Valmark Advisers Inc. Reduces Stock Holdings in Aflac Incorporated $AFL

Key Points

• Valmark Advisers Inc. reduced its holdings in Aflac by 18.6%, selling 3,982 shares and ending the period with 17,456 shares valued at approximately $1.84 million.
• Aflac reported earnings per share of $1.78 for the last quarter, exceeding analysts' expectations, but experienced a 19% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.58 per share, with a dividend yield of 2.1% and a payout ratio of 52.61%.

Valmark Advisers Inc. trimmed its position in Aflac Incorporated (NYSE:AFL - Free Report) by 18.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,456 shares of the financial services provider's stock after selling 3,982 shares during the period. Valmark Advisers Inc.'s holdings in Aflac were worth $1,841,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AFL. NorthRock Partners LLC increased its position in shares of Aflac by 1.5% during the 1st quarter. NorthRock Partners LLC now owns 6,519 shares of the financial services provider's stock valued at $725,000 after purchasing an additional 95 shares during the last quarter. Valued Wealth Advisors LLC grew its position in Aflac by 24.4% in the 1st quarter. Valued Wealth Advisors LLC now owns 495 shares of the financial services provider's stock valued at $55,000 after acquiring an additional 97 shares during the last quarter. Duncan Williams Asset Management LLC grew its position in Aflac by 5.0% in the 2nd quarter. Duncan Williams Asset Management LLC now owns 2,065 shares of the financial services provider's stock valued at $218,000 after acquiring an additional 98 shares during the last quarter. Phillips Wealth Planners LLC grew its position in Aflac by 1.5% in the 1st quarter. Phillips Wealth Planners LLC now owns 6,653 shares of the financial services provider's stock valued at $711,000 after acquiring an additional 100 shares during the last quarter. Finally, Optas LLC grew its position in Aflac by 3.5% in the 1st quarter. Optas LLC now owns 2,949 shares of the financial services provider's stock valued at $328,000 after acquiring an additional 101 shares during the last quarter. 67.44% of the stock is owned by hedge funds and other institutional investors.

Aflac Price Performance

Shares of AFL stock opened at $111.87 on Thursday. Aflac Incorporated has a twelve month low of $96.95 and a twelve month high of $115.44. The stock has a market capitalization of $59.83 billion, a price-to-earnings ratio of 25.37, a P/E/G ratio of 3.13 and a beta of 0.86. The stock has a fifty day simple moving average of $107.06 and a two-hundred day simple moving average of $105.50. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.33.

Aflac (NYSE:AFL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.71 by $0.07. The firm had revenue of $4.16 billion during the quarter, compared to analysts' expectations of $4.30 billion. Aflac had a return on equity of 15.08% and a net margin of 15.32%.The firm's quarterly revenue was down 19.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.83 EPS. On average, analysts predict that Aflac Incorporated will post 6.88 EPS for the current fiscal year.

Aflac Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Wednesday, August 20th. Aflac's dividend payout ratio is 52.61%.

Aflac announced that its Board of Directors has authorized a share repurchase program on Tuesday, August 12th that authorizes the company to buyback 100,000,000 shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on Aflac from $96.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Evercore ISI reaffirmed an "underperform" rating and issued a $106.00 price objective (up previously from $105.00) on shares of Aflac in a research report on Thursday, August 14th. Morgan Stanley upped their price objective on Aflac from $108.00 to $113.00 and gave the company an "equal weight" rating in a research report on Monday, August 18th. Wells Fargo & Company upped their price objective on Aflac from $105.00 to $107.00 and gave the company an "equal weight" rating in a research report on Monday, August 11th. Finally, Piper Sandler set a $125.00 target price on Aflac and gave the stock an "overweight" rating in a report on Tuesday. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Aflac currently has an average rating of "Hold" and an average target price of $110.17.

Insider Buying and Selling at Aflac

In related news, Director Joseph L. Moskowitz sold 1,000 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $102.57, for a total transaction of $102,570.00. Following the completion of the sale, the director directly owned 25,105 shares in the company, valued at $2,575,019.85. This represents a 3.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.90% of the stock is owned by company insiders.

Aflac Profile

Aflac Incorporated, through its subsidiaries, provides supplemental health and life insurance products. The company operates through Aflac Japan and Aflac U.S. segments. The Aflac Japan segment offers cancer, medical, nursing care, work leave, GIFT, and whole and term life insurance products, as well as WAYS and child endowment plans under saving type insurance products in Japan.

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