Flputnam Investment Management Co. Invests $2.83 Million in Aflac Incorporated $AFL

Key Points

• Flputnam Investment Management acquired 24,150 Aflac shares worth approximately $2.83 million during the second quarter. Institutional investors own 67.44% of Aflac’s outstanding stock.
• Aflac reported quarterly revenue of $4.22 billion, exceeding estimates, but earnings of $1.75 per share narrowly missed consensus by $0.01; revenue declined 1% year over year.
• Aflac declared a quarterly dividend of $0.61 per share, equal to an annualized $2.44 and a 2.0% yield. Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $117.58.

Flputnam Investment Management Co. acquired a new position in shares of Aflac Incorporated (NYSE:AFL - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 24,150 shares of the financial services provider's stock, valued at approximately $2,832,000.

Other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new stake in shares of Aflac in the 1st quarter valued at about $25,000. Groupe la Francaise acquired a new position in shares of Aflac during the first quarter worth about $25,000. Quarry LP acquired a new position in shares of Aflac during the fourth quarter worth about $25,000. Nalls Sherbakoff Group LLC bought a new position in shares of Aflac during the fourth quarter worth about $29,000. Finally, Evergreen Advisors LLC bought a new position in shares of Aflac during the first quarter worth about $29,000. 67.44% of the stock is owned by institutional investors.

Insider Transactions at Aflac

In related news, major shareholder Post Holdings Co. Ltd. Japan sold 27,845 shares of Aflac stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $116.71, for a total transaction of $3,249,789.95. Following the completion of the sale, the insider owned 50,898,490 shares of the company's stock, valued at approximately $5,940,362,767.90. The trade was a 0.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joseph L. Moskowitz sold 600 shares of the company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $124.10, for a total transaction of $74,460.00. Following the completion of the transaction, 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. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 578,333 shares of company stock valued at $67,710,836. 0.80% of the stock is currently owned by corporate insiders.

Aflac Stock Performance

Shares of NYSE AFL opened at $121.38 on Monday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $60.85 billion, a P/E ratio of 13.01, a P/E/G ratio of 1.96 and a beta of 0.60. Aflac Incorporated has a 12 month low of $104.66 and a 12 month high of $130.22. The stock has a 50 day moving average of $121.36 and a 200-day moving average of $115.86.

Aflac (NYSE:AFL - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The financial services provider reported $1.75 earnings per share 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 the consensus estimate of $4.11 billion. During the same quarter last year, the company posted $1.78 EPS. The firm's revenue was down 1.0% on a year-over-year basis. As a group, equities research analysts predict that Aflac Incorporated will post 7.04 EPS for the current year.

Aflac Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, August 19th. Aflac's dividend payout ratio (DPR) is currently 26.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AFL shares. Piper Sandler restated an "overweight" rating and issued a $138.00 target price (up from $130.00) on shares of Aflac in a research note on Monday, August 10th. UBS Group reaffirmed a "neutral" rating and set a $124.00 price target (up from $114.00) on shares of Aflac in a research note on Wednesday, July 8th. Barclays reiterated an "underweight" rating and issued a $99.00 price objective (up from $98.00) on shares of Aflac in a report on Friday, August 7th. JPMorgan Chase & Co. cut their price objective on shares of Aflac from $117.00 to $116.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 11th. Finally, Morgan Stanley increased their target price on shares of Aflac from $120.00 to $125.00 and gave the stock an "equal weight" rating in a report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $117.58.

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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