Core Alternative Capital Reduces Stock Holdings in Aflac Incorporated (NYSE:AFL)

Core Alternative Capital decreased its holdings in shares of Aflac Incorporated (NYSE:AFL - Free Report) by 14.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,154 shares of the financial services provider's stock after selling 12,490 shares during the quarter. Aflac makes up about 2.0% of Core Alternative Capital's holdings, making the stock its 12th biggest position. Core Alternative Capital's holdings in Aflac were worth $8,134,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AFL. Golden State Wealth Management LLC lifted its position in shares of Aflac by 121.9% in 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 last quarter. Curio Wealth LLC bought a new position in shares of Aflac in the fourth quarter valued at approximately $36,000. Garde Capital Inc. acquired a new position in Aflac during the 1st quarter worth $36,000. OFI Invest Asset Management acquired a new stake in shares of Aflac in the fourth quarter valued at about $38,000. Finally, Capital A Wealth Management LLC bought a new position in shares of Aflac in the fourth quarter worth about $38,000. Institutional investors and hedge funds own 67.44% of the company's stock.

Aflac Stock Performance

Shares of NYSE AFL traded down $1.11 during midday trading on Monday, hitting $103.46. 346,319 shares of the company's stock were exchanged, compared to its average volume of 2,112,316. Aflac Incorporated has a 12 month low of $88.00 and a 12 month high of $115.50. The company's 50 day moving average price is $104.25 and its 200 day moving average price is $105.29. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $55.93 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 3.24 and a beta of 0.81.

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

Aflac Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AFL. Keefe, Bruyette & Woods increased their target price on Aflac from $104.00 to $106.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Wells Fargo & Company raised their price target on shares of Aflac from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Raymond James Financial dropped their target price on Aflac from $115.00 to $110.00 and set an "outperform" rating for the company in a report on Thursday, May 29th. Morgan Stanley upped their price target on Aflac from $100.00 to $105.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, JPMorgan Chase & Co. upped their target price on shares of Aflac from $94.00 to $96.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 2nd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $106.64.

Insider Transactions at Aflac

In other Aflac news, Director Joseph L. Moskowitz sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $106.79, for a total value of $106,790.00. Following the completion of the transaction, the director directly owned 26,096 shares in the company, valued at approximately $2,786,791.84. This represents a 3.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Arthur Reginald Collins sold 2,750 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $105.70, for a total transaction of $290,675.00. Following the sale, the director directly owned 6,728 shares in the company, valued at $711,149.60. This trade represents a 29.01% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,750 shares of company stock worth $4,304,295. Corporate insiders own 0.80% of the company's stock.

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.