iA Global Asset Management Inc. Takes Position in Aflac Incorporated $AFL

Key Points

• iA Global Asset Management opened a new position in Aflac during the fourth quarter, buying 23,833 shares worth about $2.63 million.
• Aflac’s stock recently traded near its 52-week high, opening at $118.58 versus a 12-month high of $119.32, while the company’s market cap stands at about $60.35 billion.
• The insurer reported Q1 revenue of $4.24 billion, topping estimates, but earnings per share of $1.75 came in slightly below expectations; the company also declared a quarterly dividend of $0.61 per share.

iA Global Asset Management Inc. acquired a new stake in shares of Aflac Incorporated (NYSE:AFL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,833 shares of the financial services provider's stock, valued at approximately $2,628,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Navalign LLC purchased a new stake in Aflac in the fourth quarter worth $32,000. Darwin Wealth Management LLC purchased a new stake in Aflac in the second quarter worth $33,000. Activest Wealth Management lifted its stake in Aflac by 95.6% in the fourth quarter. Activest Wealth Management now owns 311 shares of the financial services provider's stock worth $34,000 after acquiring an additional 152 shares during the period. Westside Investment Management Inc. lifted its stake in Aflac by 100.0% in the third quarter. Westside Investment Management Inc. now owns 324 shares of the financial services provider's stock worth $36,000 after acquiring an additional 162 shares during the period. Finally, Board of the Pension Protection Fund purchased a new stake in Aflac in the fourth quarter worth $44,000. Hedge funds and other institutional investors own 67.44% of the company's stock.

Aflac Price Performance

AFL opened at $118.58 on Tuesday. The stock has a fifty day simple moving average of $111.89 and a two-hundred day simple moving average of $111.37. 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 company has a market cap of $60.35 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 2.04 and a beta of 0.62. Aflac Incorporated has a 12-month low of $96.95 and a 12-month high of $119.32.

Aflac (NYSE:AFL - Get Free Report) last posted its quarterly earnings data 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). The firm 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%.Aflac's revenue for the quarter was up 27.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.66 EPS. Research analysts predict that Aflac Incorporated will post 7.12 earnings per share for the current fiscal year.

Aflac Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Wednesday, May 20th will be issued a $0.61 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $2.44 dividend on an annualized basis and a yield of 2.1%. Aflac's dividend payout ratio is 27.70%.

Analysts Set New Price Targets

A number of analysts recently commented on AFL shares. Evercore raised Aflac from a "strong sell" rating to a "strong-buy" rating in a research note on Thursday, April 9th. Barclays set a $99.00 price target on Aflac and gave the stock an "underweight" rating in a research note on Thursday, April 30th. Wells Fargo & Company dropped their price target on Aflac from $116.00 to $111.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 5th. Piper Sandler dropped their price target on Aflac from $130.00 to $125.00 and set an "overweight" rating for the company in a research note on Friday, May 1st. Finally, Wall Street Zen raised Aflac from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Aflac presently has an average rating of "Hold" and a consensus price target of $111.36.

Insider Transactions at Aflac

In other Aflac news, major shareholder Post Holdings Co. Ltd. Japan sold 166,000 shares of the stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $112.38, for a total value of $18,655,080.00. Following the completion of the transaction, the insider owned 51,723,100 shares in the company, valued at approximately $5,812,641,978. This represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 674,615 shares of company stock valued at $75,311,551 in the last ninety days. 0.80% of the stock is currently owned by corporate insiders.

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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