Aflac Incorporated (NYSE:AFL) Shares Bought by Citigroup Inc.

Key Points

• Citigroup Inc. has increased its holdings in Aflac Incorporated by 133.2%, now owning 758,424 shares worth approximately $84.3 million, after acquiring an additional 433,134 shares.
• Aflac reported earnings of $1.78 per share for the last quarter, beating estimates by $0.07, although revenue fell 19% year-over-year.
• The company declared a quarterly dividend of $0.58 per share, reflecting an annualized yield of 2.2%, with the payout date set for September 2nd.

Citigroup Inc. grew its position in shares of Aflac Incorporated (NYSE:AFL - Free Report) by 133.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 758,424 shares of the financial services provider's stock after purchasing an additional 433,134 shares during the period. Citigroup Inc. owned approximately 0.14% of Aflac worth $84,329,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC lifted its holdings in Aflac by 121.9% in the 1st 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 in the last quarter. Dynamic Advisor Solutions LLC purchased a new stake in shares of Aflac during the first quarter worth about $206,000. GAMMA Investing LLC lifted its stake in shares of Aflac by 11.6% in the first quarter. GAMMA Investing LLC now owns 13,527 shares of the financial services provider's stock worth $1,504,000 after acquiring an additional 1,411 shares in the last quarter. Garde Capital Inc. purchased a new position in Aflac in the first quarter valued at about $36,000. Finally, Sowell Financial Services LLC purchased a new position in Aflac in the first quarter valued at about $865,000. 67.44% of the stock is owned by institutional investors and hedge funds.

Aflac Stock Performance

Shares of AFL stock traded down $0.62 on Tuesday, hitting $103.55. 3,231,283 shares of the stock traded hands, compared to its average volume of 2,432,755. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.11 and a quick ratio of 0.11. The company has a market capitalization of $55.38 billion, a PE ratio of 23.48, a PEG ratio of 2.93 and a beta of 0.83. Aflac Incorporated has a 1-year low of $96.95 and a 1-year high of $115.50. The company's fifty day moving average is $102.41 and its 200 day moving average is $104.88.

Aflac (NYSE:AFL - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.07. The business had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.30 billion. Aflac had a return on equity of 15.08% and a net margin of 15.32%. The business's revenue was down 19.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.83 EPS. On average, equities research analysts predict that Aflac Incorporated will post 6.88 earnings per share for the current fiscal year.

Aflac Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, August 20th. Aflac's dividend payout ratio (DPR) is presently 52.61%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AFL shares. Wells Fargo & Company lifted their price objective on Aflac from $105.00 to $107.00 and gave the stock an "equal weight" rating in a report on Monday. UBS Group decreased their price target on shares of Aflac from $114.00 to $111.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Keefe, Bruyette & Woods raised their price target on shares of Aflac from $106.00 to $108.00 and gave the stock a "market perform" rating in a research report on Monday. Raymond James Financial decreased their price target on shares of Aflac from $115.00 to $110.00 and set an "outperform" rating for the company in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Aflac from $96.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Aflac has an average rating of "Hold" and a consensus target price of $108.23.

Insider Buying and Selling at Aflac

In other Aflac news, Director Joseph L. Moskowitz sold 1,000 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $102.57, for a total value of $102,570.00. Following the sale, the director directly owned 25,105 shares in the company, valued at approximately $2,575,019.85. This trade represents a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Masatoshi Koide sold 37,000 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $105.59, for a total value of $3,906,830.00. Following the completion of the sale, the director owned 70,992 shares in the company, valued at $7,496,045.28. The trade was a 34.26% 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 $4,300,075. 0.80% of the stock is owned by insiders.

Aflac Company Profile

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.