Empowered Funds LLC Grows Stake in Aflac Incorporated $AFL

Key Points

• Empowered Funds increased its Aflac stake by 47.2% in the first quarter, bringing its holdings to 65,296 shares valued at approximately $7.16 million. Institutional investors collectively own 67.44% of Aflac.
• Aflac reported quarterly revenue of $4.22 billion, exceeding estimates, but earnings of $1.75 per share narrowly missed expectations; revenue declined 1% year over year.
• The analyst consensus remains “Hold,” with an average price target of $117.58, while Aflac declared a quarterly dividend of $0.61 per share, equivalent to a 2.0% annual yield.

Empowered Funds LLC lifted its stake in Aflac Incorporated (NYSE:AFL - Free Report) by 47.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,296 shares of the financial services provider's stock after buying an additional 20,939 shares during the period. Empowered Funds LLC's holdings in Aflac were worth $7,164,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AFL. Vanguard Group Inc. increased its stake in Aflac by 13.4% in the 4th quarter. Vanguard Group Inc. now owns 57,142,072 shares of the financial services provider's stock valued at $6,301,056,000 after buying an additional 6,759,169 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Aflac by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,550,855 shares of the financial services provider's stock worth $499,216,000 after acquiring an additional 67,650 shares during the period. Norges Bank purchased a new position in Aflac during the fourth quarter worth about $420,078,000. Amundi lifted its position in Aflac by 22.6% in the first quarter. Amundi now owns 3,268,209 shares of the financial services provider's stock valued at $358,555,000 after purchasing an additional 603,426 shares during the period. Finally, First Trust Advisors LP lifted its position in Aflac by 161.9% in the first quarter. First Trust Advisors LP now owns 3,184,801 shares of the financial services provider's stock valued at $349,405,000 after purchasing an additional 1,968,738 shares during the period. Hedge funds and other institutional investors own 67.44% of the company's stock.

Insider Activity at Aflac

In related news, major shareholder Post Holdings Co. Ltd. Japan sold 27,845 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $116.71, for a total value of $3,249,789.95. Following the sale, the insider owned 50,898,490 shares of the company's stock, valued at approximately $5,940,362,767.90. This represents a 0.05% decrease in their position. 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. Also, Director Joseph L. Moskowitz sold 600 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $124.10, for a total value of $74,460.00. Following the sale, the director owned 32,710 shares in the company, valued at approximately $4,059,311. This trade represents a 1.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 620,033 shares of company stock worth $72,650,201 over the last quarter. Company insiders own 0.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AFL shares. TD Cowen reaffirmed a "hold" rating and issued a $110.00 price objective (up from $101.00) on shares of Aflac in a report on Wednesday, July 22nd. Wells Fargo & Company increased their price objective on Aflac from $111.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 9th. Piper Sandler restated an "overweight" rating and set a $138.00 target price (up from $130.00) on shares of Aflac in a research report on Monday, August 10th. Morgan Stanley upped their target price on shares of Aflac from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 21st. Finally, Weiss Ratings cut shares of Aflac from a "buy (a-)" rating to a "buy (b+)" rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $117.58.

Aflac Trading Up 0.2%

NYSE:AFL opened at $121.38 on Friday. Aflac Incorporated has a 52-week low of $104.66 and a 52-week high of $130.22. The company has a quick ratio of 0.11, a current ratio of 0.12 and a debt-to-equity ratio of 0.29. The stock has a fifty day simple moving average of $121.36 and a 200-day simple moving average of $115.82. The company has a market capitalization of $60.85 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 1.96 and a beta of 0.60.

Aflac (NYSE:AFL - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The financial services provider reported $1.75 EPS 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 business had revenue of $4.22 billion during the quarter, compared to analyst estimates of $4.11 billion. During the same period in the previous year, the company posted $1.78 earnings per share. Aflac's revenue was down 1.0% on a year-over-year basis. On average, equities research analysts expect that Aflac Incorporated will post 7.04 earnings per share for the current fiscal year.

Aflac Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be given a $0.61 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $2.44 annualized dividend and a dividend yield of 2.0%. Aflac's dividend payout ratio is currently 26.15%.

About Aflac

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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