Canada Pension Plan Investment Board purchased a new stake in shares of Aflac Incorporated (NYSE:AFL - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 830,285 shares of the financial services provider's stock, valued at approximately $97,351,000. Canada Pension Plan Investment Board owned about 0.17% of Aflac at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Aflac during the 2nd quarter valued at $4,093,787,000. Dimensional Fund Advisors LP raised its position in Aflac by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,550,855 shares of the financial services provider's stock worth $499,216,000 after purchasing an additional 67,650 shares during the period. Norges Bank bought a new stake in Aflac in the fourth quarter worth $420,078,000. Legal & General Group Plc bought a new stake in Aflac in the second quarter worth $404,639,000. Finally, Amundi boosted its position in Aflac by 22.6% during the first quarter. Amundi now owns 3,268,209 shares of the financial services provider's stock valued at $358,555,000 after buying an additional 603,426 shares during the period. 67.44% of the stock is owned by hedge funds and other institutional investors.
Aflac Price Performance
Shares of Aflac stock opened at $117.53 on Thursday. The company's fifty day simple moving average is $121.58 and its two-hundred day simple moving average is $116.21. Aflac Incorporated has a 12-month low of $104.66 and a 12-month high of $130.22. The firm has a market cap of $58.92 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.87 and a beta of 0.60. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.29.
Aflac (NYSE:AFL - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $4.11 billion. Aflac had a net margin of 26.91% and a return on equity of 13.27%. The business's revenue was down 1.0% on a year-over-year basis. During the same period last year, the company posted $1.78 earnings per share. As a group, equities analysts expect that Aflac Incorporated will post 7.04 EPS for the current year.
Aflac Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.44 dividend on an annualized basis and a yield of 2.1%. Aflac's dividend payout ratio is presently 26.15%.
Insider Activity at Aflac
In other Aflac news, major shareholder Post Holdings Co. Ltd. Japan sold 13,500 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $118.02, for a total value of $1,593,270.00. Following the completion of the sale, the insider owned 50,778,290 shares in the company, valued at approximately $5,992,853,785.80. This trade represents a 0.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joseph L. Moskowitz sold 600 shares of Aflac stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $124.10, for a total value of $74,460.00. Following the completion of the sale, the director owned 32,710 shares in the company, valued at approximately $4,059,311. This represents a 1.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 498,625 shares of company stock valued at $58,523,683. Company insiders own 0.80% of the company's stock.
Wall Street Analyst Weigh In
AFL has been the topic of a number of recent research reports. Mizuho set a $116.00 price objective on Aflac in a research note on Monday, August 10th. JPMorgan Chase & Co. lowered their target price on Aflac from $117.00 to $116.00 and set a "neutral" rating for the company in a research note on Tuesday, August 11th. Piper Sandler restated an "overweight" rating and set a $138.00 target price (up from $130.00) on shares of Aflac in a report on Monday, August 10th. TD Cowen restated a "hold" rating and set a $110.00 price target (up from $101.00) on shares of Aflac in a research report on Wednesday, July 22nd. Finally, Wolfe Research started coverage on Aflac in a research note on Wednesday, August 19th. They issued an "underperform" rating and a $103.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $116.62.
View Our Latest Analysis on Aflac
Aflac Company Profile
(
Free Report)
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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