Truist Financial Corp Sells 51,969 Shares of Aflac Incorporated $AFL

Truist Financial Corp lowered its stake in Aflac Incorporated (NYSE:AFL - Free Report) by 10.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 431,410 shares of the financial services provider's stock after selling 51,969 shares during the period. Truist Financial Corp owned approximately 0.08% of Aflac worth $47,572,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AFL. Darwin Wealth Management LLC purchased a new position in shares of Aflac in the second quarter worth about $33,000. Activest Wealth Management increased its holdings in shares of Aflac by 95.6% in the fourth quarter. Activest Wealth Management now owns 311 shares of the financial services provider's stock worth $34,000 after buying an additional 152 shares during the period. Westside Investment Management Inc. increased its holdings in shares of Aflac by 100.0% in the third quarter. Westside Investment Management Inc. now owns 324 shares of the financial services provider's stock worth $36,000 after buying an additional 162 shares during the period. Board of the Pension Protection Fund purchased a new position in shares of Aflac in the fourth quarter worth about $44,000. Finally, JCIC Asset Management Inc. purchased a new position in shares of Aflac in the third quarter worth about $45,000. Hedge funds and other institutional investors own 67.44% of the company's stock.

Aflac Stock Up 1.0%

Shares of NYSE:AFL opened at $114.45 on Wednesday. Aflac Incorporated has a 1 year low of $96.95 and a 1 year high of $119.32. The company has a market cap of $58.96 billion, a PE ratio of 12.99, a P/E/G ratio of 1.96 and a beta of 0.62. 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 stock's 50-day moving average is $111.38 and its 200 day moving average is $110.87.

Aflac (NYSE:AFL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.80 by ($0.05). Aflac had a net margin of 25.60% and a return on equity of 13.88%. The business had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.20 billion. During the same quarter in the prior year, the firm earned $1.66 EPS. The firm's revenue for the quarter was up 27.9% on a year-over-year basis. Sell-side analysts anticipate that Aflac Incorporated will post 7.16 EPS for the current year.

Aflac Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Wednesday, May 20th will be issued 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 is Wednesday, May 20th. Aflac's payout ratio is currently 27.70%.

Analyst Ratings Changes

AFL has been the topic of several analyst reports. Evercore upgraded Aflac from a "strong sell" rating to a "strong-buy" rating in a report on Thursday, April 9th. UBS Group decreased their price objective on Aflac from $116.00 to $114.00 and set a "neutral" rating on the stock in a report on Thursday, April 9th. Keefe, Bruyette & Woods lifted their price objective on Aflac from $113.00 to $115.00 and gave the stock a "market perform" rating in a report on Friday, April 10th. Barclays set a $99.00 price objective on Aflac and gave the stock an "underweight" rating in a report on Thursday, April 30th. Finally, Piper Sandler decreased their price objective on Aflac from $130.00 to $125.00 and set an "overweight" rating on the stock in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $111.36.

Insider Transactions at Aflac

In related news, major shareholder Post Holdings Co. Ltd. Japan sold 166,000 shares of the business's stock in a transaction dated 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 transaction, the insider owned 51,723,100 shares in the company, valued at $5,812,641,978. The trade was a 0.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 572,632 shares of company stock worth $63,514,634. 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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