Odyssean LLC Purchases Shares of 8,925 Aflac Incorporated $AFL

Key Points

• Odyssean LLC initiated a position in Aflac by purchasing 8,925 shares worth approximately $1.05 million during the second quarter. Institutional investors collectively own 67.44% of Aflac’s outstanding shares.
• Aflac reported quarterly EPS of $1.75, slightly below the $1.76 consensus estimate, 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 an annualized $2.44 dividend and a 2.1% yield; analysts maintain a consensus “Hold” rating with an average target price of $116.62.

Odyssean LLC purchased a new stake in shares of Aflac Incorporated (NYSE:AFL - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,925 shares of the financial services provider's stock, valued at approximately $1,046,000.

Other institutional investors have also added to or reduced their stakes in the company. Man Group plc purchased a new stake in Aflac in the second quarter worth $2,805,000. Invst LLC bought a new position in Aflac in the second quarter worth approximately $902,000. First Bancorp Inc ME purchased a new position in Aflac during the 2nd quarter worth $1,494,000. Valtrion Capital Management LLC purchased a new position in Aflac during the 2nd quarter worth $950,000. Finally, Jupiter Topco LLC bought a new stake in Aflac during the 2nd quarter valued at $6,862,000. Hedge funds and other institutional investors own 67.44% of the company's stock.

Aflac Stock Performance

Shares of NYSE:AFL opened at $117.53 on Thursday. The firm has a 50 day moving average of $121.58 and a 200 day moving average of $116.21. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $58.92 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.87 and a beta of 0.60. Aflac Incorporated has a 52 week low of $104.66 and a 52 week high of $130.22.

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

Aflac Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, August 19th. Aflac's payout ratio is 26.15%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Keefe, Bruyette & Woods upped their target price on Aflac from $120.00 to $125.00 and gave the stock a "market perform" rating in a report on Tuesday, August 11th. Mizuho set a $116.00 price target on Aflac in a research note on Monday, August 10th. Weiss Ratings upgraded Aflac from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, August 21st. UBS Group reaffirmed a "neutral" rating and issued a $124.00 price objective (up from $114.00) on shares of Aflac in a research note on Wednesday, July 8th. Finally, Piper Sandler reiterated an "overweight" rating and set a $138.00 target price (up from $130.00) on shares of Aflac in a report on Monday, August 10th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $116.62.

Insider Transactions at Aflac

In other Aflac news, major shareholder Post Holdings Co. Ltd. Japan sold 63,000 shares of the business's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $118.12, for a total value of $7,441,560.00. Following the completion of the transaction, the insider directly owned 51,169,435 shares in the company, valued at approximately $6,044,133,662.20. The trade was a 0.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 498,625 shares of company stock valued at $58,523,683 in the last 90 days. 0.80% of the stock is owned by 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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