Pictet Asset Management Holding SA Reduces Stock Holdings in Aflac Incorporated $AFL

Key Points

• Pictet Asset Management reduced its Aflac stake by 9.1% in the first quarter, selling 30,527 shares and leaving it with 306,702 shares worth about $33.6 million.
• Analyst sentiment is mixed: the stock’s average rating is “Hold,” with an average target price of $112.27, though some firms recently raised targets or upgraded the shares.
• Insiders have been selling shares, including a June 22 sale by Post Holdings Co. Ltd. Japan and director Joseph L. Moskowitz, while Aflac’s stock has been trading near its 52-week high around $117.22.

Pictet Asset Management Holding SA cut its holdings in shares of Aflac Incorporated (NYSE:AFL - Free Report) by 9.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 306,702 shares of the financial services provider's stock after selling 30,527 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.06% of Aflac worth $33,648,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AFL. Quarry LP purchased a new position in Aflac during the fourth quarter valued at approximately $25,000. Nalls Sherbakoff Group LLC bought a new position in shares of Aflac in the 4th quarter worth $29,000. Navalign LLC bought a new position in shares of Aflac in the 4th quarter worth $32,000. Darwin Wealth Management LLC purchased a new position in shares of Aflac in the 2nd quarter worth about $33,000. Finally, Activest Wealth Management increased its position in shares of Aflac by 95.6% during the 4th quarter. Activest Wealth Management now owns 311 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 67.44% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AFL shares. Barclays set a $99.00 target price on Aflac and gave the company an "underweight" rating in a report on Thursday, April 30th. Evercore upgraded shares of Aflac from a "strong sell" rating to a "strong-buy" rating in a report on Thursday, April 9th. Keefe, Bruyette & Woods increased their target price on Aflac from $113.00 to $115.00 and gave the stock a "market perform" rating in a research report on Friday, April 10th. Piper Sandler restated an "overweight" rating and issued a $130.00 price target (up from $125.00) on shares of Aflac in a research note on Tuesday, May 26th. Finally, Wall Street Zen raised shares of Aflac from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Aflac has an average rating of "Hold" and an average target price of $112.27.

Insider Buying and Selling at Aflac

In related news, major shareholder Post Holdings Co. Ltd. Japan sold 27,845 shares of Aflac stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $116.71, for a total transaction of $3,249,789.95. Following the transaction, the insider owned 50,898,490 shares in the company, valued at approximately $5,940,362,767.90. The trade was a 0.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joseph L. Moskowitz sold 12,370 shares of the company's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $116.54, for a total transaction of $1,441,599.80. Following the completion of the transaction, the director directly owned 33,310 shares of the company's stock, valued at $3,881,947.40. This represents a 27.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,062,871 shares of company stock worth $122,790,124 over the last 90 days. Insiders own 0.80% of the company's stock.

Aflac Stock Performance

AFL opened at $117.22 on Wednesday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.26. The company has a market cap of $59.66 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 2.10 and a beta of 0.61. The company's 50 day moving average is $116.01 and its 200 day moving average is $112.69. Aflac Incorporated has a 12-month low of $96.95 and a 12-month high of $120.29.

Aflac (NYSE:AFL - Get Free Report) last announced its earnings results on Wednesday, April 29th. The financial services provider reported $1.75 EPS for the quarter, missing analysts' consensus estimates of $1.80 by ($0.05). The business had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.20 billion. Aflac had a net margin of 25.60% and a return on equity of 13.88%. The firm's quarterly revenue was up 27.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.66 earnings per share. On average, equities research analysts predict that Aflac Incorporated will post 7.09 EPS for the current year.

Aflac Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Wednesday, May 20th were paid a $0.61 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.1%. Aflac's dividend payout ratio is 27.70%.

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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