Elevation Point Wealth Partners LLC Has $2.96 Million Position in Aflac Incorporated $AFL

Key Points

• Elevation Point Wealth Partners boosted its Aflac stake by 83.3% in Q1, ending the quarter with 26,946 shares valued at about $2.96 million.
• Aflac posted mixed quarterly results, with revenue rising 27.9% year over year to $4.24 billion but earnings per share missing analyst estimates at $1.75 versus $1.80 expected.
• The company continues to return cash to shareholders, paying a quarterly dividend of $0.61 per share, equal to a 2.0% annualized yield.

Elevation Point Wealth Partners LLC grew its position in Aflac Incorporated (NYSE:AFL - Free Report) by 83.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,946 shares of the financial services provider's stock after acquiring an additional 12,247 shares during the period. Elevation Point Wealth Partners LLC's holdings in Aflac were worth $2,956,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Stephens Inc. AR lifted its stake in Aflac by 0.4% in the 4th quarter. Stephens Inc. AR now owns 21,945 shares of the financial services provider's stock valued at $2,420,000 after purchasing an additional 91 shares during the last quarter. Root Financial Partners LLC increased its position in Aflac by 4.5% during the fourth quarter. Root Financial Partners LLC now owns 2,119 shares of the financial services provider's stock worth $234,000 after buying an additional 92 shares during the last quarter. CENTRAL TRUST Co raised its stake in Aflac by 0.5% in the fourth quarter. CENTRAL TRUST Co now owns 19,088 shares of the financial services provider's stock valued at $2,105,000 after buying an additional 95 shares during the period. HBK Sorce Advisory LLC raised its stake in Aflac by 1.2% in the fourth quarter. HBK Sorce Advisory LLC now owns 7,702 shares of the financial services provider's stock valued at $902,000 after buying an additional 95 shares during the period. Finally, Confluence Wealth Services Inc. lifted its position in shares of Aflac by 0.8% in the fourth quarter. Confluence Wealth Services Inc. now owns 11,923 shares of the financial services provider's stock valued at $1,315,000 after buying an additional 96 shares during the last quarter. 67.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Post Holdings Co. Ltd. Japan sold 166,000 shares of Aflac stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $112.38, for a total transaction of $18,655,080.00. Following the completion of the sale, the insider owned 51,723,100 shares of the company's stock, valued at approximately $5,812,641,978. This trade represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 1,042,771 shares of company stock worth $120,575,104. 0.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AFL. Barclays set a $99.00 target price on Aflac and gave the stock an "underweight" rating in a research note on Thursday, April 30th. Weiss Ratings raised Aflac from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, June 15th. Keefe, Bruyette & Woods lifted their price objective on shares of Aflac from $113.00 to $115.00 and gave the stock a "market perform" rating in a research report on Friday, April 10th. Mizuho set a $104.00 price objective on shares of Aflac in a research report on Monday, May 4th. Finally, UBS Group decreased their price objective on shares of Aflac from $116.00 to $114.00 and set a "neutral" rating on the stock in a report on Thursday, April 9th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $112.27.

Aflac Trading Down 0.1%

Shares of NYSE:AFL opened at $120.73 on Friday. Aflac Incorporated has a 12-month low of $96.95 and a 12-month high of $120.88. The business has a 50 day moving average of $116.30 and a 200-day moving average of $112.89. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.26. The stock has a market cap of $61.45 billion, a PE ratio of 13.70, a P/E/G ratio of 2.12 and a beta of 0.61.

Aflac (NYSE:AFL - Get Free Report) last announced its earnings results on Wednesday, April 29th. The financial services provider reported $1.75 earnings per share for the quarter, missing analysts' consensus estimates of $1.80 by ($0.05). The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.20 billion. Aflac had a return on equity of 13.88% and a net margin of 25.60%.Aflac's revenue for the quarter was up 27.9% on a year-over-year basis. During the same quarter last year, the business posted $1.66 EPS. As a group, equities research analysts forecast that Aflac Incorporated will post 7.09 earnings per share for the current year.

Aflac Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Wednesday, May 20th were given a dividend of $0.61 per share. The ex-dividend date was Wednesday, May 20th. This represents a $2.44 annualized dividend and a yield of 2.0%. Aflac's dividend payout ratio (DPR) is presently 27.70%.

Aflac Profile

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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