Smithbridge Asset Management Inc. DE Increases Stock Position in Aflac Incorporated $AFL

Key Points

• Smithbridge Asset Management doubled its Aflac position in the fourth quarter, buying 10,150 more shares and bringing its total to 20,300 shares valued at about $2.24 million.
• Aflac reported mixed quarterly results, with EPS of $1.75 coming in below estimates while revenue of $4.24 billion slightly topped forecasts; analysts still expect full-year EPS of 7.08.
• The company recently paid a quarterly dividend of $0.61 per share, and its stock was trading near its 52-week high at $117.03, with Wall Street’s consensus rating remaining Hold.

Smithbridge Asset Management Inc. DE raised its position in shares of Aflac Incorporated (NYSE:AFL - Free Report) by 100.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,300 shares of the financial services provider's stock after buying an additional 10,150 shares during the period. Smithbridge Asset Management Inc. DE's holdings in Aflac were worth $2,238,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AFL. Brighton Jones LLC lifted its holdings in Aflac by 64.4% in the 4th quarter. Brighton Jones LLC now owns 14,570 shares of the financial services provider's stock worth $1,507,000 after buying an additional 5,708 shares during the period. Bison Wealth LLC lifted its holdings in Aflac by 4.3% in the 4th quarter. Bison Wealth LLC now owns 4,402 shares of the financial services provider's stock worth $455,000 after buying an additional 183 shares during the period. WINTON GROUP Ltd purchased a new stake in Aflac in the 2nd quarter worth approximately $280,000. Sei Investments Co. lifted its position in shares of Aflac by 11.2% in the 2nd quarter. Sei Investments Co. now owns 150,334 shares of the financial services provider's stock worth $15,854,000 after purchasing an additional 15,105 shares during the period. Finally, Main Street Financial Solutions LLC lifted its position in shares of Aflac by 1.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 11,953 shares of the financial services provider's stock worth $1,261,000 after purchasing an additional 192 shares during the period. Hedge funds and other institutional investors own 67.44% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Post Holdings Co. Ltd. Japan sold 166,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $112.38, for a total transaction of $18,655,080.00. Following the completion of the transaction, the insider owned 51,723,100 shares of the company's stock, valued at $5,812,641,978. This trade represents a 0.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 914,456 shares of company stock worth $104,340,566. 0.80% of the stock is owned by company insiders.

Aflac Stock Up 1.2%

Shares of Aflac stock opened at $117.03 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.11 and a quick ratio of 0.11. The company has a 50-day moving average of $114.39 and a 200 day moving average of $111.91. The firm has a market cap of $59.56 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 2.02 and a beta of 0.61. Aflac Incorporated has a 1 year low of $96.95 and a 1 year high of $119.81.

Aflac (NYSE:AFL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by ($0.05). The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.20 billion. Aflac had a return on equity of 13.88% and a net margin of 25.60%.The firm's revenue was up 27.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.66 earnings per share. As a group, sell-side analysts anticipate that Aflac Incorporated will post 7.08 earnings per share for the current fiscal year.

Aflac Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AFL. Piper Sandler reaffirmed an "overweight" rating and issued a $130.00 target price (up from $125.00) on shares of Aflac in a research report on Tuesday, May 26th. Morgan Stanley increased their price target on shares of Aflac from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 21st. Wells Fargo & Company decreased their price target on shares of Aflac from $116.00 to $111.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 5th. Wall Street Zen raised shares of Aflac from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Aflac presently has an average rating of "Hold" and a consensus target price of $112.27.

About Aflac

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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