Lazard Asset Management LLC Sells 22,388 Shares of Aflac Incorporated (NYSE:AFL)

Lazard Asset Management LLC cut its holdings in Aflac Incorporated (NYSE:AFL - Free Report) by 63.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,974 shares of the financial services provider's stock after selling 22,388 shares during the quarter. Lazard Asset Management LLC's holdings in Aflac were worth $1,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new stake in shares of Aflac in the fourth quarter worth about $26,000. BankPlus Trust Department bought a new stake in shares of Aflac in the fourth quarter worth about $34,000. Curio Wealth LLC bought a new stake in shares of Aflac in the fourth quarter worth about $36,000. OFI Invest Asset Management bought a new stake in shares of Aflac in the fourth quarter worth about $38,000. Finally, Rialto Wealth Management LLC bought a new stake in shares of Aflac in the fourth quarter worth about $41,000. 67.44% of the stock is owned by institutional investors.

Insider Buying and Selling at Aflac

In other news, Director Charles D. Lake II sold 29,802 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $107.29, for a total value of $3,197,456.58. Following the completion of the sale, the director now directly owns 49,962 shares in the company, valued at $5,360,422.98. This represents a 37.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Joseph L. Moskowitz sold 1,000 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $107.63, for a total value of $107,630.00. Following the completion of the sale, the director now owns 25,393 shares of the company's stock, valued at $2,733,048.59. This trade represents a 3.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,802 shares of company stock worth $3,411,877. Insiders own 0.90% of the company's stock.

Aflac Price Performance

Shares of AFL opened at $106.96 on Monday. The company has a market capitalization of $57.83 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 3.24 and a beta of 0.84. The company has a quick ratio of 0.08, a current ratio of 0.10 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average of $107.00 and a 200 day moving average of $106.47. Aflac Incorporated has a twelve month low of $86.46 and a twelve month high of $115.50.

Aflac (NYSE:AFL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.01). The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $4.53 billion. Aflac had a net margin of 28.76% and a return on equity of 16.20%. Aflac's revenue was down 37.5% on a year-over-year basis. During the same period last year, the business earned $1.66 EPS. As a group, equities research analysts anticipate that Aflac Incorporated will post 6.88 earnings per share for the current fiscal year.

Aflac Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.58 per share. The ex-dividend date is Wednesday, May 21st. This represents a $2.32 dividend on an annualized basis and a yield of 2.17%. Aflac's dividend payout ratio is presently 36.25%.

Analyst Upgrades and Downgrades

AFL has been the subject of several research analyst reports. BMO Capital Markets initiated coverage on shares of Aflac in a report on Thursday, January 23rd. They issued a "market perform" rating and a $111.00 price objective for the company. Piper Sandler raised their price objective on shares of Aflac from $118.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. UBS Group raised their price objective on shares of Aflac from $109.00 to $114.00 and gave the stock a "neutral" rating in a report on Wednesday, April 2nd. Morgan Stanley lowered their price objective on shares of Aflac from $105.00 to $100.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Aflac from $104.00 to $106.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $104.21.

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.

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