California State Teachers Retirement System Buys 85,685,796 Shares of Aflac Incorporated $AFL

California State Teachers Retirement System increased its position in Aflac Incorporated (NYSE:AFL - Free Report) by 11,094.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,458,157 shares of the financial services provider's stock after purchasing an additional 85,685,796 shares during the period. California State Teachers Retirement System owned approximately 17.25% of Aflac worth $10,137,219,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Archer Investment Corp bought a new position in shares of Aflac in the second quarter worth approximately $26,000. 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 stake in shares of Aflac during the first quarter valued at approximately $25,000. Edmond DE Rothschild Holding S.A. purchased a new position in Aflac in the 2nd quarter worth approximately $27,000. Finally, Whipplewood Advisors LLC purchased a new position in Aflac in the 1st quarter worth approximately $25,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Post Holdings Co. Ltd. Japan sold 20,000 shares of the company's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $118.49, for a total value of $2,369,800.00. Following the completion of the sale, the insider directly owned 50,667,690 shares in the company, valued at $6,003,614,588.10. This represents a 0.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 448,715 shares of company stock worth $52,782,886. Insiders own 0.80% of the company's stock.

Aflac Trading Down 1.7%

Aflac stock opened at $115.19 on Wednesday. The business has a 50-day simple moving average of $121.39 and a two-hundred day simple moving average of $116.30. Aflac Incorporated has a 52-week low of $105.43 and a 52-week high of $130.22. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.29. The company has a market cap of $57.75 billion, a P/E ratio of 12.35, a P/E/G ratio of 1.89 and a beta of 0.59.

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

Aflac Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th were paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Wednesday, August 19th. Aflac's dividend payout ratio (DPR) is currently 26.15%.

Analysts Set New Price Targets

Several analysts have commented on AFL shares. Wolfe Research assumed coverage on Aflac in a research note on Wednesday, August 19th. They set an "underperform" rating and a $103.00 target price on the stock. Keefe, Bruyette & Woods boosted their price target on Aflac from $120.00 to $125.00 and gave the stock a "market perform" rating in a research note on Tuesday, August 11th. Piper Sandler reaffirmed an "overweight" rating and set a $138.00 price objective (up from $130.00) on shares of Aflac in a research report on Monday, August 10th. Barclays reiterated an "underweight" rating and issued a $99.00 price objective (up from $98.00) on shares of Aflac in a report on Friday, August 7th. Finally, Morgan Stanley raised their price target on shares of Aflac from $120.00 to $125.00 and gave the company an "equal weight" rating in a report on Thursday, May 21st. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Aflac presently has an average rating of "Hold" and a consensus price target of $116.62.

Aflac Company 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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