Element Capital Management LLC Makes New $2.75 Million Investment in Aflac Incorporated $AFL

Key Points

• Element Capital Management LLC acquired a new stake of 24,699 shares of Aflac Incorporated, valued at approximately $2.746 million, as reported in their recent Form 13F filing.
• Several institutional investors have increased their stakes in Aflac, with Brighton Jones LLC growing its position by 64.4% during the 4th quarter.
• Aflac's Board of Directors announced a stock repurchase plan to buy back up to 100,000,000 shares, signaling confidence in the stock's valuation.

Element Capital Management LLC bought a new position in shares of Aflac Incorporated (NYSE:AFL - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 24,699 shares of the financial services provider's stock, valued at approximately $2,746,000.

A number of other institutional investors and hedge funds also recently modified their holdings of AFL. AlphaCore Capital LLC purchased a new position in Aflac during the 1st quarter worth approximately $28,000. Golden State Wealth Management LLC grew its position in Aflac by 121.9% during the 1st quarter. Golden State Wealth Management LLC now owns 304 shares of the financial services provider's stock worth $34,000 after purchasing an additional 167 shares in the last quarter. Garde Capital Inc. purchased a new position in Aflac during the 1st quarter worth approximately $36,000. Meeder Asset Management Inc. grew its position in Aflac by 90.8% during the 1st quarter. Meeder Asset Management Inc. now owns 330 shares of the financial services provider's stock worth $37,000 after purchasing an additional 157 shares in the last quarter. Finally, Capital A Wealth Management LLC purchased a new position in Aflac during the 4th quarter worth approximately $38,000. 67.44% of the stock is owned by institutional investors and hedge funds.

Aflac Stock Up 0.9%

NYSE:AFL traded up $0.9290 during trading hours on Wednesday, reaching $107.8190. The company's stock had a trading volume of 2,684,858 shares, compared to its average volume of 2,484,695. The company has a market cap of $57.66 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 3.00 and a beta of 0.83. Aflac Incorporated has a one year low of $96.95 and a one year high of $115.50. The business's 50-day moving average is $102.85 and its 200-day moving average is $104.83. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.11 and a quick ratio of 0.11.

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

Aflac announced that its Board of Directors has authorized a share buyback program on Tuesday, August 12th that permits the company to repurchase 100,000,000 shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Aflac Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders 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 dividend yield of 2.2%. The ex-dividend date is Wednesday, August 20th. Aflac's payout ratio is presently 52.61%.

Insider Buying and Selling at Aflac

In other news, Director Joseph L. Moskowitz sold 1,000 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $102.57, for a total value of $102,570.00. Following the completion of the sale, the director directly owned 25,105 shares in the company, valued at approximately $2,575,019.85. The trade was a 3.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Aflac from $105.00 to $107.00 and gave the stock an "equal weight" rating in a research report on Monday, August 11th. UBS Group reduced 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. Raymond James Financial reduced 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. JPMorgan Chase & Co. increased 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. Finally, Keefe, Bruyette & Woods increased 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, August 11th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $109.15.

Aflac 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.