Aflac Incorporated $AFL Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC has reduced its stake in Aflac by 34.5%, now owning 165,325 shares valued at approximately $18.38 million.
• Institutional investors have shown mixed activity with Aflac; while GAMMA Investing LLC increased its stake dramatically, Citigroup Inc. also boosted its holdings by 133.2%.
• Aflac recently reported a quarterly earnings per share of $1.78, which exceeded analysts' expectations, despite a year-over-year revenue decline of 19.0%.

Intech Investment Management LLC cut its position in shares of Aflac Incorporated (NYSE:AFL - Free Report) by 34.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,325 shares of the financial services provider's stock after selling 87,120 shares during the period. Intech Investment Management LLC's holdings in Aflac were worth $18,382,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its stake in Aflac by 121.9% during the first quarter. Golden State Wealth Management LLC now owns 304 shares of the financial services provider's stock worth $34,000 after purchasing an additional 167 shares during the period. Dynamic Advisor Solutions LLC purchased a new position in Aflac during the first quarter worth about $206,000. GAMMA Investing LLC raised its stake in Aflac by 11.6% during the first quarter. GAMMA Investing LLC now owns 13,527 shares of the financial services provider's stock worth $1,504,000 after purchasing an additional 1,411 shares during the period. Garde Capital Inc. purchased a new position in Aflac during the first quarter worth about $36,000. Finally, Sowell Financial Services LLC purchased a new position in Aflac during the first quarter worth about $865,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Aflac Stock Up 0.4%

Shares of AFL stock traded up $0.45 during trading on Friday, reaching $109.14. The company's stock had a trading volume of 1,799,997 shares, compared to its average volume of 2,434,687. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.11 and a quick ratio of 0.11. The company has a market capitalization of $58.37 billion, a price-to-earnings ratio of 24.75, a P/E/G ratio of 3.04 and a beta of 0.85. The stock's 50-day moving average price is $104.09 and its 200 day moving average price is $105.19. Aflac Incorporated has a 1-year low of $96.95 and a 1-year high of $115.50.

Aflac (NYSE:AFL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.71 by $0.07. The firm had revenue of $4.16 billion during the quarter, compared to analysts' expectations of $4.30 billion. Aflac had a net margin of 15.32% and a return on equity of 15.08%. The business's quarterly revenue was down 19.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.83 earnings per share. On average, research analysts anticipate that Aflac Incorporated will post 6.88 EPS for the current year.

Aflac Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th were issued a $0.58 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.1%. Aflac's payout ratio is 52.61%.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AFL shares. Raymond James Financial reduced their target price on shares of Aflac from $115.00 to $110.00 and set an "outperform" rating on the stock in a research note on Thursday, May 29th. Wall Street Zen upgraded shares of Aflac from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Morgan Stanley lifted their price target on shares of Aflac from $108.00 to $113.00 and gave the company an "equal weight" rating in a research report on Monday, August 18th. Evercore ISI reiterated an "underperform" rating and set a $106.00 price target (up from $105.00) on shares of Aflac in a research report on Thursday, August 14th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Aflac from $106.00 to $108.00 and gave the company a "market perform" rating in a research report on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $109.15.

Insider Buying and Selling at Aflac

In related news, Director Joseph L. Moskowitz sold 1,000 shares of Aflac stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $102.57, for a total value of $102,570.00. Following the completion of the transaction, the director owned 25,105 shares in the company, valued at approximately $2,575,019.85. The trade was a 3.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.90% of the company's stock.

Aflac 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.