $100.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Wall Street Zen lowered Aflac from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Keefe, Bruyette & Woods increased their target price on Aflac from $104.00 to $106.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. raised their price objective on Aflac from $96.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company raised their price objective on Aflac from $103.00 to $105.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Three 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. Based on data from MarketBeat.com, Aflac currently has an average rating of "Hold" and a consensus target price of $108.15.

Insiders Place Their Bets

In other Aflac news, Director Joseph L. Moskowitz sold 1,000 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $106.79, for a total value of $106,790.00. Following the sale, the director directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Arthur Reginald Collins sold 2,750 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $105.70, for a total transaction of $290,675.00. Following the completion of the sale, the director owned 6,728 shares in the company, valued at approximately $711,149.60. This trade represents a 29.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,750 shares of company stock worth $4,304,295. Company insiders own 0.90% of the company's stock.

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.