Meeder Advisory Services Inc. Makes New Investment in Aflac Incorporated $AFL

Key Points

• Meeder Advisory Services purchased 20,136 Aflac shares in the second quarter, valued at approximately $2.36 million. Institutional investors collectively own 67.44% of Aflac’s outstanding stock.
• Aflac reported quarterly earnings of $1.75 per share, slightly below analyst estimates, while revenue of $4.22 billion exceeded expectations; revenue declined 1% year over year.
• The company declared a quarterly dividend of $0.61 per share, equivalent to a $2.44 annualized payout and a 2.0% yield. Analysts maintain a consensus “Hold” rating with an average price target of $117.58.

Meeder Advisory Services Inc. bought a new position in shares of Aflac Incorporated (NYSE:AFL - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,136 shares of the financial services provider's stock, valued at approximately $2,361,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Whipplewood Advisors LLC acquired a new position in Aflac in the 1st quarter worth $25,000. Groupe la Francaise purchased a new stake in shares of Aflac during the first quarter worth about $25,000. Quarry LP purchased a new stake in shares of Aflac during the fourth quarter worth about $25,000. Nalls Sherbakoff Group LLC acquired a new position in shares of Aflac in the fourth quarter worth about $29,000. Finally, Evergreen Advisors LLC purchased a new position in Aflac in the first quarter valued at about $29,000. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

Aflac Stock Performance

AFL opened at $121.74 on Wednesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.29. The business's 50 day moving average is $121.60 and its 200-day moving average is $116.04. The stock has a market cap of $61.03 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 1.96 and a beta of 0.60. Aflac Incorporated has a twelve month low of $104.66 and a twelve month high of $130.22.

Aflac (NYSE:AFL - Get Free Report) last released its earnings results on Thursday, August 6th. The financial services provider reported $1.75 earnings per share for the quarter, missing analysts' consensus estimates of $1.76 by ($0.01). The firm had revenue of $4.22 billion during the quarter, compared to analyst estimates of $4.11 billion. Aflac had a return on equity of 13.27% and a net margin of 26.91%.The business's revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the company earned $1.78 earnings per share. On average, analysts predict that Aflac Incorporated will post 7.04 earnings per share for the current year.

Aflac Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Wednesday, August 19th. Aflac's dividend payout ratio (DPR) is currently 26.15%.

Analyst Ratings Changes

Several equities analysts have recently commented on AFL shares. Mizuho set a $116.00 target price on Aflac in a research note on Monday, August 10th. Morgan Stanley upped their price target on shares of Aflac from $120.00 to $125.00 and gave the company an "equal weight" rating in a report on Thursday, May 21st. Piper Sandler reiterated an "overweight" rating and set a $138.00 price objective (up from $130.00) on shares of Aflac in a research note on Monday, August 10th. TD Cowen reissued a "hold" rating and issued a $110.00 target price (up from $101.00) on shares of Aflac in a research report on Wednesday, July 22nd. Finally, Weiss Ratings lowered shares of Aflac from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $117.58.

Insider Activity

In related news, Director Joseph L. Moskowitz sold 600 shares of Aflac stock in a transaction on Monday, August 10th. The shares were sold at an average price of $124.10, for a total value of $74,460.00. Following the completion of the sale, the director owned 32,710 shares of the company's stock, valued at approximately $4,059,311. The trade was a 1.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Post Holdings Co. Ltd. Japan sold 14,100 shares of the company's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $121.43, for a total value of $1,712,163.00. Following the sale, the insider owned 50,858,590 shares of the company's stock, valued at approximately $6,175,758,583.70. This trade represents a 0.03% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 523,833 shares of company stock valued at $61,339,113. 0.80% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source