EverSource Wealth Advisors LLC Raises Stock Holdings in Aflac Incorporated $AFL

Key Points

• EverSource Wealth Advisors increased its Aflac stake by 360.7% in the first quarter, bringing its holdings to 17,831 shares valued at approximately $1.96 million. Institutional investors collectively own 67.44% of Aflac.
• Analysts raised several Aflac price targets, including Piper Sandler’s increase to $130, but the consensus rating remains “Hold” with an average price target of $116.17.
• Aflac shares opened at $127.35 after declining 1%, near their 52-week high of $130.22. The company’s latest quarterly revenue rose 27.9% year over year to $4.24 billion, although earnings per share of $1.75 fell short of estimates.

EverSource Wealth Advisors LLC raised its stake in shares of Aflac Incorporated (NYSE:AFL - Free Report) by 360.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 17,831 shares of the financial services provider's stock after acquiring an additional 13,961 shares during the period. EverSource Wealth Advisors LLC's holdings in Aflac were worth $1,956,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AFL. Whipplewood Advisors LLC purchased a new position in shares of Aflac during the 1st quarter worth $25,000. Quarry LP purchased a new stake in shares of Aflac in the 4th quarter worth $25,000. Nalls Sherbakoff Group LLC bought a new position in Aflac in the 4th quarter worth $29,000. Evergreen Advisors LLC bought a new position in Aflac in the 1st quarter worth $29,000. Finally, Navalign LLC purchased a new position in Aflac during the fourth quarter valued at $32,000. Institutional investors own 67.44% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AFL shares. TD Cowen reiterated a "hold" rating and set a $110.00 price objective (up from $101.00) on shares of Aflac in a research note on Wednesday, July 22nd. Wells Fargo & Company boosted their price target on shares of Aflac from $111.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 9th. Jefferies Financial Group reissued a "hold" rating and set a $108.00 price objective (up from $100.00) on shares of Aflac in a report on Friday, July 10th. Piper Sandler restated an "overweight" rating and set a $130.00 price objective (up from $125.00) on shares of Aflac in a research report on Tuesday, May 26th. Finally, Evercore raised Aflac from a "strong sell" rating to a "strong-buy" rating in a report on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Aflac has an average rating of "Hold" and a consensus price target of $116.17.

Insider Transactions at Aflac

In related news, Director Joseph L. Moskowitz sold 12,370 shares of Aflac stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $116.54, for a total value of $1,441,599.80. Following the completion of the transaction, the director owned 33,310 shares in the company, valued at approximately $3,881,947.40. This trade represents a 27.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Post Holdings Co. Ltd. Japan sold 27,845 shares of Aflac stock in a transaction dated 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 completion of the transaction, 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 744,916 shares of company stock worth $87,118,632. Insiders own 0.80% of the company's stock.

Aflac Trading Down 1.0%

AFL stock opened at $127.35 on Friday. The firm has a fifty day moving average price of $119.45 and a 200 day moving average price of $114.71. Aflac Incorporated has a fifty-two week low of $96.95 and a fifty-two week high of $130.22. The firm has a market cap of $64.82 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 1.98 and a beta of 0.61. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.11 and a current ratio of 0.11.

Aflac (NYSE:AFL - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.80 by ($0.05). Aflac had a net margin of 25.60% and a return on equity of 13.88%. The business had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.20 billion. During the same period in the previous year, the company earned $1.66 EPS. Aflac's revenue for the quarter was up 27.9% compared to the same quarter last year. Sell-side analysts anticipate that Aflac Incorporated will post 7.06 earnings per share for the current fiscal year.

Aflac Company 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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