Corient Private Wealth LP Buys 34,307 Shares of Aflac Incorporated $AFL

Key Points

• Corient Private Wealth increased its Aflac stake by 7.4% in the second quarter, purchasing 34,307 shares and bringing its holdings to 496,085 shares valued at approximately $58.2 million. Institutional investors collectively own 67.44% of Aflac.
• Aflac reported quarterly revenue of $4.22 billion, ahead of estimates, but earnings per share of $1.75 fell just short of consensus and revenue declined 1% year over year.
• Aflac maintains a quarterly dividend of $0.61, equivalent to a $2.44 annualized payout and a 2.1% yield. Analysts’ consensus rating is “Hold”, with an average price target of $116.62.

Corient Private Wealth LP boosted its position in shares of Aflac Incorporated (NYSE:AFL - Free Report) by 7.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 496,085 shares of the financial services provider's stock after buying an additional 34,307 shares during the quarter. Corient Private Wealth LP owned 0.10% of Aflac worth $58,166,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in AFL. Whipplewood Advisors LLC bought a new position in Aflac during the 1st quarter valued at about $25,000. Groupe la Francaise bought a new stake in Aflac in the first quarter worth about $25,000. Quarry LP bought a new stake in Aflac in the fourth quarter worth about $25,000. Archer Investment Corp purchased a new position in shares of Aflac during the second quarter valued at approximately $26,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in shares of Aflac during the second quarter valued at approximately $27,000. Hedge funds and other institutional investors own 67.44% of the company's stock.

Aflac Stock Up 0.7%

Shares of NYSE:AFL opened at $115.28 on Friday. The business's 50 day moving average is $121.08 and its 200 day moving average is $116.31. The stock has a market cap of $57.79 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 1.86 and a beta of 0.59. 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.

Aflac (NYSE:AFL - Get Free Report) last issued its earnings results on Thursday, August 6th. The financial services provider reported $1.75 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $4.11 billion. During the same period last year, the firm earned $1.78 earnings per share. The company's revenue for the quarter was down 1.0% on a year-over-year basis. Sell-side analysts predict that Aflac Incorporated will post 7.04 EPS for the current year.

Aflac Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th were issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Wednesday, August 19th. Aflac's payout ratio is presently 26.15%.

Insider Buying and Selling at Aflac

In other Aflac news, major shareholder Post Holdings Co. Ltd. Japan sold 13,600 shares of the firm's stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $115.44, for a total transaction of $1,569,984.00. Following the transaction, the insider owned 50,625,490 shares of the company's stock, valued at approximately $5,844,206,565.60. This trade represents a 0.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 375,815 shares of company stock valued at $44,190,500 in the last ninety days. Insiders own 0.80% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on AFL shares. Wells Fargo & Company set a $122.00 target price on Aflac and gave the company an "equal weight" rating in a research note on Wednesday, August 19th. Morgan Stanley boosted their price objective on Aflac from $120.00 to $125.00 and gave the company an "equal weight" rating in a report on Thursday, May 21st. TD Cowen reaffirmed a "hold" rating and issued a $110.00 price objective (up from $101.00) on shares of Aflac in a research report on Wednesday, July 22nd. Wall Street Zen lowered Aflac from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $108.00 target price (up from $100.00) on shares of Aflac in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $116.62.

Aflac Profile

Aflac Incorporated is an insurance company that provides supplemental health and life insurance products. Its coverage is designed to help policyholders manage expenses that may not be fully covered by major medical insurance, including costs associated with accidents, illness, hospitalization, disability and critical illness.

Through its U.S. operations, Aflac markets policies to individuals, businesses and employees through workplace benefit programs, independent agents and brokers. The company is also a major provider of supplemental insurance in Japan, where it offers products focused primarily on cancer, medical and income-support coverage.

Founded in 1955 in Columbus, Georgia, as American Family Life Assurance Company, the business adopted the name Aflac in 1990.

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