Avantax Advisory Services Inc. Boosts Stake in Aflac Incorporated (NYSE:AFL)

Key Points

• Avantax Advisory Services Inc. increased its stake in Aflac by 3.2%, owning 109,374 shares valued at approximately $12.16 million as of their latest SEC filing.
• Multiple institutional investors have also recently modified their positions in Aflac, with 67.44% of the stock now owned by these entities.
• Aflac's stock has seen varied analyst ratings, with a current consensus rating of "Hold" and an average price target of $108.15.

Avantax Advisory Services Inc. lifted its holdings in shares of Aflac Incorporated (NYSE:AFL - Free Report) by 3.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 109,374 shares of the financial services provider's stock after purchasing an additional 3,365 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Aflac were worth $12,161,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AFL. Golden State Wealth Management LLC boosted its position in shares of Aflac by 121.9% during the first quarter. Golden State Wealth Management LLC now owns 304 shares of the financial services provider's stock worth $34,000 after buying an additional 167 shares during the period. Garde Capital Inc. acquired a new position in Aflac during the 1st quarter worth about $36,000. Capital A Wealth Management LLC purchased a new position in Aflac during the 4th quarter valued at about $38,000. NBC Securities Inc. acquired a new position in Aflac in the 1st quarter valued at about $44,000. Finally, JCIC Asset Management Inc. purchased a new stake in Aflac during the first quarter worth about $44,000. 67.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on AFL. Wall Street Zen cut shares of Aflac from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Wells Fargo & Company boosted their price target on shares of Aflac from $103.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Raymond James Financial reduced their price objective on Aflac from $115.00 to $110.00 and set an "outperform" rating on the stock in a research note on Thursday, May 29th. Barclays set a $98.00 target price on Aflac and gave the company an "underweight" rating in a report on Monday, July 7th. Finally, Piper Sandler upped their price target on Aflac from $118.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $108.15.

Aflac Stock Performance

Shares of Aflac stock opened at $103.40 on Friday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.29. Aflac Incorporated has a 52 week low of $94.03 and a 52 week high of $115.50. The firm's 50 day moving average is $103.04 and its two-hundred day moving average is $105.17. The firm has a market capitalization of $55.90 billion, a P/E ratio of 16.16, a P/E/G ratio of 3.16 and a beta of 0.81.

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

Aflac Dividend Announcement

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

Insider Activity

In related news, Director Masatoshi Koide sold 37,000 shares of the firm's stock in a transaction that occurred on 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 owned 70,992 shares in the company, valued at $7,496,045.28. This trade represents a 34.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Arthur Reginald Collins sold 2,750 shares of Aflac stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $105.70, for a total value of $290,675.00. Following the transaction, the director directly owned 6,728 shares in the company, valued at approximately $711,149.60. This trade represents a 29.01% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 40,750 shares of company stock valued at $4,304,295. 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.

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