Maj Invest Holding A S Has $59.98 Million Stock Holdings in Aflac Incorporated $AFL

Key Points

• Maj Invest Holding A S decreased its stake in Aflac Incorporated by 2.4%, holding 568,804 shares valued at approximately $59.98 million, making it the company's 18th largest position.
• Several other institutional investors increased their positions in Aflac, including Berkeley Capital Partners with a 52.5% increase during the same quarter.
• Aflac announced a new share buyback program that allows it to repurchase 100 million shares, indicating that the board believes the stock is undervalued.

Maj Invest Holding A S decreased its holdings in shares of Aflac Incorporated (NYSE:AFL - Free Report) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 568,804 shares of the financial services provider's stock after selling 14,072 shares during the quarter. Aflac comprises approximately 2.1% of Maj Invest Holding A S's holdings, making the stock its 18th largest position. Maj Invest Holding A S owned about 0.11% of Aflac worth $59,984,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Triton Financial Group Inc acquired a new position in shares of Aflac during the second quarter worth approximately $1,781,000. Pittenger & Anderson Inc. increased its position in Aflac by 2.1% during the second quarter. Pittenger & Anderson Inc. now owns 81,244 shares of the financial services provider's stock worth $8,568,000 after acquiring an additional 1,695 shares during the period. Berkeley Capital Partners LLC increased its position in Aflac by 52.5% during the second quarter. Berkeley Capital Partners LLC now owns 11,570 shares of the financial services provider's stock worth $1,220,000 after acquiring an additional 3,983 shares during the period. Drive Wealth Management LLC raised its stake in Aflac by 8.2% during the 2nd quarter. Drive Wealth Management LLC now owns 2,782 shares of the financial services provider's stock valued at $293,000 after purchasing an additional 212 shares during the last quarter. Finally, Princeton Global Asset Management LLC boosted its holdings in Aflac by 47.2% in the 2nd quarter. Princeton Global Asset Management LLC now owns 1,708 shares of the financial services provider's stock valued at $180,000 after purchasing an additional 548 shares during the period. 67.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Joseph L. Moskowitz sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $102.57, for a total transaction of $102,570.00. Following the completion of the sale, the director owned 25,105 shares of the company's stock, valued at approximately $2,575,019.85. This trade represents a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.80% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Morgan Stanley upped their price objective 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. UBS Group cut their price target on Aflac from $114.00 to $111.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Wall Street Zen upgraded Aflac from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Piper Sandler set a $125.00 price objective on Aflac and gave the company an "overweight" rating in a research report on Tuesday, October 7th. Finally, Barclays reaffirmed an "underweight" rating and issued a $102.00 target price (up from $100.00) on shares of Aflac in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Aflac presently has a consensus rating of "Hold" and a consensus target price of $109.45.

Aflac Price Performance

Aflac stock opened at $108.77 on Tuesday. The business has a 50 day simple moving average of $108.45 and a 200 day simple moving average of $105.41. 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 $58.17 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 2.99 and a beta of 0.86. Aflac Incorporated has a one year low of $96.95 and a one year high of $115.43.

Aflac (NYSE:AFL - Get Free Report) last released its quarterly earnings data on Monday, February 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter. The firm had revenue of $5.91 billion during the quarter. Aflac had a return on equity of 15.08% and a net margin of 15.32%. On average, sell-side analysts forecast that Aflac Incorporated will post 6.88 EPS for the current fiscal year.

Aflac announced that its board has approved a share buyback program on Tuesday, August 12th that allows the company to buyback 100,000,000 outstanding shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Aflac Dividend Announcement

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

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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