Insider Selling: Aflac (NYSE:AFL) Director Sells 600 Shares of Company Stock

Key Points

• Aflac director Joseph Moskowitz sold 600 shares for about $74,994, reducing his stake by 1.83% to 32,119 shares. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Aflac reported quarterly EPS of $2.43, beating the $1.80 consensus, and revenue of $4.30 billion versus $4.12 billion expected; revenue was down 31% year over year.
• The company declared a quarterly dividend of $0.61 per share, equivalent to a 1.9% annualized yield. Analysts’ consensus rating was Hold, with an average price target of $118.73.

Aflac Incorporated (NYSE:AFL - Get Free Report) Director Joseph Moskowitz sold 600 shares of the firm's stock in a transaction on Monday, November 9th. The stock was sold at an average price of $124.99, for a total transaction of $74,994.00. Following the completion of the sale, the director owned 32,119 shares in the company, valued at $4,014,553.81. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Aflac Stock Up 0.3%

Shares of AFL opened at $127.01 on Thursday. The company has a 50-day simple moving average of $118.10 and a 200-day simple moving average of $116.48. The firm has a market capitalization of $62.82 billion, a P/E ratio of 18.51, a P/E/G ratio of 1.78 and a beta of 0.55. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.11 and a current ratio of 0.11. Aflac Incorporated has a 52 week low of $105.76 and a 52 week high of $131.18.

Aflac (NYSE:AFL - Get Free Report) last released its earnings results on Wednesday, November 4th. The financial services provider reported $2.43 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.63. Aflac had a net margin of 21.24% and a return on equity of 12.82%. The business had revenue of $4.30 billion during the quarter, compared to analysts' expectations of $4.12 billion. During the same quarter last year, the company earned $2.49 earnings per share. The firm's revenue was down 31.0% on a year-over-year basis. On average, equities research analysts expect that Aflac Incorporated will post 7.29 earnings per share for the current year.

Aflac Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Wednesday, November 18th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $2.44 annualized dividend and a yield of 1.9%. Aflac's dividend payout ratio is 35.57%.

Hedge Funds Weigh In On Aflac

Several hedge funds and other institutional investors have recently modified their holdings of the stock. TIAA CREF Individual & Institutional Services LLC boosted its stake in Aflac by 0.4% in the 3rd quarter. TIAA CREF Individual & Institutional Services LLC now owns 19,734 shares of the financial services provider's stock valued at $2,206,000 after buying an additional 82 shares in the last quarter. Nicholson Wealth Management Group LLC raised its stake in Aflac by 0.5% during the third quarter. Nicholson Wealth Management Group LLC now owns 16,910 shares of the financial services provider's stock worth $1,890,000 after acquiring an additional 87 shares in the last quarter. International Assets Investment Management LLC raised its stake in Aflac by 2.5% during the third quarter. International Assets Investment Management LLC now owns 3,669 shares of the financial services provider's stock worth $408,000 after acquiring an additional 88 shares in the last quarter. Compound Planning Inc. lifted its holdings in shares of Aflac by 0.7% during the first quarter. Compound Planning Inc. now owns 13,743 shares of the financial services provider's stock valued at $1,508,000 after acquiring an additional 91 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its holdings in shares of Aflac by 1.3% during the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 7,013 shares of the financial services provider's stock valued at $784,000 after acquiring an additional 91 shares during the period. Institutional investors own 67.44% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Keefe, Bruyette & Woods decreased their price objective on Aflac from $125.00 to $120.00 and set a "market perform" rating on the stock in a report on Friday, October 9th. Piper Sandler raised their target price on Aflac from $138.00 to $143.00 and gave the stock an "overweight" rating in a research report on Monday. Barclays reiterated an "underweight" rating and set a $101.00 price target (up from $99.00) on shares of Aflac in a research note on Wednesday, October 7th. TD Cowen reissued a "hold" rating and issued a $110.00 price target (up from $101.00) on shares of Aflac in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Aflac from $116.00 to $119.00 and gave the company a "neutral" rating in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, Aflac presently has a consensus rating of "Hold" and a consensus price target of $118.73.

Aflac Company Profile

Aflac Incorporated is an insurance company that provides supplemental health and life insurance to individuals and businesses. Its products are designed to help customers manage expenses that may not be covered by major medical insurance, including costs associated with accidents, cancer, critical illness and hospital stays. The company operates primarily in the United States and Japan. In the U.S., Aflac offers workplace benefits such as accident, disability, dental, vision and life insurance. In Japan, it provides products including cancer, medical and life insurance.

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