Eventide Asset Management LLC Grows Position in Aflac Incorporated $AFL

Key Points

• Eventide Asset Management LLC increased its holdings in Aflac Incorporated by 73.2%, owning 13,074 shares valued at approximately $1.44 million following additional purchases in the first quarter.
• Aflac's shares recently traded at approximately $108.43, with a market capitalization of $57.99 billion and a price-to-earnings ratio of 24.59.
• Analysts currently have a consensus rating of "Hold" for Aflac, with a price target averaging $109.15, reflecting varying opinions on the stock's performance.

Eventide Asset Management LLC lifted its stake in shares of Aflac Incorporated (NYSE:AFL - Free Report) by 73.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,074 shares of the financial services provider's stock after acquiring an additional 5,526 shares during the quarter. Eventide Asset Management LLC's holdings in Aflac were worth $1,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaCore Capital LLC acquired a new stake in Aflac during the 1st quarter valued at approximately $28,000. Golden State Wealth Management LLC boosted its stake in shares of Aflac by 121.9% in the 1st quarter. Golden State Wealth Management LLC now owns 304 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 167 shares during the last quarter. Groupe la Francaise acquired a new stake in shares of Aflac during the first quarter worth $34,000. Garde Capital Inc. acquired a new stake in shares of Aflac during the first quarter worth $36,000. Finally, Meeder Asset Management Inc. raised its stake in Aflac by 90.8% during the first quarter. Meeder Asset Management Inc. now owns 330 shares of the financial services provider's stock worth $37,000 after buying an additional 157 shares during the last quarter. 67.44% of the stock is owned by institutional investors and hedge funds.

Aflac Stock Down 0.1%

NYSE:AFL traded down $0.09 on Tuesday, hitting $106.25. The stock had a trading volume of 1,771,516 shares, compared to its average volume of 2,214,606. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.33. Aflac Incorporated has a 52 week low of $96.95 and a 52 week high of $115.50. The business's fifty day moving average is $103.84 and its 200 day moving average is $105.12. The company has a market cap of $56.83 billion, a PE ratio of 24.09, a P/E/G ratio of 3.00 and a beta of 0.85.

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

Aflac Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th were 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 of this dividend was Wednesday, August 20th. Aflac's dividend payout ratio (DPR) is 52.61%.

Aflac declared that its board has initiated a share repurchase plan on Tuesday, August 12th that authorizes the company to buyback 100,000,000 shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

AFL has been the topic of a number of research analyst reports. Raymond James Financial cut their price target on shares of Aflac from $115.00 to $110.00 and set an "outperform" rating on the stock in a research report on Thursday, May 29th. Wall Street Zen upgraded Aflac from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Wells Fargo & Company raised their target price on Aflac from $105.00 to $107.00 and gave the stock an "equal weight" rating in a research note on Monday, August 11th. JPMorgan Chase & Co. lifted their target price on Aflac from $96.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Finally, UBS Group cut their price target on Aflac from $114.00 to $111.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $109.15.

Insider Activity

In other news, Director Joseph L. Moskowitz sold 1,000 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $102.57, for a total transaction of $102,570.00. Following the completion of the sale, the director directly owned 25,105 shares of the company's stock, valued at $2,575,019.85. The trade was a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.80% of the stock is owned by corporate insiders.

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.