Brightwater Advisory LLC Invests $2.37 Million in Aflac Incorporated $AFL

Key Points

• Brightwater Advisory LLC initiated a $2.37 million position in Aflac, purchasing 20,192 shares during the second quarter. Institutional investors collectively own 67.44% of the company.
• Aflac reported quarterly revenue of $4.22 billion, above estimates, but earnings of $1.75 per share narrowly missed consensus. Revenue declined 1% year over year.
• The company declared a quarterly dividend of $0.61 per share, equivalent to an annualized $2.44 payout and a 2.0% yield. Analysts maintain an overall “Hold” rating with an average price target of $117.58.

Brightwater Advisory LLC purchased a new stake in shares of Aflac Incorporated (NYSE:AFL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,192 shares of the financial services provider's stock, valued at approximately $2,368,000. Aflac accounts for 1.5% of Brightwater Advisory LLC's portfolio, making the stock its 12th biggest holding.

Several other hedge funds have also made changes to their positions in AFL. Stephens Inc. AR raised its stake in Aflac by 0.4% during the 4th quarter. Stephens Inc. AR now owns 21,945 shares of the financial services provider's stock valued at $2,420,000 after purchasing an additional 91 shares during the period. Compound Planning Inc. boosted its position in shares of Aflac by 0.7% in the first quarter. Compound Planning Inc. now owns 13,743 shares of the financial services provider's stock worth $1,508,000 after buying an additional 91 shares during the period. Root Financial Partners LLC boosted its position in shares of Aflac by 4.5% in the fourth quarter. Root Financial Partners LLC now owns 2,119 shares of the financial services provider's stock worth $234,000 after buying an additional 92 shares during the period. CENTRAL TRUST Co grew its holdings in shares of Aflac by 0.5% during the fourth quarter. CENTRAL TRUST Co now owns 19,088 shares of the financial services provider's stock valued at $2,105,000 after buying an additional 95 shares in the last quarter. Finally, HBK Sorce Advisory LLC grew its holdings in shares of Aflac by 1.2% during the fourth quarter. HBK Sorce Advisory LLC now owns 7,702 shares of the financial services provider's stock valued at $902,000 after buying an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 67.44% of the company's stock.

Insider Activity at Aflac

In other news, major shareholder Post Holdings Co. Ltd. Japan sold 63,000 shares of the firm's stock in a transaction 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 transaction, the insider owned 51,169,435 shares in the company, valued at approximately $6,044,133,662.20. This trade represents a 0.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 523,833 shares of company stock worth $61,339,113. Corporate insiders own 0.80% of the company's stock.

Aflac Stock Up 0.6%

AFL opened at $121.74 on Wednesday. The company has a market capitalization of $61.03 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 1.96 and a beta of 0.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.12 and a quick ratio of 0.12. Aflac Incorporated has a fifty-two week low of $104.66 and a fifty-two week high of $130.22. The business has a 50-day moving average of $121.60 and a 200-day moving average of $116.04.

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

Aflac Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AFL. Weiss Ratings downgraded Aflac from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Friday, August 7th. TD Cowen reiterated a "hold" rating and issued a $110.00 target price (up from $101.00) on shares of Aflac in a report on Wednesday, July 22nd. Wall Street Zen lowered shares of Aflac from a "hold" rating to a "sell" rating in a research report on Saturday. Keefe, Bruyette & Woods raised their price target on shares of Aflac from $120.00 to $125.00 and gave the stock a "market perform" rating in a report on Tuesday, August 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Aflac from $111.00 to $120.00 and gave the company an "equal weight" rating in a research 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 issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Aflac currently has an average rating of "Hold" and an average target price 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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