Geode Capital Management LLC Has $1.15 Billion Stake in Aflac Incorporated $AFL

Key Points

• Geode Capital Management trimmed its Aflac stake by 2.2% in the fourth quarter, but it still held 10.47 million shares worth about $1.15 billion, or roughly 2% of the company.
• Aflac’s stock has drawn mixed analyst views: the overall consensus is Hold, with an average target price of $112.27 after several firms nudged targets slightly higher or lower.
• The company recently reported Q1 earnings of $1.75 per share, missing expectations, while revenue came in above estimates at $4.24 billion. Aflac also announced a quarterly dividend of $0.61 per share, implying a 2.2% annual yield.

Geode Capital Management LLC lowered its stake in shares of Aflac Incorporated (NYSE:AFL - Free Report) by 2.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 10,468,990 shares of the financial services provider's stock after selling 233,343 shares during the period. Geode Capital Management LLC owned approximately 2.00% of Aflac worth $1,148,899,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Employees Retirement System of Texas acquired a new position in Aflac during the 4th quarter valued at about $3,743,000. Royal Palms Capital LLC bought a new position in shares of Aflac during the 4th quarter worth approximately $2,963,000. Expressive Wealth LLC bought a new position in shares of Aflac during the 4th quarter worth approximately $263,000. Flputnam Investment Management Co. lifted its position in shares of Aflac by 5.3% during the 4th quarter. Flputnam Investment Management Co. now owns 25,712 shares of the financial services provider's stock worth $2,835,000 after buying an additional 1,290 shares in the last quarter. Finally, M3 Wealth Management LLC bought a new position in shares of Aflac during the 4th quarter worth approximately $1,489,000. Institutional investors and hedge funds own 67.44% of the company's stock.

Insider Buying and Selling

In related news, Director Thomas J. Kenny sold 1,740 shares of Aflac stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $116.57, for a total value of $202,831.80. Following the completion of the transaction, the director directly owned 13,219 shares in the company, valued at approximately $1,540,938.83. The trade was a 11.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Steven Kent Beaver sold 5,508 shares of Aflac stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $117.81, for a total transaction of $648,897.48. Following the completion of the transaction, the executive vice president owned 40,537 shares of the company's stock, valued at $4,775,663.97. This represents a 11.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 910,436 shares of company stock valued at $103,126,371. 0.80% of the stock is owned by company insiders.

Analyst Ratings Changes

AFL has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lifted their target price 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. Morgan Stanley lifted 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. Wall Street Zen raised shares of Aflac from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. UBS Group dropped their target price on shares of Aflac from $116.00 to $114.00 and set a "neutral" rating on the stock in a research report on Thursday, April 9th. Finally, Barclays set a $99.00 target price on shares of Aflac and gave the stock an "underweight" rating in a research report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Aflac currently has an average rating of "Hold" and an average target price of $112.27.

Aflac Trading Down 0.2%

NYSE:AFL opened at $112.37 on Friday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $57.20 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.97 and a beta of 0.62. The firm's 50 day moving average is $113.08 and its 200 day moving average is $111.78. Aflac Incorporated has a 12 month low of $96.95 and a 12 month high of $119.81.

Aflac (NYSE:AFL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $1.75 EPS for the quarter, missing analysts' consensus estimates of $1.80 by ($0.05). The company had revenue of $4.24 billion during 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%.The company's revenue for the quarter was up 27.9% compared to the same quarter last year. During the same period last year, the firm posted $1.66 EPS. Sell-side analysts expect that Aflac Incorporated will post 7.08 earnings per share for the current year.

Aflac Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Wednesday, May 20th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, May 20th. Aflac's payout ratio is 27.70%.

Aflac News Summary

Here are the key news stories impacting Aflac this week:

• Positive Sentiment: Aflac issued yen-denominated senior notes, which should improve financial flexibility and support capital management. Aflac Issues Yen-Denominated Senior Notes for Flexibility
• Positive Sentiment: Recent analyst estimates remain slightly above current consensus, with DOWLING & PARTN projecting modest earnings growth into FY2027 and FY2028, suggesting longer-term earnings momentum. Aflac analyst estimates
• Neutral Sentiment: Several insider sales by Post Holdings Co. Ltd. Japan were disclosed, but they were pre-arranged Rule 10b5-1 transactions and represent only small reductions in ownership. Post Holdings Co. Ltd. Japan Sells 31,100 Shares of Aflac NYSE: AFL Stock
• Neutral Sentiment: EVP Steven Kent Beaver also sold shares in a disclosed transaction, which may weigh on sentiment but does not appear to signal a fundamental change. Steven Kent Beaver Sells 5,508 Shares of Aflac NYSE: AFL Stock
• Negative Sentiment: Aflac’s last quarterly report missed EPS expectations, and some analysts have trimmed or only maintained cautious ratings, limiting upside enthusiasm. Aflac earnings and analyst coverage

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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